The face of the average investor has changed dramatically over the past decade. While these professionals represented a relatively small portion of the population in the past, a greater number of individuals are realising the power of real-time trading. In fact, a 2014 survey highlighted that no fewer than 30 per cent of high-net-worth investors began as average traders. This is largely due to the rise in technological applications that are now available. How can you leverage these resources in order to boost your net income and to enjoy a winning edge?
Only the Best Will Do
One sure-fire way to take advantage of the power of the technological age is to employ only the most advanced and intuitive trading platforms. When creating a work of art, would you choose anything less than the best tools? This concept is just as relevant in terms of online investing. Choosing the right stockbroker platform is critical if you hope to keep abreast of the latest financial movements. These portals are literally the cornerstones of any successful investment strategy.
Appreciating the Smartphone Application
Modern smartphone apps allow us to take record snappy images, to chat with friends and to download music from our favourite artist. This very same flexibility has not been lost upon the world of investing. Most reputable providers offer highly intuitive applications that provide one-touch access to powerful trading instruments. Investors should take full advantage of these opportunities. No longer will they need to be confined to a laptop or a personal computer. They can now immediately check the value of an asset, perform lightning-fast trades and sell when the moment is right. Such 24/7 access would have been all but impossible only a handful of years ago.
The Increasing Importance of AI
Artificial intelligence is set to dominate the world of online investing in the not-so-distant future. Advanced algorithms will predict the movement of assets, recognise complicated patterns and even advise investors when the time is right to buy or sell. Such “learning machines” can provide novices with an edge that would be difficult to achieve utilising more traditional methods. This is another reason why platforms which are able to offer such amazingly advanced tools are preferred over basic websites.
The Need for Speed
Some of us can still recall the heady days of dial-up Internet. Now, even the most basic smartphones exhibit speeds which far outstrip quaint measurements such as kilobytes per second. 3G and 4G connections are common and therefore, one-off trades are now realities. This is one of the reasons why many traders are leveraging technology to enter into liquid positions such as those associated with CFDs and the Forex marketplace. Short-term profits can be excellent ways to provide balance to a portfolio and when paired with long-term positions, sustainable wealth suddenly becomes much more of a reality.
The fact of the matter is that we have yet to fully appreciate the impact that technology will have upon the trading community. There may indeed come a day when algorithms make the bulk of the decisions for the average trader. Nonetheless, we are living within an age that provides us with a wealth of opportunities if we can learn to appreciate how they can be utilised.