When day trading started in the 1990’s, no one expected it to grow into the industry it is today. Those who took part in day trading were only a selective few. But now, thousands of people are trading stock, currencies, and options all from the comfort of their own homes. Technology has played a huge role in changing the way people do day trading.
Today, we are going to learn how day trading has changed over the years and what someone who is planning to get into the industry can expect. If you are new to day trading or you simply want to learn more about it, make sure to check out the information below.
Ease of Access
Advancements in computer technology have had a major impact on day trading. Nowadays, trades can be made anywhere in the world as long as there is internet access. Traders often use this ease of access to their advantage and choose to live in countries where the cost of living is low.
These digital nomads as they are called are really cashing in and living the life of their dreams. Upgrades in computer technology made all of this possible. Some traders are now even using their smart devices to trade. As you will learn below, there are many traders who rarely even turn on their computers. In the past, trading anywhere but in front of a computer screen was unheard of.
Advanced Order Entries
Speed has always been a factor when it comes to day trading. But now more than ever, traders rely on speed to make split second decisions. By using hotkeys, a trader is able to make advanced orders at exceptional speeds. With the click of a button, traders have the ability to jump in and out of positions in the blink of an eye.
This gives traders greater chances to earn higher profits and minimize loss. Additionally, traders will be able to place dozens of orders an hour giving them the chance to better position themselves in the market whether they are trading penny stocks or big names like Apple or Facebook.
In today’s day trading world, traders have the freedom to trade on their smartphones and tablets. This means that traders no longer have to sit in front of large computer screens all day. They can now trade while on the go from just about any location on the planet. As long as there is fast internet access, traders can even be on vacation while making money.
This gives them freedom like they never had before. Traders in the past would have probably never dreamed of having so much freedom while enjoying their favorite profession. For sure, today’s traders should consider themselves very lucky.
As you have learned from the information above, day trading has changed dramatically over the years. Today’s traders have many options that their counterparts in the past simply didn’t have.
With computers getting faster by the minute, the future of day trading will likely to keep changing. People who wouldn’t have the chance to trade before are now enjoying lucrative careers day trading from the comfort of their own home.