The IPhone Trade

[Bfbusa 10]

One of my biggest stumbling blocks in trading is getting scared out of a winning position. Sometimes just covering your P&L screen just isn't enough. Sometimes you have to put a trade on and walk away from the screen.

 

Using the iPhone with the Logmein app, I was able to put on a position on the YM on infinity platform, move the remote screen to just the chart and then put the phone down and go take care of something else. I would only take a glimpse once in a while to look at the chart. When I see it pass my target or stop price, I know the trade is done. I made +10 on the day.

 

Using the iPhone makes it difficult for you to jump in and out because the screen is so small. You also have to be a little careful or you could accidentally fire off a trade in the wrong direction. Make sure you are first acclimated with the Logmein app first. I know, some of you are saying "what" that's crazy, but I feel it is helpfull. Feel free to share your thoughts.

[jonbig04 10]

I love the iphone as well. Often I take trades around 10am that I hold until the end of the day, so it's nice to be able to walk my dog, shop, eat lunch etc while still monitoring the trade. I usually do it with the bloomberg app because it's simpler. I just take noe of where I entered (my stops are always the same) and I can watch it throughout the day, even though its delayed a little bit, that doesn't really matter if you're only checking it every hour or so. I've also done it with logmein and other apps, but since I look at multiple charts when placing a trade it would be too difficult to actually trade from the iphone, though you certainly could. It is kind of fun being able to watch the chart in your pocket wherever you go. iphone FTW!