Laptop Vs  Phone Trading: Which One Is The Best?

Hello there, beautiful readers. It’s good to be back after taking a hiatus from writing. I wanted to jump right into the debate that comes up almost daily in the trading community and among the mentees who are signing up for my courses.

Forex Marketing.

The marketing side of forex trading favours the smartphone setup because it clearly portrays trading as an easy way to make money on the go from your smartphone.

You’ve probably seen the pictures of someone sipping coffee or even cocktails at the beach, tapping a button on a smartphone, and magically making $1,000 in just a few minutes. I’ve seen that, and that’s the kind of image that draws more people into trading because it screams “freedom” and, honestly speaking, most people want that kind of freedom. But if you’ve been in the markets for any length of time, you know the reality is far less glamorous.

Laptop Trading

If you’ve been following this blog as well as Forex with Ntombi Podcast, you definitely understand how vocal I am about proper planning, mindset, and trading psychology. I am a firm believer that trading should not be chaotic or stop you from being productive elsewhere.

Keeping your trading activities strictly on the laptop allows you to view your trading differently from the way you view your gaming apps. Your mind is also able to view it as a serious activity that should be planned instead of randomly opening it when you are bored. Opening your trading platform at a set time means you’ll only open it when there is a reason to trade, and you are ready and mentally prepared. 

I also understand that most traders believe it is impossible to plan for live trading sessions because they think opening a trading account means they should be glued to the screen the whole day fishing for random trading opportunities. If you didn’t know, that is absolutely unnecessary. You can have a structured way of trading. I published a podcast episode touching on this; you can listen to it HERE.

Phone Trading

Most traders would argue that phone trading offers convenience. Granted, but at what cost? They also overlook that it is one of the leading causes of over-trading.  If trading is that easy to access, it is harder to build self-discipline. Almost every person that I speak to upon signing up for my Risk Management Course shares the same challenge of struggling with discipline and staying away from the trading platform; as a result,, they are constantly blowing accounts. 

I  don’t want to get started with sharing the stories here, but one mentee said, ‘I used to place trades while at the grocery shop waiting in the queue to pay for my groceries’ I’ve heard many stories. Another one said he used to place trades while at the bus stop waiting for his afternoon bus after work, and another one said she once traded while at the salon doing her hair. We both laughed at her and added that she should have read those magazines they put for us at the salons. I also feel like if you are on holiday, rather use your phone to take great pictures and not view charts while at a resort relaxing (giggles).

The Verdict: Give Them Roles.

This post is not to dictate to you on what you should do. This is to give you information, and you can make an informed decision. If you really love your phone trading app and you’d rather keep it, at least assign specific roles to each. Use your laptop/desktop for execution and strategy. Perform all your analysis, calculate your risk and execute all trades at your desk. Use your phone to set news alerts, monitor active positions, manage risks and close when you’re on the go.

Lastly

Respect the process and treat your trading professionally, like a business. You wouldn’t sign an important business proposal or document while you’re at the taxi rank or bus stop or inside an overcrowded train.

Thank you so much for stopping by. If you found this post valuable, kindly share it with your peers. Feel free to share your views in the comments, and subscribe for email notifications whenever I publish a new blog post.