Internet technology has brought about a revolution in the mindset of people from all categories of life, and is now set to take over the business and trading communities as well!
Just take a look at some of the ways in which Internet technology has brought about a change for the better (though some would not agree with me!)–
(a) Advertisements centered round cellphones claim to be connecting people around the world. And it is true! Landline phone services have been relegated to the past–it is Voice over Internet Protocol now (VoIP). You save on costs and save on time!
(b) What about shopping? This is the greatest boon offered by the World Web. Be it fitness gear, clothes, books, DVDs, MP3 digital player–anything, everything can be purchased online from the comfort of your own home. You pay online, and everything is shipped out to your residence.
(c) Postal services and courier services are no longer in as much demand as they used to be in the past. The electronic mail service or e-mail has taken over!
(d) Internet technology has intruded into your personal life too! There are web sites specially meant for fixing up dates. You can check out the person of your choice before actually meeting him/her. No more unnecessary expenditure on soft drinks or food, and no more heartaches!
(e) Cookbooks are no longer necessary to figure out the menu for any special occasion. Cooking web sites can provide you with delicious recipes–as many as you want.
(f) The biggest headache for you and me is payment of bills before the respective due dates! Automatic payments are possible online. They could be related to loans, utility bills, insurance bills or credit cards.
There are many, many more ways in which the Net has revolutionized the world, but it would be too exhausting to list them all out here! So a few examples should suffice to give you a general idea about technological advances.
The latest “victim” of Internet technology is the trading world! It has introduced trading software. Before going in for any sort of trading software, it is advisable to check out its features–
(a) There should be a facility to allow simultaneous opening of different windows. You can then compare various exchanges or markets online. You can even work on all of the windows at the same time.
(b) It should facilitate the examination of various kinds of data. You should be able to compare these items at one go.
(c) There should be automatic evaluation of well-known market indicators. These are Fibonacci series, moving average and stochastic. The indicators should be so designed that they can be easily switched from one to another. For instance, going from a 5-day stochastic to a 9-day stochastic.
(d) Lastly, you should be able to track your profits and losses via regular updates on closing prices in the market.
Now, why has Internet technology come up with trading software and why would you need it?
Whether you are a broker or a shareholder, you are concerned with assets and securities–you trade them. You are also interested in how much you might have gained in the way of profits, or what are the losses you have incurred with unwise investments. All this is difficult to do manually, hence the entrance of trading software.
This sort of software is meant to be an electronic advisor for decision-making related to trading activities. Analysis of market trends is possible, enabling you to select the company/institution you would like to place your money on. A word of caution–all trading softwares do not necessarily function in the same way; so go for the best one that fits in with your needs.
But despite all the precautions you take, you are always at risk because prices never remain steady. And that is why the trading world was the domain of only elite businessmen in yesteryears. They knew how to play the game and how to benefit from it! Today, the whole picture has changed, thanks to Internet technology!
Old or young, newcomer or professional–all are welcome to try their luck! Sometimes, it may take just under an hour to win a huge sum or lose a large amount! Use the trading software so generously given by Internet technology to make wise decisions. You will only stand to benefit with a cautious approach!