The world of share trading is almost unrecognizable from what it was a decade ago. Whereas trading used to be the domain of high flyers, business executives and people with immediate access to Wall Street and the London Stock Exchange, the reality is now completely different. Although you can still head down to the stock exchanges, wave your papers in the air and shout “SELL! SELL! SELL!”, it’s no longer a requirement, and technological advancements mean you can trade at home in the comfort of your own pajamas, leaving the histrionics to Hollywood. In this post, we take a look at this in more detail as well as examining how share trading has changed over the past decade.
Although Facebook was around a decade ago, it had a low membership and was only used for photos. Sites like Twitter were merely a pipe dream.
Nowadays, a decade on, social media rules the roost, and this is fantastic news for traders. On Facebook, like minded traders can meet, discuss trades and help educate each other through Facebook Groups. They can also set-up events and formal meetings where they can make new friends.
On Twitter, traders can follow industry influencers and can receive hints, tips and news in real time to help better inform their trades. Through the use of the correct hashtags, they can also find relevant information quickly, saving them time.
In short, social media has helped make education simpler than ever before, giving people direct access to industry secrets they could have only ever dreamed of a decade ago.
The Rise of the Internet
Secondly, the wider rise of the internet has also been a key factor, as it has allowed for the growth of high quality share trading brokers that can be accessed by anyone. This advancement means that anyone can now be a trader, and it’s no longer just the domain of the super-rich who can afford to have somebody trade on their behalf.
Now, an average Joe can trade on their own in minutes via a web based platform. There’s no need to phone brokers on trading floors, or even have someone act on your behalf in Wall Street. Everything can be done at the touch of a button.
Is Mobile the Future?
Looking to the future, the advancement of smartphone technology looks to be the future. The creation of mobile data plans and smartphone apps looks set to completely revolutionize the way we trade; partly because it has already started to.
Mobile data now means that traders can execute trades from anywhere in the world. Regardless of whether you’re at home, at work or even anywhere in between, you can trade when you need to as long as you have a data connection. This saves people from being tied to their desks, providing them with ultimate flexibility.
If the tide is turning against you, then you can cut your losses in an instant. If you spot an opportunity, you can trade immediately and stop people from getting their first. Trading can be a dog eat dog world, but mobile trading can put you ahead of the rest. As such, it has a big, big future.
To conclude, shares trading has revolutionized over the past decade, with technology at the cutting edge. From mobile trading to internet enhancements and even the creation of social media, the way we trade is totally different to how it was a decade ago. The only question that remains is: how much more will it change in the next decade?