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Trading is a competitive business, and one can assume the person sitting on the other side of a trade is taking full advantage of technology. Charting platforms allow traders an infinite variety of methods for viewing and analyzing the markets. Back testing an idea on historical data prior to risking any cash can save a trading account, not to mention stress and frustration. Getting market updates with smartphones allows us to monitor trades virtually anywhere. Even technology that today we take for granted, like high-speed internet connections, can greatly increase trading performance. Using technology to your advantage, and keeping current with available technological advances, can be fun and rewarding in trading.
. Being able to analyze charts, run historical backtests, and receive alerts on your phone makes it easier to make smarter decisions. It also reduces stress and helps protect capital by avoiding errors due to lack of information. Staying up to date with the tools available can make the difference between losing and succeeding in the market.