Learn what “electronic trading” means, its pros and cons, and how to take advantage of it.
Pre-1990s, before the personal computer revolution, individual traders would communicate with brokers through the telephone.
My story of trading in the 1990s in England is typical of how most people traded before electronic trading—buying newspapers or magazines for research and phoning brokers to place orders. When electronic trading arrived, I discovered an online trading software, Warden Brothers, with access to charts of US stocks. This electronic charting platform helped me develop my technical analysis skills and gave me access to analyzing a much broader range of stocks in the US.
For example, pre-2000, most banks, and brokers required individuals to have about a $500,000 account size to trade Forex. Now, almost anyone can open a Forex account for as little as a few hundred dollars.One of the first books in the west on the subject, “Technical Analysis of Stock Trends” by Edwards & Magee, was first published in 1948. Ralph Nelson Elliott invented
Many brokers will let me trade can trade US stocks, UK stocks, crypto, Forex pairs, commodities such as gold or oil or all from one account!: an option can be a call or a put option , and they have different “strike prices” and expiration dates. I can go long or short of an option contract, and I can combine different options contracts to produce different outcomes.
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