An astounding yes, would answer this question.  Technology most certainly can/is a major distraction in all aspects of our life. Of course, when used properly, it can enrich our lives. However, many have completely lost themselves in the new technologically advanced world we all live in.

One example of this, the next time you are out at a restaurant, look around at the other tables. You will notice a very large percentage of people have their face in their phones and are completely ignoring the other people at their table - it is a very sad sight to see.

Now, as it pertains to life as a trader, technology could be our best friend and our worst enemy at the same time.

Technology has allowed us as traders, to filter out securities and leave only those that fit our very specific parameters; whatever they may be. Completing such a task without the use of technology, would take an enormous amount of time – and time is money.

With that said, technology as a trader can definitely get in the way and become a bit overwhelming for those in the beginning of their trading journey.

Think about your trade charting software and all the features it offers. To keep things simplified, let us talk about the moving averages that so many retail traders try to utilize.

A moving average works until it does not. A 20-period moving average will give you a different read on a 1-2-3-5-10-15-minute chart. You will try and convince yourself that the 20ma is the “holy grail” when used on the 2-min chart; until you get burned enough times basing trading decisions off this simple average.

Can moving averages work? Of course, they can and do – until they do not.

The moving average example is just a basic explanation of technology use as a trader. Think about all the other features your software provides. Think about of the features your trading platform provides.

Do you think that your broker truly has your best interest at heart? Or do you think they are in business to make money from the clients by providing enticing features that lure in unsuspecting users?

Think about the level of manipulation that occurs in the markets daily. From Painting the Tape to Spoofing (which are both against regulations but occur daily), they are deployed with the use of technology. Those that use these tactics know that many traders make trading decisions based off Level 2 and/or Tape, (which all trading platforms so conveniently provide), therefore they are using technology to their advantage – not yours. Basically, they are using technology against you – if you allow them to, that is.

Like any tool in life, if used properly, it will make your life easier. But when you do not know how to use them, they can become more harmful than useful.

About The Street Trading

Consistently Profitable.

That's The Goal.

Start with a crystal-clear vision of where you’re headed, then effectively lay the foundation to reach that goal through a systematic process. Key is to focus on what you can control.

That's The Street Trading.

We provide a straight-forward, no-nonsense results-driven trading education, that cuts through the noise to teach new and existing traders on how the stock market truly operates.

Our attention is focused on building actionable knowledge about the markets from the ground up. We construct a foundation of the fundamentals behind consistently profitable trading that you can build a career on. Take the guess work out of trading and ultimately understand what moves the market to finally flow with the Street and Trade with Clarity.

Day Trading | Swing Trading | Position Trading - It all comes down to managing risk and market psychology.

If you’re interested in learning more about what we have to offer you as a trader, come check us out at www.thestreettrading.com

We look forward to joining you on your trading journey!