TRADING FOREX VIA SMS with mobile phone

Discussion in 'Forex' started by realticktrader, May 19, 2005.

  1. Hi all,
    what do you guy think of the idea of being to do this:

    You can use your mobile phone to trade your Forex account from anywhere...I am talking about any trading account from any broker with your mobile phone via SMS..
    For example: You have an account with CMS (or FXCM, or OANDA, or whichever broker) ... while on the receive a signal develivered to your cell phone telling you to BUY... instead of calling your broker...what you would do is send an SMS = "B" to a phone number(i.e 12124567890)... and 5 second later.. a confirmation SMS come back to your mobile phone saying you just bought EUR/USD at 1.2630 at your account with CMS...with all the limit and stop entered..
    Limit and stop will be either preset at your account... or execute as in your SMS message...(for example...instead of just SMS = "B" will be SMS = "B, limit, stop" ...
    And you will be able to do this anywhere in the world...or from country of your choice...

    The security setting will be that: only your own mobile phone can be used to perform these BUY SELL will support BUY SELL at market, at limit, set limit, set stop.. basically what you include in SMS message will be interpreted and execute on your account automatically.. with confirmation send back to your mobile phone:
    Basically it is like a new Google SMS service that when you send an SMS request , it return information to you...while with this idea you send SMS to a number and somehow it executes trade in your account at home while you are on the road using cell phone via SMS...
    Share your thought on these see if it is worthwhile to pursue..
  2. Another technology would be being to execute trade on smartphone and PDA with any broker (that only have trading application that can only be run on desktop)... Instead of having to stuck sitting at the desktop in order to execute your trade at CMS FXCM OANDA or any broker that only allow executing via trading software....Now you will have to freedom to execute your account with FXCM CMS OANDA (or anybroker) via a web interface through your PDA or smartphone on the road as if you are there at the desktop using trading application..

    I am in possession of these 2 above technologies: mobile phone SMS trading and web based interface ..Both capable controlling your trading application at home..
    if you guy think it is good idea I would develop further and let you beta test it on demo account ...
  3. I don't trade from a phone, but you can count me in on your autotrading technology, which I suspect you have....I have been looking for a solution...
  4. BigGun


  5. Years ago I wanted this technology/ability. But here is my current thinking.

    If you have the technology to send you alerts, why not just let the technology take the trade? This way you bypass the need to confirm the trade via your mobile phone. What information can someone know, out on the road with only a mobile phone, or even a PDA, that your automated technology/software cannot already know?

    Meanwhile, I'm gearing up to turn on automation in Tradestation. It will be a dream come true...something I've wanted to do since 1997, before it was cool. :D

  6. Peter35


    Yes, you can have a managed account based on these signals so you don't have to do anything.