As a trader, you are always looking for ways to get an edge over the competition. Many now use smartwatches for traders. A smartwatch for traders can give you an edge in several ways. First, it can help you stay connected to the markets even when you are away from the computer, say on an adventure.
You and I can’t deny it. A smart watch is a great piece of technology, which has served plenty of purposes in our daily lives. From health (ECG, Blood pressure, heart rate, sleep tracking, stress monitoring). to fitness (runs, walk, calories, speed, GPS tracking) and to payment (contactless NFC payment). Fitness and health account for the greatest part of their global sales going up steadily, to over 120 million before. It is no surprise if wall street bulls and bears start using a smartwatch for trading.
In this article, we will discuss the top smartwatches for crypto currency, forex and stock trading, and why you should smartwatch as a trader. A smartwatch is a high-tech market watch wearable device which can keep you constantly connected to your trading platform for added security and peace of mind.
The Best Smartwatches for Traders
A wearable with smart watch apps can help business owners and employees to monitor trade orders and open positions, without looking at the screens.
The secret of making profit in stock market, is to keep up to date with market prices and trends, and a smartwatch can help a fund manager and his team double performance. Time is a factor for entering and exiting the volatile market.
It is my earnest believe that trading apps installed in smartwatches can do much more than watching your trading screen in the late afternoons, when you carry sleepy, tired eyes.
Amongs the best, Apple Watch 8 and other smartwatches are becoming increasingly popular among traders, as they offer a convenient way to stay connected and receive important information while on the go.
While the Apple Watch is the most popular option among traders, there are a number of other smartwatches available that offer similar features and benefits.
#1 Apple Watch series 8 – best smartwatch for every stock trader
It is common to think of Apple watches, when someone mentions the most popular smart watch brand the world has. Series 8 is the newest apple watch model, and series 7 is second, with sizes size under 46mm. The apple watch series 8, hold the best overall performance for health tracking, heart rate monitoring and fitness.
Given series 7 has an Apple Stock app, you can’t deny this apple watch is practically designed not for people who do business, but for guys who mean business. If you want to keep track of every market information without checking your PC or phone screen, head to Apple App Store and download the market watch app.
- Display: 1.9″ (484 x 396p) Retina OLED
- Size: 41mm (42.3 g)/45mm (51.5 g)
- Water resistance rating: IP6X, 50m
- Battery life: 18 hours
- Operating system: watchOS
- Compatibility: iOS iPhones, iPads, Mac PC, & laptops
- Cellular / call/message support: Yes
Why is it the best apple watch for traders
- Has proprietary Apple stock app installed
- unrivaled support of third-party applications plus apps for trading
- fast and fine-tuned OS
- cellular LTE support is an added advantage for brokers and traders
- the elegance and unisex design of apple watches make them incredibly classy for guys who dress in the wall street style.
Unfortunately, apple watches have power hungry features and that is why the battery life is still a little problematic. The battery can barely make 24 hours, but you can find ways to extend the apple watch battery life. How frustrated would you feel losing trade psositions and signals because the watch battery is pretty low?
#2 Samsung Galaxy Watch 4 – best android smartwatch for traders
Samsung is originally the South Korean electronics company with a large market share. In the smartwatch industry, Samsung models come second, including their Galaxy options. Samsung galaxy Watch 4 is their flagship model with Apps for trading.
Since Samsung’s smart watch uses an android based platform (wear OS), it is via the Google Play Store and the Galaxy Store where to download the trading app.
Samsung Galaxy 4 is an elegant android wear smartwatch. If you want to use a Cryptocurrency dashboard on your smartwatch, use Hæsh. This is a modular watch face that has full-fledged Cryptocurrency price tracking, calendar and weather. Hæsh was developed by BoostApp. This android Wear teams was formed by a group of serious guys who crazy about cryptocurrencies.
- Display: 1.4″ (450 x 450p) Super AMOLED
- Size & fit: 40mm (25.9 g)/44mm (30.3 g)
- Water resistance rating: IP68, 50m
- resistant Battery life: 36 hours
- Operating system: Wear OS
- Compatibility: Android phones
- Cellular connectivity: LTE
- Sleep Cycles, GPS Fall Detection, Bluetooth
Why it is good for trading
- option for non-iPhone users
- good support for third party apps, plus those for trading
- Has both LTE and non-LTE
- Supports NFC for contactless payments
- The classic Galaxy watch 4 is formally designed for business or office use
related: Best Android Smart Watches For Women
#3 Garmin Venu 2 Plus – best smartwatch for active traders
Garmin is particularly useful and helpful to track latest Bit- or altcoin price index! Widgets and apps are available for Garmin smartwatches.
Particularly, Garmin Venu is an iPhone and android compatible smartwatch, with limited third-party apps. Garmin is very much suited for outdoor adventures and fitness. If you are an active trader, Garmin Venu is the best smartwatch to keep track of market trends and trade positions while running.
While this running smartwatch operates on a proprietary Garmin OS, which is compatible with both Android and iOS devices. The health-tracking capabilities make this wearable very expensive, although it lacks LTE support.
Capital.com has developed a Bitcoin Price Widget for Garmin Smartwatches. This is a remarkable innovation that would help most crypto traders stay in touch and stay up to date, with the crypto market price feeds.
One other way is to pair your Garmin smartwatch with a smartphone to sync trading alerts. One user in Reddit confirmed he installed a TradingView app in his phone and let it send the notifications to his Garmin Venu Plus 2. I guess, it works for any other android smart watch.
- Display: 1.3” (416 x 416p) AMOLED
- Size: 43mm (51g) Water rating: IP68, 50m
- Battery life: 7-10 days
- GPS, Google map
- Operating system: Garmin OS
- Cellular Connectivity: No
Why we like it
- A Spotify app runs on this smartwatch
- Best smartwatch with runners
- Has elegant design that suits office employees
- Supports message replies or call answering
How can a smartwatch help with trading stocks, forex, and crypto?
If you have traded stocks, forex, or crypto currency and have thought of the best Smartwatch for traders, you were not wrong. Staying up to date with price movement, alerts and when to buy or sell is vital to staying competitive in the market.
Phones can be a little problem for traders and brokers, so if you don’t wanna miss your trades or get timely notifications, check forex or crypto-trends from your wrist, get the best smartwatch for trading. The most interesting part is that you can actually get in and out of the market using your smartwatches even while exercising.
While a smartwatch won’t make you a successful trader, it can help you become a better one by giving you quick and easy access to market data. As a trader, you are always looking for an edge that will help you make better and more informed decisions. A smartwatch can be that edge.
Whether you’re a day trader or you prefer to swing trade, a smartwatch can be a powerful asset to have while you’re trying to make money in the markets. Here are four reasons why you need a smartwatch as a trader for forex, stocks, cryptocurrency, and options.
Place a trade orders
One most important thing is to make an informed decision and make trades on your wrist. Not many brokers would allow you to place a trade directly from your wristwatch, but many would get to understand the convenience.
If you have been a trader for a while, opening a buy or sell position on a phone or computer can sometimes be time-consuming. A simple swipe from a smartwatch screen is quick enough to close trade positions to catch some pips in a fast, volatile market. A smartwatch trading app must be compatible with your computer or smartphone to process the order.
Keep Track of the Markets
How you monitor the foreign exchange, or stock markets, is one secret to having a successful trading strategy. A large screen PC is a great way to track the market performance, but a smartwatch tiny screen can only display limited market data.
Nonetheless, you can still view the current price (green for bullish, red for bearish) on the chart. Some apps on smartwatch for trading only have to show not more than two stock tickers at a time.
Get Notifications or alerts
Before executing a trade, a serious trader expects some of the market to meet condition. A smartwatch can issue you automatic notification when those criteria are fulfilled.
What about receiving trade alerts from expert’s brokers? The good thing with receiving trader order alert from your wrist is that you never have to strain your eyes on your phone, tablet, or computer again.
Make traders Get organized
The first step to becoming a successful day trader is being organized. Organization keeps traders stay focused, to filter out market noise and pay attention to market news. With such much planning to do for trading, a smartwatch can be the best tool to create a roadmap for your trading. How does a smartwatch help a day trader become organized?
A smartwatch app is the best tool to set trading goals and, just like you, set fitness goals. These goals will guide you to trade anywhere you go. Everyone wants to make a lot of money and become a millionaire. No trader can get rich without settings, specific and realistic goals. A smartwatch with goal-tracking apps and the ability to set up reminders can give a trader a bigger achievement.
You want to make $50/day from day trading stocks, forex, or crypto? That is a specific and realistic goal which you will know you are halfway done when you catch pips worth 25 dollars. Whether you are an options trading and penny stock trading, you got a trading style and a smartwatch can be part of the tools to carry on your strategy.
Create schedules and Save time
One way to have a road map to successful trading is to create a schedule of trading activities. Remember, you got friends to visit, seminar/webinars to attend, and family dinner to attend, in addition to trading. A smartwatch is a great tool o create a daily trading schedule.
A good trading schedule looks similar to “Every day at 5-7AM, I am going to analyses the previous market performance and choose how to trade, when markets open at 8:00AM” Smartwatches have calendars and reminders and would save traders know prepare, start, or stop trading. Moreover, A schedule saves time and keeps professional traders more focused and organized.
Track progress and get real-time updates
A smartwatch is one smart technology that can you keep track of performance, and see how it related to initials trading plan or goals. If you wear a smartwatch that gives real-time update of the market, you will know whether your orders are making money or losing money.
What if you discover that you analyzed the market wrongly while you are driving somewhere? A real-time update from your wrist can help you make informed decision earlier and choose to close the opened position or edit the existing orders. If the smartwatch app allows it, you can even move the pivots and stop market advances.
Stay Mentally focused and connected
A good trading environment is supposed to be free or all sorts of distractions. Indirectly, a smartwatch can help create a productive trading environment where you get the full concentration you need.
Come to think of it. Calls, messages and emails popping up from your smartphone can be unnecessary distractions when you are deeply focused on charts, struggling to analyze the market trends.
Serious traders don’t welcome distracting sounds and noise. The best way to deal with these potential distractions is to keep your phone away, and wear a smartwatch with. If your smartwatch can make, receive, or mute calls, browse the internet, connect Wi-Fi, Bluetooth, and text messages, there is absolutely no need to carry a smartphone around to the trading floor.
You can still access emails and social media messages from your wrists without distracting sounds. Besides, you just have to mute all unrelated alerts and notifications from social media and other applications. You can still do all this with a phone, but a smartwatch is better at creating a quiet or excellent trading atmosphere.
Overall, it Monitors Your Health
You don’t wanna feel sick when serious economic news that moves the market is coming out in a few minutes. If your health show signs of stress, sleeplessness and discomfort, a smartwatch is the best health tracking device to know your health status almost immediately.
On your stock trading floor, it is likely that fatigue, feeling or short breath, high blood pressure, and environmental temperatures (plus humidity) can significantly affect your physical wellbeing, trading decisions and performance.
Whether it is cryptocurrencies, forex, or stocks and futures, top traders often search for powerful tools that will help them maximize trading performance. A smartwatch, like smartphones, are just a few of the advanced trading tools built to get traders ahead.
A smartwatch app for trading can let users quickly place orders, delete orders and edit orders on the go. A good market tool is one that allows you to trade with flexibility, at ease and efficiently.
You want to check your spot and futures in one place? A smartwatch is the best electronic gadget that allows you to trade efficiently. As many apps are being developed, smartwatches will soon become specialized for serious traders and investors, as it is for fitness and health professionals.
Not long, top brokers will develop their own smart watch app for trading. Why should you get started right away?