According to a recent survey, more than 60% of traders believe that virtual reality trading will help them become more successful. Furthermore, more than 90% of traders reported that they would use virtual reality trading if it was available.
Before the 18th century, trading was a physical activity. Then came candlesticks, that revolutionized the trading world. With the rise of candlesticks, traders started to understand markets better and speculate on price movements. After that, the age of technology was to come; when people started to trade stocks, currency, and commodities digitally. Now, with the introduction of virtual reality trading, trading takes a whole new approach. Here are the factors that attract traders toward Virtual Reality:
Multiple trading screens
One huge advantage of VR trading is that you can have multiple screens in front of you. A big whole world map is in front of you to see which markets are currently hot. Another screen to your broker’s platform to place trades, and a newsfeed to the side to stay up to date with the latest news. Even with an ultra-wide monitor, it’s hard to keep track of things as a trader. In VR, the limits are not sizes, but the big whole view of 360 degrees.
From multiple viewpoints
Another great thing about using VR in trading is that you can view things from multiple viewpoints. So if you wanted to see what was going on in different timeframes, you could do that simultaneously without issue. This could come in handy for day traders who want to make split-second decisions. Also, trading multiple stocks at a time is easier than ever before in VR.
3D is better
Seeing things in three dimensions can be really helpful in understanding what’s going on. For example, you could see a 3D representation of the candlestick charts. Not only is this really cool, but it would also help you make better decisions as a trader. For example, you could see how the trends of different assets correlate with one another. Also, VR trading opens rooms for new ways of looking at the financial markets other than candlesticks. For example, instead of charts, with open, close, highs, and lows, you can use a more natural way of looking at things, such as with an “advanced heat map” that shows you where the price is.
Use virtual tools
In VR, there are a lot of different trading tools you couldn’t have used on a normal digital screen. Data is critical in trading, and being able to analyze it in new ways can be a big advantage. For example, you use technical indicators such as the RSI, Moving averages, or new virtual indicators. In VR, the indicator shows the mood of other traders in the market. That’s damn helpful.
Stay calm in the heat of the moment
One of the hardest things about trading is staying calm when the markets are going crazy. In VR, you could practice staying calm in virtual situations that are similar to what you might experience in the real world. Yes, the point is about practicing trading in VR, rather than actually trading in it. But still, VR teaches a lot of things that sharpen your trading skills.
No more distractions
One of the worst things about trading is the distractions. With VR, you can trade in a completely distraction-free environment. You don’t have to worry about your kids making noise, your dog barking, or your phone ringing. You can just focus on the task at hand and make better decisions.
Travel while you trade
For many speculative day traders, traveling is difficult, as they need to stay close to their trading station. But with virtual reality, traders can travel while they trade. As VR is all about creating a 3D environment, traders can also take their trading station wherever they go and make trades from anywhere. So, you can trade during travel, or travel during trading. Anyways, you can stay connected to the market.
Bottom Line
While it may seem like a futuristic concept, it is actually a reality that is already being used by some investors. With the help of virtual reality, investors get a realistic view of the market and make informed decisions about their trades. This can not only give you a fair edge in the markets, but also make trading more efficient and enjoyable.
Brit strictly hates when someone says "the future". She considers herself a futurist and believes that there is no such thing as future yet.
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