With all the advances in technology over the past number of years online trading has become one of the most popular ways to trade. Now you can trade from home, from work, and even while on the road.

It is truly convenient to have all of your brokerage information at your fingertips. Stock traders can tell at a glance exactly where their account stands. Being able access all this information from virtually anywhere in the world is the ultimate in flexibility.

Online trading software is packed with features. You can pull up quotes, stock charts, and with some packages even do sophisticated technical analysis. Want to know when your favorite stock hits a certain price level so that you can buy it? No problem, simply set an alert and have an audible alarm go off when the price reaches your level.

"Trade parking" has long been one of my all time favorite online trading features. I like this flexibility because rather than having to enter all the information for a particular stock at the time I need to place the trade I can have this information parked in my software and simply place the trade with the click of a mouse.

Simulated Trading - Many online trading platforms have the ability to allow you to "simulate" real trading. This means you can enter and exit orders without any money being at risk. In my humble opinion this is an absolutely tremendous feature. Many people also refer to this as a practice account. It's sort of like driving around on an empty parking lot on a Sunday when you have your learner's permit. It gives you an opportunity to familiarize yourself with and master the basics before you go out onto a busy street.

One thing to keep in mind while doing your simulated trading is to make it as realistic as possible in order to get a feel for real trading. In other words don't overtrade just because you can't lose money at this stage. Trade as if the money in the simulated account were real.