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Not a good idea because of the need of continuous internet connection which is not always the case, especially if it is a phone and you may be in low signal zones at times during the day. Not to mention that it could lead to high data usage costs in some cases. Otherwise it will lead to high CPU usage which could cause battery drain and high working temperatures.
In the future with 5G I believe this will be possible, and with faster and more capable devices, their speed and power will match that of computers.
There will also be a risk of EA's disconnecting at times, but I would say it would be a good alternative to slower paced long term trading strategies, where lag doesn't really matter.