When it comes to day trading computers, there are a few different view points on what you need and what you should have. Some people can trade from the comfort of a laptop, while others require multi-screen trading computer systems that have 6 monitors, and two PCs. It comes down to a matter of personal preference, for the most part, and you should experiment with different set-ups to see what’s right for you.
I tend to want to keep things on one screen. At most, I’ll have my laptop hooked up to a 25 inch LCD, and that’s it for my on-screen real estate. I am a minimalist when it comes to trading; I don’t like a bunch of indicators and charts. At most I’ll be looking at 2 or 3 charts at the same time, the time/sales window, and some other very basic information. It would be kind of cool to have one of those huge set-ups with multiple screens, but for the most part I think all that does is add distractions that are really unnecessary for trading.
As far as hardware is concerned, you really cant’ get a computer these days that’s too slow for day trading. While trading does require a significant amount of computer power, simply from the amount of information your computer has to process at any given time, computers have risen to meet and exceed any minimum requirements you’re going to have for a very basic day trading computer set up. At most, you’ll have to boost the RAM – 2gb should be about the minimum there. Only when you start adding multiple monitors and many different charting or trading programs are you going to need to upgrade things like the video card and processor.
You can actually find custom computers for day trading at various online outlets. These systems are built specifically for the trading applications that you’re going to need, and are multi-monitor ready (usually up to 4 monitors per PC). These day trading computer systems will also often have safety features like an uninterrupted power supply in case the power goes out, and redundant hard drives in case one crashes.
Some people also like to have an extra computer around just in case their main day trading computer setup crashes. This allows you to close out your positions, or even continue trading, depending on how well equipped your back up is. If you’re very cautious you might even have a back-ups ISP, in case your internet goes down. Getting caught in trades when you don’t have access to your account can be a nightmare, so at the very least you should have a cell phone handy with your broker on speed-dial so you can close out open positions if something catastrophic occurs with your equipment.
For software, you’re going to want to run your trading programs on a Windows XP machine. This is the best and most versatile platform out there right now which allows the use of the best charting software. I will never trade on a Vista machine, and unfortunately there is nothing on the Mac that is anywhere near comparable to the software available for XP as far as trading-related programs go. The best you could do on a Mac is run programs through a virtual XP environment which may degrade execution and data speed. Beyond your OS, you’ll want an advanced charting package, which you may have to pay for through eSignal or some other premium provider, and you’re going to need an interface between your broker and your computer. You might use your broker’s order system, you might trade through your charting platform, or have a separate system entirely. That’s really up to you. Finally, you’re going to need some sort of real-time Data feed, which will most certainly cost extra. Briefing.com is one of the cheapest and best options available. Their bite-sized pieces of news are perfect for providing the information you need to get into or avoid trade.
There are as many variations on the set ups for day trading computers as there are day traders. For the most part it’s going to come down to your personal preference. Some people would feel very claustrophobic on a one-screen set-up, and others will feel that 8 screens is way to distracting to do any meaningful trading activities. If you’re day trading for a living, you’re going to want to take the time to find a setup you can deal with all day every day. My suggestion is that you start small, see if you like the space you have, and slowly expand out from there, one screen at a time, until you’ve designed your perfect day trading computer.
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