Regardless of whether you study trading alone or in a commercial training course, there are important tools that are a prerequisite for success. This article only scratches the surface of the many devices that professional traders use, but it should get you on the right track to become a full-time trader. Preparation is critical when you step in front of the computer, whether it's your first day of trading or your 20th year of trading. You just can't be too well prepared.
One of your main concerns will be the computer you trade with. Your six-year-old laptop with 2 GB of RAM is probably not a good choice for trading. I prefer desktop computers for my work. They are robust compared to their laptop counterparts and can be used for a certain period of time. In addition, a desktop can use cross-firing graphics cards, so you can increase the number of monitors you choose. I don't want to jump on monitors with my gun, which we'll cover later in this article. For your first commercial computer, I would lean towards a business-oriented box and avoid the commercial variety computer, which is loaded with all kinds of social media-oriented programs and multimedia programs. The more barebones the computer has, the better. These are the minimum specs I would look for:
Intel i5 or i7 processor or comparable AMD processor (I actually prefer to use AMD gaming chips in my computers)
8 GB DDR3 RAM and 16 GB would be even better.
As a good quality motherboard, I prefer ASUS motherboards because they are workhorses and they are relatively inexpensive compared to Intel. The point is to get a high quality motherboard that can withstand long hours of use
I would put my operating system on a solid state drive and save data on at least one physical 500 GB drive.
A high quality graphics card for which you don't need anything near a $ 200 game card, just a high quality card. Most sound cards are on the motherboard and that's fine.
· A good quality surge protector, and I don't mean the small headers. I'm talking about a surge protector that actually protects your computer.
I prefer to trade 4 monitors, but initially two monitors are enough. Acer makes some great 21-inch monitors that are priced right. With a second monitor, you can display multiple time frames without having to switch a single screen back and forth.
I firmly believe that you should keep a close eye on your trades so that you can review them and learn from past mistakes. There are several great commercially written spreadsheets, and which one you use depends on your personal choice.
Finally, find a nice, quiet work area where you can work continuously. Trading requires tremendous concentration and interruptions generally cost money.
Proper preparation means one less detail to worry about when the trade gets hot and heavy, and you have a computer setup you can count on. As always, good luck with trading.