Getting the Right Equipment for Day Trading

Anyone with a computer and an internet connection can be a day trader from home. But in order to be truly successful at this occupation, it’s going to take some serious investment on your part.

Since the nature of day trading can escalate very quickly, you need to always be on high alert, as any changes to the market value, big or small, needs to be carefully monitored in real-time so as aid in the decision to buy or to sell. And if the tools you have in your home isn’t on par with your speed, then things could get out of hand quickly.

day trading

So before you learn how to become a day trader, consider setting up your home with the best equipment that you can have.

1• Computer Setup

Since you’re going to do all of your tradings online, it’s perfectly obvious that you’re going to need a computer and a fast internet connection.

And the fast-paced nature of stock trading means that you’ll want to get these systems as fast as possible. This means that using an either laptop or worse, netbooks, is going to put you on a severe disadvantage.

At the very least, having a personal computer with a quad CPU core and at least as many RAM as possible is the minimum specs required so you can get your trade information at a reasonable speed.

Though a computer with two quad cores (that means 8 CPU cores) and RAM that fits well into the double-digits gives you the advantage of getting your information in real-time, while also being able to browse the web, open your Office application, and do other stuff all at the same time, with no visible speed penalty.

2• Monitor Setup

Since home trading usually involves staying in front of the computer for long hours while keeping track of several data at once, a large flat-screen monitor is a must in order to reduce the strain in your eyes and to not lose your focus. Or you can purchase two or three monitors so that you sort out your windows in two or three different monitors at once.

3• Proper Software – Aside from your brokerage account at Global CTB, plus your analytics and trading software, now’s the time to put your Microsoft Excel skills to its fullest, as a spreadsheet software will allow you to track your performance and analyze your returns during the entire trading process.

Of course, all of this software should be open in several windows at once, so you can quickly access them whenever the need arises.

4• Miscellaneous – Since you’re going to stay in your computer from the early morning until at least late afternoon, you may also want to procure an ergonomic chair, in order to make yourself very comfortable as you make your trades. And a nice cup of Joe is always a necessity, so having a coffeemaker nearby will help you relax, and ease your sense so you can retain your focus.

All of this equipment, plus the capital needed to start trading, is going to cost you a hefty sum, but think about it. If you can be successful in the industry of day trading, these are just a small price to pay for the millions of investment returns you can acquire.