How to Set up Your Computer for Trading
You've got opened positions. Either you're in profit or a loss, you'd want to be in control. So
the last thing you'd expect is to have your computer quit on you. That's why a good quality computer is essential
for trading.
Now that doesn't mean your hardware should cost a bundle. At this time and age of technology,
reliable and quality computer systems can be bought for below a thousand (US) dollars. Just save the extra dough
for capital!
Here are the recommendations for trouble-free trading:
Hardware
-
Intel Pentium IV 3.0GHz or AMD Athlon for high speed processing
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At least 512 MB RAM (Random Access Memory, the higher the better). If you want to set up more than one
monitor, prepare for at least 1GB RAM - these setups can eat up your memory big time!
-
A Flat Panel LCD (Liquid Crystal Display) digital monitor is preferable to CRT (Cathode Ray Tube) to
better protect your eyes as you will be looking (maybe even staring) alot at your charts. To provide
ample viewing area for your charts, use a screen size of at least 17 inches (or more), with a screen
resolution set to at least 1024x768.
-
A graphics adapter with excellent 2-D graphics for your charts, which most business systems come
equipped with.
Operating system
Software
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For those Web-based platform, browsers Microsoft Internet Explorer 6.X or Mozilla Firefox 2.X (or
whatever your broker specify)
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Trading software (such as Metatrader) that you can download from your brokers' web-site
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PC Simulator if you're using Mac but utilizing a Window-based charting platform
Internet connection
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ISDN 128 KB download/upload, DSL, Broadband cable + modem + router, and/or wireless for mobile trading.
You need world-class connection for data feeds and real-time intraday quotes.
UPS
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Uninterruptible Power Supply is a battery backup device in case of a power blackout. It stores power
supply so your computer can use it when there's no electricity. All you have to do is connect the
device to your PC, and when everything else goes black, your screen doesn't. Makes you feel safer being
able to see what's happening to your trades while the rests' in the dark!
Maintenance
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Make a habit of 'cleaning up' your computer: viruses and malwares can cause real harm to your computer.
Crashing, for example - right during a trade. Scan it using anti-virus and anti-malware software once
or twice a week, or anytime your computer starts to feel sluggish. Sluggishness could be a sign
that your computer is being infected. Also clean up all those unnecessary files so they wont be using
too much of memory. Ideally, trading computers should only be used for trading, but sometimes you need
to download files such as indicators or advisors just to try them - that's understandable. Once you've
tried, and decide not to use them, discard them. Or keep them in a backup external hard-disk. Regular
maintenance is extremely important; you'd want your computer to run optimally during trades. Run
scandisk and defrag, so if your system does crashes, it'll help reboot your machine faster.
You don't have to spend a fortune to buy the right kind of computer for trading, but don't
stinge on it either. Just remember that although the right equipment may help you experience smooth trading, the
bigger part of the equation is YOU. Without the right education, skill and experience, even the costliest high-end
system can't guarantee you success.
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