Are you new to day trading and are looking to setup an awesome trade station? If so, you have come to the right place! Having a trade station will give you the tools you need to become a successful day trader.
Below you will find a step by step guide that will help you put together an awesome trade station that can help you make more educated trades. Let’s get started!
The first component and the heart of any trade station is, of course, a computer. This will be one of the most expensive parts of your station but it is money well spent. When looking for a computer, you should choose one that is marketed for gaming.
Gaming computers are often much faster than normal home computers and they have many different upgrades that will help you take your trading to a new level. The computer you decide to go with should have a solid state hard drive which will run a lot faster without overheating.
Additionally, you need a lot of RAM, and most gaming computers come with at least 16 GB of RAM and some even come with 32 GB of RAM which is ideal for trading.
Depending on your own personal needs, you may choose to purchase a desktop computer that will be stationary or a laptop which is mobile. If you tend to work and trade at different locations around the house or around town, a laptop is going to be your best bet.
The next thing you will need for your trade station setup is a few good monitors. Depending on the type of computer you have chosen will determine which kind of monitors you choose.
For instance, if you are a mobile trader with a laptop, two USB monitors would work perfectly for you. They are simple to setup; all you have to do is plug them into you laptop and they’re easy to store when not in use.
When shopping for USB monitors, make sure that you purchase ones with 1080p resolution and a screen size of at least 13 inches. On the other hand, if you have a desktop, you probably are going to want to purchase a pair of traditional flat panel 1080p monitors.
Now that you have your computer and monitors setup, you will need to have access to the internet. While it is recommended that you have a hard wire connection for trading, many people choose to trade via WiFi.
So if you don’t have access to an Ethernet cable and you are trading on the go, you can always use a trusted and secure WiFi connection. Sometimes you may be at a location that doesn’t have the best WiFi. When this happens, you can always use your phone as a mobile hotspot.
To turn your phone into a hotspot, simply go into your phone setting tab. Once there you will notice several options including one that says personal hotspot. Click on this option and select on. You will then be promted to select a password for your protection. Once you have completed these tasks, your computer will automatically find your hotspot which will allow you to get online.
Laying out your trade station for optimum use is the last step in the process. On your main screen of your computer, you will want to display your broker. This will give you easy access to trades and allow you to make quick decision by having your broker in the central location. The two side monitors to the left and right of your computer will be used to display charts.
Each side monitors can be used to view two different stocks at any given time. This layout is the most commonly used. However, some choose a different route. The way you layout your monitors is completely up to your own personal trading style.
As you can see, this is a very simple setup that works well. So if you are looking to build a trade station that is highly functional and easy to use, we suggest that you use the mobile example above.
While desktop setups are pretty neat, they can limit your ability to move around. But no matter which route you take, make sure that you invest in a high-quality gaming computer that has all the upgrades you need for a successful trading day.