If you’re going to be an online trader, one aspect of your work you simply can’t neglect is your setup. You simply won’t be able to make an effective and consistent profit if you’re not working on an up-to-date set of tech. We’ve seen many people neglect this part of the job, and they always end up lagging behind the more successful traders. Tech has forever transformed the stock market, and there’s no going back now.
If you’re worried about being left behind, never fear – we’re here for you. Through a combination of the best tech and trading savvy, you’ll be able to turn a profit as an online trader easily. This will require significant investment; nobody ever managed to make money without spending some first, after all. You’ll thank yourself later on down the line when you’ve got the perfect tech setup for online trading; here’s how to achieve it.
When you’re trading, your computer will need to access websites like marketbusinessnews so you can grab quick, up-to-the-minute trading information and share prices. With that in mind, anything other than a high-speed internet connection is not acceptable. You’ll want high download and upload speeds so you can keep up with the rapidly-changing markets. Your PC probably has an Ethernet socket, so it’s best to connect to the internet with a wired connection rather than via Wi-Fi.
We don’t recommend you use a laptop for day trading. Most desktop PCs are much faster and more capable than laptops, and a trading PC needs to perform a lot of processor-intensive functions at a rapid speed. Your desktop PC should be at least quad-core and have at least 8GB of RAM (we’d recommend 16). RAM is important for multi-tasking, and trading is dependent on this function as you’ll be accessing a lot of info and graphs in succession. You’ll also want a decent graphics card so your PC can keep up with the visual information being presented.
At the very least, we think you should have two monitors for your trading setup. You’ll need to keep track of a lot of information concurrently, and you don’t want to be switching between windows constantly. A dual monitor setup is probably ideal for any kind of task when you’re working on a desktop PC, let alone for trading. Some sing the praises of three monitors, but this might be a tad excessive. By any means, if you’ve got the space, go for it, but dual monitors are a basic requirement at the very least.
A fast smartphone
These days, it’s harder to come by a slow smartphone than a fast one, especially if you’re out of the budget range. Trust us when we say that even though a budget smartphone might seem enticing, you’ll regret your decision when you need it to perform a task more complex than basic internet browsing or media consumption. Opt for one of the major brands and make sure you’re going for at least a mid-range phone if you want to be a trader. You’ll thank yourself when you’re zipping through trades rather than waiting for your phone to load content.
While you may not actually need a tablet, it can be a nice alternative to your phone if it’s charging or the battery is dead. The tablet market in 2019 is not particularly overpopulated; you’re looking at major brands like Google, Samsung, and Apple for your tablet choices, and not many low- or mid-budget options exist. That said, you don’t want to skimp on quality when you’re buying a tablet, so perhaps this is for the best. You don’t strictly need a tablet, but it’s advantageous for you if you’re looking to work on multiple devices.
You might not think it’s an important consideration, but it’s absolutely crucial to make sure you keep yourself entertained while trading. The silence as you tap your keyboard and scroll your mouse wheel can sometimes be a bit oppressive, so a subscription to a music service like Spotify or TIDAL can keep you sane during these moments. If you’re capable of multi-tasking, you might want to look into a podcast app for your phone as well; there are several excellent options available in this field. Netflix is also an option, although you don’t want to distract yourself too much.
While you’re trading, you’ll need to keep yourself healthy, well-fed, and hydrated. There’s nothing that can perform all of those functions quite as well as a smoothie maker. The best option we’ve found on the market is the NutriBullet, which effortlessly mixes ingredients together and creates the perfect smoothie based on exacting specifications. It’s also worth checking out a coffee maker to keep you awake during the difficult moments, as well as a grill to make you healthy meals when you’re hungry.
The perfect chair
Okay, so you’ve got your tech setup ready to go. There’s only one problem – you haven’t thought about where you’re actually going to sit. Getting yourself an ergonomic office chair is incredibly important; you’re going to be spending a lot of time in this chair, so it needs to be comfortable and practical. A chair with high back support is essential, and it needs to be cushioned so you don’t feel awkward or uncomfortable as you work. Lots of people neglect their chairs and end up regretting it when they can’t work for extended periods. Don’t let that be you.