Equipment needed to begin day trading

In today's world, access to trading has never been easier; most people can make trades efficiently, and quickly from their phones. This leads many people wondering; what is the necessary equipment to trade effectively? Is your cell phone enough? When you are trying to find the right equipment to day-trade, there are three important questions to ask yourself:

  • Will you be on the go or working for the majority of the trading day?
  • Do you have the time and space to sit down on a computer to trade in a stationary setting?
  • Will you be working at home, or in an office, or will you be traveling and on the go?

With this in mind, what are a few important recommendations you should follow?

A Computer vs. A Mobile Device

A computer is always going to be superior for trading over a mobile device. However, many members of our team are still profitably trading from their phones. Let’s take a more indepth look at times where mobile devices are more relevant than a computer.

With a mobile device you’ll have access to multiple trading platforms in your App Store that allow you all the benefits of investing your money, even with a busy work schedule or on the go lifestyle. It allows you to easily monitor and keep an eye on your trades throughout the day, regardless if you're out getting groceries or just around the house you’ll always have the confidence your trades are just a tap away. With this level of accessibility having a trading set up on your mobile device is easily the fastest way you can start your trading journey. 

Now with all the accessibility and ease of mobile trading an stationary set up such as a laptop or desktop has a large benefit compared to trading off a cell phone. On a platform comparison from mobile to desktop, nearly all desktop platforms operate at a much higher level, giving you access to more information and necessary tools. Having a larger monitor gives you the ability to chart cluster free, and easily find key indicators helping you make faster and better judgements on your trades. 

While the majority of full time traders prefer having more screens to monitor information pouring in during a trading day, ultimately having at least one screen and a mobile device handy is more than efficient to start. 

The Specs of Your Desktop Computer or laptop

Taking a closer look at the specs of your computer. You want a computer to be able to handle trading, while operating as fast as possible. If you plan to use this desktop or laptop for more than just trading, then be sure to look into even more robust specs than listed below.

  • 16gb Ram
  • 1T SSD
  • Newer GPU (2020) with at least 4GB of VRAM. Keep in mind if you are planning to use multiple monitors to check how many HDMI, or Display ports it has. 
  • Intel i5 processor or AMD equivalent or better 

Recommendations on Monitors

When you are looking for monitors, the most important thing you have to keep in mind is the resolution. The resolution is going to determine the quality and the clarity of the images you are looking at. You want your monitor to display crisp images so you can process information as quickly as your computer. At a minimum, you should have 2 monitors that feature a resolution of 1080p. 

Furthermore, it's important to note the amount of available outputs you have when determining the number of monitors. Some PCs will allow for several monitors, while older computers might only support a single monitor.

Trade with our community free for 7 days

Start with our Silver Membership and join the Prosperity Trades community today with our daily trading live stream, community live chat, buying alerts, live scanners, and so much more.

Related Articles

Responses

Your email address will not be published.