SlideShare a Scribd company logo
Website: https://www.mytradingskills.com/
Email: support@mytradingskills.com
Phone: +44 (0)1428 738305
Day Trading Setup
Published: 11/09/2018
By: Phillip Konchar
LIFESTYLE
If you are a day trader, you will know that plenty of money can be spent on making sure that
your home office environment is up to the task. This is because day trading as a discipline and
as a career requires a lot of equipment. You can, of course, manage to make some progress on
day trading as a career with the bare minimum of equipment.
However, if you’re wanting to make a profitable and useful career out of day trading, in that it
brings you income, you will need to invest in certain items of equipment.
Ready to get started?
The computer
This is the hub of your day trading work, and for obvious reasons it needs to be up to the job.
However, it’s important to remember that day trading is quite manageable by most mid-level
computing setups. We do recommend that you invest in a desktop computer, because the power
and the speed of these machines will ensure that you are not caught out by any lags in time.
With a strong laptop, time lags are not necessarily going to happen, but when trading is thick
and fast, you will need to rely upon the computer ‘seeing’ data that can change from second to
second.
Multiple trading also throws up a few issues as well. A day trader, especially one that is expe-
rienced or growing in experience, will at many points during the day be running multiple trades.
It is vitally important that you have a computer set up that can manage multiple trades. And
this is where budget and personal choice come into it.
We would recommend investing the greatest portion of your money in two things, the PC unit
itself and the monitor or monitors.
We will get to monitors in a moment, but investing wisely in a good computer set up means
that you should have a processor that will not let you down when multiple trades are occurring.
At the very top end of this particular area you can expect to spend thousands on a good com-
puter.
Some traders even request bespoke trading computers and there are specialist companies that
do this. This doesn’t have to be you. But you should still start out with the end goal in mind,
and this is buying a PC unit that is able to handle trading at multiple levels every minute, and
also one that is able to handle running a number of monitors.
Our expert says…
Choose a computer with a fast processor. Because you’re going to have an absolute bucket-
load of data flying back and forth every second, speed is your best friend.
When choosing a computer for your day trading setup, it’s all about a fast processor. When
viewing your data on the screen, if it isn’t real-time, you’re going to miss something at some
point. A fast processor gives you the edge.
Whatever hardware you buy, check out the CPU benchmark score for it. This will give you a
clear idea of how the processor inside the box performs speed-wise.
Most traders should be looking at a benchmark score of around 8,000-10,000 Ghz if they want
to be active and trading at speed.
Install an SSD hard drive
Using a solid state drive sets you up for a faster experience. Most people new to trading or
computing in general think a hard drive is all about storage space. But it isn’t.
A high quality hard drive means a better trading day. Solid state drives give you a faster boot
up time, for one thing. They last longer than the standard HDD, and they keep the system cooler
through using less power. The best SSDs for read speeds clock in at 3,500 MB/s. And when it
comes to writing, the tip-end SSD units come in at around 2,700 MB/s.
RAM
People underestimate the importance of RAM. However, the smooth functioning of your com-
puter system depends on having an optimal amount of the stuff. Upgrading the amount of RAM
your computer has doesn’t cost a lot either. It boosts your speed and performance because it
allows multiple apps to be open, as well as a number of tasks to run at the same time. And
that’s pretty much what a day trader needs.
If we’re talking real monsters though, you may want to look at the Corsair range. Alway wells
known for for their computing aspects, the latest models have around 3,466 as regards pro-
cessing speed. And with capacity, you can’t go wrong with 16 GB.
Spend money on RAM as soon as you can. If you can give your computer a RAM boost, you’re
looking at a smoother and less frustrating trading day.
Related Reading:
 REVEALED: Can You Trade Forex Part Time?
 CHECKLIST: Get Started Working for Yourself
 FIND OUT: Best Laptops You Can Use for Day Trading
Monitors
This is the other big area of expense. Monitors are not necessarily expensive, but you will still
need to find one that has good screen resolution. This is because the better the screen resolution,
the more you will see on the screen. With so much data flying back and forth, you will need
the full picture at all times.
Top tip: The general rule is a resolution of 1920 x 1080 px for day trading. This will help
minimise the impact of staring at a screen for hours on end. It’s an important consideration
because that is what you will be doing.
This resolution should also remove the possibility of ‘backlight bleeding’, where the screen
shows lighter areas on a black background. Apart from being annoying, you need absolute
clarity to make the best calls.
At the same time, it’s important to have more than one monitor, especially when you start to
make progress and build out a career in daytrading. With you having to keep an eye on plenty
of different markets, and needing the ability to look at 2 to 3 different monitors at the same
time, it makes more sense to have a full picture of your positions with multiple screens.
Basically, it all comes down to making sure you can see all financial markets on different
timeframes all at once. This can only happen when you have a number of high quality, high
resolution monitors working at the same time. If this is beyond your budget, you need to think
about purchasing at least a couple so that you can move quickly when numbers change.
Top tip: The ‘refresh rate’ of a monitor makes a huge difference when those numbers change.
This is an area where you can end up spending a lot of money because some monitors offer a
staggering refresh rate. It’s exciting, and it looks good. For a trader who wants to see each
change as it happens in milliseconds, it initially seems important to buy a monitor that has the
best refresh rate around.
However, for a day trader it is perfectly acceptable to buy a monitor that has a refresh rate of
120 frames per second. This means buying a monitor that has 120 Hz. This will easily keep
you on top of sudden changes, and make sure that you don’t miss anything important.
Find Out: Best Smartphones for Day Trading in 2018 and 2019
The stand
This is where a lot of the hard work in planning comes in. A good stand can help with your
posture, as well as your general overall physical health. It can also help with decluttering your
desk. So it’s worth investing.
Do’s and don’ts when purchasing a stand
Don’t skimp on a stand
Some of the basic stuff that a modern stand comes with is really important. A good stand should
be able to offer you an option to tilt monitors for comfort. You can even reasonably expect a
clamp mechanism so that the monitors can be raised up a little above the desk, so you have
desk space freed up. There are plenty of options here and it’s important that you don’t go for a
stand simply because it’s inexpensive.
Do purchase a good stand
The best monitor stands come with a number of mounts that have pre-drilled holes so that you
can mount a number of screens easily. Even if you’re starting out with a couple of monitors,
it’s worth buying one of these because they allow scope for adding more. It makes perfect sense
in the long run to be able to add more as your career grows.
Viotek Articulating Hex 6-Monitor Stand
This stand is typical of the multiple mount option that allows for expansion as you grow as a
trader.
Don’t buy the wrong mount set-up
Know why you should choose ‘wall’ or ‘through the desk’ mounting. If you’re looking at a
selection of stands online, you’ll soon see that you have an option of having a wall-mounted
stand or a ‘through the desk’ mounted stand. There are a ton of issues around this, and it’s
important to know the difference between the two.
If you’re looking to maximise space, the wall-mounted option makes perfect sense. It’s im-
portant to remember that you will need to screw holes in the wall here. This may seem a little
obvious, but can be disruptive.
If it’s your wall and you’re able to do this, perfect. If you’re renting a flat, you may want to
talk to your landlord first. A through the desk option allows you to keep things focused on the
desk and not to cause disruption to the walls and the room. It’s something worth considering if
you’re worried about your impact on the room around you.
A good chair
Some people do like to stand up for at least part of their day, but having a good chair to use as
part of your trading setup makes a huge difference to the outcomes you’ll enjoy.
Studies have shown that sitting in a chair for too long can bring about serious health problems.
It has even been linked to mortality. If you plan to sit in a chair for prolonged periods of time
it’s vital that you have a good chair to use. The very best on the market can be incredibly
expensive. But there are a couple of factors that most good chairs can provide.
Basically, as opposed to the standard office chair, find one that:
1. Has a full back. This will give your back the maximum support, and make it a lot easier to
prevent serious back problems over time. The best office chairs in this area have backs that
match the shape of your spine.
2. Allows your key joints to be at 90 degree angles. Basically, staying with your hips, and
then moving onto your knees and your ankles, you should be looking at a 90 degree angle
for each of the joints. If this isn’t the case, you’re either too tall or too short to use that
chair.
3. Is 100% adjustable. We’ve all used office chairs that allow for vertical adjustment, but
that isn’t enough. If you can find one that allows you to adjust the seat from side to side,
you’re winning when it comes to protecting and promoting good posture.
4. Allows you to take care of the arms and the shoulders too. It should feel natural when
you place your arms on the arm rests. If at any point you feel you’re making an extra effort
to raise up your shoulders etc. it’s probably quite likely that you are looking at a chair that
isn’t supportive enough.
Desk
This is a wide open field, and there are some fantastic desks out there. If you’re going to be
trading seriously, you should be looking for a desk that has the strength to handle a lot of weight
(because of the monitors). This means you could well be spending some serious money on a
desk.
However, it’s important to just focus on getting a quality desk that has some ability to take
heavy weight. If your budget isn’t huge right now, just opt for a standard wooden desk, the
heavier the better. You can even get this from second-hand shops.
We thought we’d also point out that it’d be nice to have a stand-up desk as part of your line-
up. These are great because they encourage you to stand up and move around. They also help
posture because of their head-height approach. But they’re not essential.
And last but not least…the mouse
It’s last, but it’s definitely not in last place. Some day traders would argue that the mouse is
easily as important as the chair, or the monitor. And in some ways it is.
How?
Well, when you’re in the thick of a series of trades in a small time frame, the very last thing
you want is a lack of focus with your onscreen decisions. Owning a mouse that is responsive
and allows for a quick and accurate click could really help to make your trading career more
successful.
Think about it. Missing a shift in price by a penny can have huge implications when you’re
trading. So your mouse needs to be up to the job.
One of the biggest considerations is the weight of the mouse. It’s generally best to go for a light
mouse, so that you can move quickly across a screen.
Then, you’re looking for a mouse that just feels responsive as you’re moving it across a screen.
It’s all about fast and responsive movement, so that you get the most accuracy.
And just in case you need stress relief…
We all find trading stressful at some times. These little gadgets should help you relax, breathe,
and stay focused.
A stress ball
This is one little tool that we think is indispensable. Squeezing the life out of a stress ball (or
any other stress ball type toy) is a great way to reduce the pressure that a day of trading can
bring. Not that you should have any, read our article on handling emotions while trading.
Scalp massager
This is well worth buying if you want to just breathe and relax a little. It’s soothing, and it takes
your mind off whatever it is you’re worrying about.
Adult colouring book
These became popular a couple of years ago. There are hundreds around, and they are genu-
inely distracting, allowing you to pull out of the ‘trading head’ for a few minutes.
When all is said and done, your key items are the computer, monitor and chair. Everything else
just needs a little careful consideration and some thought about how you want your experience
to be.
Get your emotions in check …
 What is Revenge Trading? (And How To Avoid It)
 Trading Psychology: How To Control Emotions While Trading
 Why FOMO Can Obliterate Your Trading Profits
Website: https://www.mytradingskills.com/
Email: support@mytradingskills.com
Phone: +44 (0)1428 738305

More Related Content

Similar to This is What a Day Trader Setup Looks Like

Point of sale software
Point of sale softwarePoint of sale software
Point of sale software
Onestopaccounting
 
Proposal for hotel management system and web development
Proposal for hotel management system and web developmentProposal for hotel management system and web development
Proposal for hotel management system and web development
Mohammad Sayem
 
10 points to consider while choosing a BPM Software
10 points to consider while choosing a BPM Software10 points to consider while choosing a BPM Software
10 points to consider while choosing a BPM Software
Sivaram Subramaniam
 
Top 4 things to consider before buying a Laptop.pptx
Top 4 things to consider before buying a Laptop.pptxTop 4 things to consider before buying a Laptop.pptx
Top 4 things to consider before buying a Laptop.pptx
Ask The Best
 
Top 4 things to consider before buying a Laptop.pptx
Top 4 things to consider before buying a Laptop.pptxTop 4 things to consider before buying a Laptop.pptx
Top 4 things to consider before buying a Laptop.pptx
Ask The Best
 
Enterprise
EnterpriseEnterprise
Enterprise
MikeySymons23
 
Proposal for pos
Proposal for posProposal for pos
Proposal for pos
Mohammad Sayem
 
Proposal for pos
Proposal for posProposal for pos
Proposal for pos
Mohammad Sayem
 
Sbp integrate smartsheet with appsheet
Sbp integrate smartsheet with appsheetSbp integrate smartsheet with appsheet
Sbp integrate smartsheet with appsheet
Gwen Rymill
 
SBP Integrate Smartsheet with Appsheet
SBP Integrate Smartsheet with AppsheetSBP Integrate Smartsheet with Appsheet
SBP Integrate Smartsheet with Appsheet
Gwen Rymill
 
Top 10 Dirty Secrets in Direct to Garment Printing
Top 10 Dirty Secrets in Direct to Garment PrintingTop 10 Dirty Secrets in Direct to Garment Printing
Top 10 Dirty Secrets in Direct to Garment Printing
OmniPrint International
 
Enterprise
EnterpriseEnterprise
Enterprise
MikeySymons23
 
Introduction to Digital Signage
Introduction to Digital SignageIntroduction to Digital Signage
Introduction to Digital Signage
Bitvu
 
How To Choose The Perfect Digital Camera For You
How To Choose The Perfect Digital Camera For You How To Choose The Perfect Digital Camera For You
How To Choose The Perfect Digital Camera For You
gustyaffection876
 
Complete guide on how to start hat business (1)
Complete guide on how to start hat business (1)Complete guide on how to start hat business (1)
Complete guide on how to start hat business (1)
PrintXpand
 
Power Of An Hour
Power Of An HourPower Of An Hour
Power Of An Hour
Robert Crane
 
How To Choose The Right It Support Business
How To Choose The Right It Support BusinessHow To Choose The Right It Support Business
How To Choose The Right It Support Business
aromaticnylons862
 
QUICK START GUIDE TO EASY ONLINE PROFITS !!
QUICK START GUIDE TO EASY ONLINE PROFITS !!QUICK START GUIDE TO EASY ONLINE PROFITS !!
QUICK START GUIDE TO EASY ONLINE PROFITS !!
SahilSingh470
 
Technology Update: The More Things Change, the More Fun It Gets
Technology Update: The More Things Change, the More Fun It GetsTechnology Update: The More Things Change, the More Fun It Gets
Technology Update: The More Things Change, the More Fun It Gets
Michael Carnell
 
55 business ideas
55 business ideas55 business ideas
55 business ideas
Aladesuru Walter Adewale
 

Similar to This is What a Day Trader Setup Looks Like (20)

Point of sale software
Point of sale softwarePoint of sale software
Point of sale software
 
Proposal for hotel management system and web development
Proposal for hotel management system and web developmentProposal for hotel management system and web development
Proposal for hotel management system and web development
 
10 points to consider while choosing a BPM Software
10 points to consider while choosing a BPM Software10 points to consider while choosing a BPM Software
10 points to consider while choosing a BPM Software
 
Top 4 things to consider before buying a Laptop.pptx
Top 4 things to consider before buying a Laptop.pptxTop 4 things to consider before buying a Laptop.pptx
Top 4 things to consider before buying a Laptop.pptx
 
Top 4 things to consider before buying a Laptop.pptx
Top 4 things to consider before buying a Laptop.pptxTop 4 things to consider before buying a Laptop.pptx
Top 4 things to consider before buying a Laptop.pptx
 
Enterprise
EnterpriseEnterprise
Enterprise
 
Proposal for pos
Proposal for posProposal for pos
Proposal for pos
 
Proposal for pos
Proposal for posProposal for pos
Proposal for pos
 
Sbp integrate smartsheet with appsheet
Sbp integrate smartsheet with appsheetSbp integrate smartsheet with appsheet
Sbp integrate smartsheet with appsheet
 
SBP Integrate Smartsheet with Appsheet
SBP Integrate Smartsheet with AppsheetSBP Integrate Smartsheet with Appsheet
SBP Integrate Smartsheet with Appsheet
 
Top 10 Dirty Secrets in Direct to Garment Printing
Top 10 Dirty Secrets in Direct to Garment PrintingTop 10 Dirty Secrets in Direct to Garment Printing
Top 10 Dirty Secrets in Direct to Garment Printing
 
Enterprise
EnterpriseEnterprise
Enterprise
 
Introduction to Digital Signage
Introduction to Digital SignageIntroduction to Digital Signage
Introduction to Digital Signage
 
How To Choose The Perfect Digital Camera For You
How To Choose The Perfect Digital Camera For You How To Choose The Perfect Digital Camera For You
How To Choose The Perfect Digital Camera For You
 
Complete guide on how to start hat business (1)
Complete guide on how to start hat business (1)Complete guide on how to start hat business (1)
Complete guide on how to start hat business (1)
 
Power Of An Hour
Power Of An HourPower Of An Hour
Power Of An Hour
 
How To Choose The Right It Support Business
How To Choose The Right It Support BusinessHow To Choose The Right It Support Business
How To Choose The Right It Support Business
 
QUICK START GUIDE TO EASY ONLINE PROFITS !!
QUICK START GUIDE TO EASY ONLINE PROFITS !!QUICK START GUIDE TO EASY ONLINE PROFITS !!
QUICK START GUIDE TO EASY ONLINE PROFITS !!
 
Technology Update: The More Things Change, the More Fun It Gets
Technology Update: The More Things Change, the More Fun It GetsTechnology Update: The More Things Change, the More Fun It Gets
Technology Update: The More Things Change, the More Fun It Gets
 
55 business ideas
55 business ideas55 business ideas
55 business ideas
 

More from  My Trading Skills

Why FOMO can obliterate your trading profits
Why FOMO can obliterate your trading profitsWhy FOMO can obliterate your trading profits
Why FOMO can obliterate your trading profits
 My Trading Skills
 
Tips to Improve your Trading Mindset
Tips to Improve your Trading MindsetTips to Improve your Trading Mindset
Tips to Improve your Trading Mindset
 My Trading Skills
 
How to Identify and Draw Support and Resistance Levels on Any Chart
How to Identify and Draw Support and Resistance Levels on Any ChartHow to Identify and Draw Support and Resistance Levels on Any Chart
How to Identify and Draw Support and Resistance Levels on Any Chart
 My Trading Skills
 
How to Become a Professional Trader
How to Become a Professional TraderHow to Become a Professional Trader
How to Become a Professional Trader
 My Trading Skills
 
Situations When you Shouldn't Trade Forex
Situations When you Shouldn't Trade ForexSituations When you Shouldn't Trade Forex
Situations When you Shouldn't Trade Forex
 My Trading Skills
 
What are Key Chart Levels and How to Trade Them
What are Key Chart Levels and How to Trade ThemWhat are Key Chart Levels and How to Trade Them
What are Key Chart Levels and How to Trade Them
 My Trading Skills
 
Top 5 Economic Indicators in the Forex Market
Top 5 Economic Indicators in the Forex MarketTop 5 Economic Indicators in the Forex Market
Top 5 Economic Indicators in the Forex Market
 My Trading Skills
 
Why Day Trading Doesn't Work
Why Day Trading Doesn't WorkWhy Day Trading Doesn't Work
Why Day Trading Doesn't Work
 My Trading Skills
 

More from  My Trading Skills (8)

Why FOMO can obliterate your trading profits
Why FOMO can obliterate your trading profitsWhy FOMO can obliterate your trading profits
Why FOMO can obliterate your trading profits
 
Tips to Improve your Trading Mindset
Tips to Improve your Trading MindsetTips to Improve your Trading Mindset
Tips to Improve your Trading Mindset
 
How to Identify and Draw Support and Resistance Levels on Any Chart
How to Identify and Draw Support and Resistance Levels on Any ChartHow to Identify and Draw Support and Resistance Levels on Any Chart
How to Identify and Draw Support and Resistance Levels on Any Chart
 
How to Become a Professional Trader
How to Become a Professional TraderHow to Become a Professional Trader
How to Become a Professional Trader
 
Situations When you Shouldn't Trade Forex
Situations When you Shouldn't Trade ForexSituations When you Shouldn't Trade Forex
Situations When you Shouldn't Trade Forex
 
What are Key Chart Levels and How to Trade Them
What are Key Chart Levels and How to Trade ThemWhat are Key Chart Levels and How to Trade Them
What are Key Chart Levels and How to Trade Them
 
Top 5 Economic Indicators in the Forex Market
Top 5 Economic Indicators in the Forex MarketTop 5 Economic Indicators in the Forex Market
Top 5 Economic Indicators in the Forex Market
 
Why Day Trading Doesn't Work
Why Day Trading Doesn't WorkWhy Day Trading Doesn't Work
Why Day Trading Doesn't Work
 

Recently uploaded

how do I sell my hamster coins on OKX exchange.
how do I sell my hamster coins on OKX exchange.how do I sell my hamster coins on OKX exchange.
how do I sell my hamster coins on OKX exchange.
CRYPTO SPACE 🪙
 
how much can I sell my Hamster Kombat coins.
how much can I sell my Hamster Kombat coins.how much can I sell my Hamster Kombat coins.
how much can I sell my Hamster Kombat coins.
CRYPTO SPACE 🪙
 
Is it possible to sell hamster kombat tokens?
Is it possible to sell hamster kombat tokens?Is it possible to sell hamster kombat tokens?
Is it possible to sell hamster kombat tokens?
CRYPTO SPACE 🪙
 
is hamster kombat still worth mining (HMSTER - update)
is hamster kombat still worth mining (HMSTER - update)is hamster kombat still worth mining (HMSTER - update)
is hamster kombat still worth mining (HMSTER - update)
CRYPTO SPACE 🪙
 
What website can I sell my hamster kombat tokens.
What website can I sell my hamster kombat tokens.What website can I sell my hamster kombat tokens.
What website can I sell my hamster kombat tokens.
CRYPTO SPACE 🪙
 
Briefing paper on Pension SuperHaven 200520 (3).pdf
Briefing paper on Pension SuperHaven 200520 (3).pdfBriefing paper on Pension SuperHaven 200520 (3).pdf
Briefing paper on Pension SuperHaven 200520 (3).pdf
Henry Tapper
 
Monthly Market Risk Update: July 2024 [SlideShare]
Monthly Market Risk Update: July 2024 [SlideShare]Monthly Market Risk Update: July 2024 [SlideShare]
Monthly Market Risk Update: July 2024 [SlideShare]
Commonwealth
 
How can I withdraw my hamster tokens to real money in India.
How can I withdraw my hamster tokens to real money in India.How can I withdraw my hamster tokens to real money in India.
How can I withdraw my hamster tokens to real money in India.
CRYPTO SPACE 🪙
 
how to sell hamster kombat tokens any where in the world?
how to sell hamster kombat tokens any where in the world?how to sell hamster kombat tokens any where in the world?
how to sell hamster kombat tokens any where in the world?
CRYPTO SPACE 🪙
 
What is the Secret way of selling hamster kombat tokens online?
What is the Secret way of selling hamster kombat tokens online?What is the Secret way of selling hamster kombat tokens online?
What is the Secret way of selling hamster kombat tokens online?
CRYPTO SPACE 🪙
 
how to sell Tapswap token's at high rate - $1 per token
how to sell Tapswap token's at high rate - $1 per tokenhow to sell Tapswap token's at high rate - $1 per token
how to sell Tapswap token's at high rate - $1 per token
CRYPTO SPACE 🪙
 
Economic Risk Factor Update: July 2024 [SlideShare]
Economic Risk Factor Update: July 2024 [SlideShare]Economic Risk Factor Update: July 2024 [SlideShare]
Economic Risk Factor Update: July 2024 [SlideShare]
Commonwealth
 
3. Elemental Economics - Supply and Costs.pdf
3. Elemental Economics - Supply and Costs.pdf3. Elemental Economics - Supply and Costs.pdf
3. Elemental Economics - Supply and Costs.pdf
Neal Brewster
 
hamster kombat - The best way to gain Massively as beginner's.
hamster kombat - The best way to gain Massively as beginner's.hamster kombat - The best way to gain Massively as beginner's.
hamster kombat - The best way to gain Massively as beginner's.
CRYPTO SPACE 🪙
 
how to sell hamster kombat on bybit crypto exchange.
how to sell hamster kombat on bybit crypto exchange.how to sell hamster kombat on bybit crypto exchange.
how to sell hamster kombat on bybit crypto exchange.
CRYPTO SPACE 🪙
 
Tapswap - A simple and effective way to withdraw mined tokens
Tapswap - A simple and effective way to withdraw mined tokensTapswap - A simple and effective way to withdraw mined tokens
Tapswap - A simple and effective way to withdraw mined tokens
CRYPTO SPACE 🪙
 
how can I successfully sell my tapswap currency?
how can I successfully sell my tapswap currency?how can I successfully sell my tapswap currency?
how can I successfully sell my tapswap currency?
CRYPTO SPACE 🪙
 
how do I sell hamster kombat at exchange price!
how do I sell hamster kombat at exchange price!how do I sell hamster kombat at exchange price!
how do I sell hamster kombat at exchange price!
CRYPTO SPACE 🪙
 
How can I sell my Hamster Kombat account?
How can I sell my Hamster Kombat account?How can I sell my Hamster Kombat account?
How can I sell my Hamster Kombat account?
CRYPTO SPACE 🪙
 
Domestic investment in pension schemes - a good thing?
Domestic investment in pension schemes - a good thing?Domestic investment in pension schemes - a good thing?
Domestic investment in pension schemes - a good thing?
Henry Tapper
 

Recently uploaded (20)

how do I sell my hamster coins on OKX exchange.
how do I sell my hamster coins on OKX exchange.how do I sell my hamster coins on OKX exchange.
how do I sell my hamster coins on OKX exchange.
 
how much can I sell my Hamster Kombat coins.
how much can I sell my Hamster Kombat coins.how much can I sell my Hamster Kombat coins.
how much can I sell my Hamster Kombat coins.
 
Is it possible to sell hamster kombat tokens?
Is it possible to sell hamster kombat tokens?Is it possible to sell hamster kombat tokens?
Is it possible to sell hamster kombat tokens?
 
is hamster kombat still worth mining (HMSTER - update)
is hamster kombat still worth mining (HMSTER - update)is hamster kombat still worth mining (HMSTER - update)
is hamster kombat still worth mining (HMSTER - update)
 
What website can I sell my hamster kombat tokens.
What website can I sell my hamster kombat tokens.What website can I sell my hamster kombat tokens.
What website can I sell my hamster kombat tokens.
 
Briefing paper on Pension SuperHaven 200520 (3).pdf
Briefing paper on Pension SuperHaven 200520 (3).pdfBriefing paper on Pension SuperHaven 200520 (3).pdf
Briefing paper on Pension SuperHaven 200520 (3).pdf
 
Monthly Market Risk Update: July 2024 [SlideShare]
Monthly Market Risk Update: July 2024 [SlideShare]Monthly Market Risk Update: July 2024 [SlideShare]
Monthly Market Risk Update: July 2024 [SlideShare]
 
How can I withdraw my hamster tokens to real money in India.
How can I withdraw my hamster tokens to real money in India.How can I withdraw my hamster tokens to real money in India.
How can I withdraw my hamster tokens to real money in India.
 
how to sell hamster kombat tokens any where in the world?
how to sell hamster kombat tokens any where in the world?how to sell hamster kombat tokens any where in the world?
how to sell hamster kombat tokens any where in the world?
 
What is the Secret way of selling hamster kombat tokens online?
What is the Secret way of selling hamster kombat tokens online?What is the Secret way of selling hamster kombat tokens online?
What is the Secret way of selling hamster kombat tokens online?
 
how to sell Tapswap token's at high rate - $1 per token
how to sell Tapswap token's at high rate - $1 per tokenhow to sell Tapswap token's at high rate - $1 per token
how to sell Tapswap token's at high rate - $1 per token
 
Economic Risk Factor Update: July 2024 [SlideShare]
Economic Risk Factor Update: July 2024 [SlideShare]Economic Risk Factor Update: July 2024 [SlideShare]
Economic Risk Factor Update: July 2024 [SlideShare]
 
3. Elemental Economics - Supply and Costs.pdf
3. Elemental Economics - Supply and Costs.pdf3. Elemental Economics - Supply and Costs.pdf
3. Elemental Economics - Supply and Costs.pdf
 
hamster kombat - The best way to gain Massively as beginner's.
hamster kombat - The best way to gain Massively as beginner's.hamster kombat - The best way to gain Massively as beginner's.
hamster kombat - The best way to gain Massively as beginner's.
 
how to sell hamster kombat on bybit crypto exchange.
how to sell hamster kombat on bybit crypto exchange.how to sell hamster kombat on bybit crypto exchange.
how to sell hamster kombat on bybit crypto exchange.
 
Tapswap - A simple and effective way to withdraw mined tokens
Tapswap - A simple and effective way to withdraw mined tokensTapswap - A simple and effective way to withdraw mined tokens
Tapswap - A simple and effective way to withdraw mined tokens
 
how can I successfully sell my tapswap currency?
how can I successfully sell my tapswap currency?how can I successfully sell my tapswap currency?
how can I successfully sell my tapswap currency?
 
how do I sell hamster kombat at exchange price!
how do I sell hamster kombat at exchange price!how do I sell hamster kombat at exchange price!
how do I sell hamster kombat at exchange price!
 
How can I sell my Hamster Kombat account?
How can I sell my Hamster Kombat account?How can I sell my Hamster Kombat account?
How can I sell my Hamster Kombat account?
 
Domestic investment in pension schemes - a good thing?
Domestic investment in pension schemes - a good thing?Domestic investment in pension schemes - a good thing?
Domestic investment in pension schemes - a good thing?
 

This is What a Day Trader Setup Looks Like

  • 1. Website: https://www.mytradingskills.com/ Email: support@mytradingskills.com Phone: +44 (0)1428 738305 Day Trading Setup Published: 11/09/2018 By: Phillip Konchar LIFESTYLE If you are a day trader, you will know that plenty of money can be spent on making sure that your home office environment is up to the task. This is because day trading as a discipline and as a career requires a lot of equipment. You can, of course, manage to make some progress on day trading as a career with the bare minimum of equipment. However, if you’re wanting to make a profitable and useful career out of day trading, in that it brings you income, you will need to invest in certain items of equipment. Ready to get started? The computer This is the hub of your day trading work, and for obvious reasons it needs to be up to the job. However, it’s important to remember that day trading is quite manageable by most mid-level computing setups. We do recommend that you invest in a desktop computer, because the power and the speed of these machines will ensure that you are not caught out by any lags in time. With a strong laptop, time lags are not necessarily going to happen, but when trading is thick
  • 2. and fast, you will need to rely upon the computer ‘seeing’ data that can change from second to second. Multiple trading also throws up a few issues as well. A day trader, especially one that is expe- rienced or growing in experience, will at many points during the day be running multiple trades. It is vitally important that you have a computer set up that can manage multiple trades. And this is where budget and personal choice come into it. We would recommend investing the greatest portion of your money in two things, the PC unit itself and the monitor or monitors. We will get to monitors in a moment, but investing wisely in a good computer set up means that you should have a processor that will not let you down when multiple trades are occurring. At the very top end of this particular area you can expect to spend thousands on a good com- puter. Some traders even request bespoke trading computers and there are specialist companies that do this. This doesn’t have to be you. But you should still start out with the end goal in mind, and this is buying a PC unit that is able to handle trading at multiple levels every minute, and also one that is able to handle running a number of monitors. Our expert says… Choose a computer with a fast processor. Because you’re going to have an absolute bucket- load of data flying back and forth every second, speed is your best friend. When choosing a computer for your day trading setup, it’s all about a fast processor. When viewing your data on the screen, if it isn’t real-time, you’re going to miss something at some point. A fast processor gives you the edge. Whatever hardware you buy, check out the CPU benchmark score for it. This will give you a clear idea of how the processor inside the box performs speed-wise. Most traders should be looking at a benchmark score of around 8,000-10,000 Ghz if they want to be active and trading at speed. Install an SSD hard drive Using a solid state drive sets you up for a faster experience. Most people new to trading or computing in general think a hard drive is all about storage space. But it isn’t. A high quality hard drive means a better trading day. Solid state drives give you a faster boot up time, for one thing. They last longer than the standard HDD, and they keep the system cooler through using less power. The best SSDs for read speeds clock in at 3,500 MB/s. And when it comes to writing, the tip-end SSD units come in at around 2,700 MB/s. RAM People underestimate the importance of RAM. However, the smooth functioning of your com- puter system depends on having an optimal amount of the stuff. Upgrading the amount of RAM your computer has doesn’t cost a lot either. It boosts your speed and performance because it allows multiple apps to be open, as well as a number of tasks to run at the same time. And that’s pretty much what a day trader needs.
  • 3. If we’re talking real monsters though, you may want to look at the Corsair range. Alway wells known for for their computing aspects, the latest models have around 3,466 as regards pro- cessing speed. And with capacity, you can’t go wrong with 16 GB. Spend money on RAM as soon as you can. If you can give your computer a RAM boost, you’re looking at a smoother and less frustrating trading day. Related Reading:  REVEALED: Can You Trade Forex Part Time?  CHECKLIST: Get Started Working for Yourself  FIND OUT: Best Laptops You Can Use for Day Trading Monitors This is the other big area of expense. Monitors are not necessarily expensive, but you will still need to find one that has good screen resolution. This is because the better the screen resolution, the more you will see on the screen. With so much data flying back and forth, you will need the full picture at all times. Top tip: The general rule is a resolution of 1920 x 1080 px for day trading. This will help minimise the impact of staring at a screen for hours on end. It’s an important consideration because that is what you will be doing. This resolution should also remove the possibility of ‘backlight bleeding’, where the screen shows lighter areas on a black background. Apart from being annoying, you need absolute clarity to make the best calls. At the same time, it’s important to have more than one monitor, especially when you start to make progress and build out a career in daytrading. With you having to keep an eye on plenty of different markets, and needing the ability to look at 2 to 3 different monitors at the same time, it makes more sense to have a full picture of your positions with multiple screens. Basically, it all comes down to making sure you can see all financial markets on different timeframes all at once. This can only happen when you have a number of high quality, high resolution monitors working at the same time. If this is beyond your budget, you need to think about purchasing at least a couple so that you can move quickly when numbers change. Top tip: The ‘refresh rate’ of a monitor makes a huge difference when those numbers change. This is an area where you can end up spending a lot of money because some monitors offer a staggering refresh rate. It’s exciting, and it looks good. For a trader who wants to see each change as it happens in milliseconds, it initially seems important to buy a monitor that has the best refresh rate around. However, for a day trader it is perfectly acceptable to buy a monitor that has a refresh rate of 120 frames per second. This means buying a monitor that has 120 Hz. This will easily keep you on top of sudden changes, and make sure that you don’t miss anything important. Find Out: Best Smartphones for Day Trading in 2018 and 2019 The stand
  • 4. This is where a lot of the hard work in planning comes in. A good stand can help with your posture, as well as your general overall physical health. It can also help with decluttering your desk. So it’s worth investing. Do’s and don’ts when purchasing a stand Don’t skimp on a stand Some of the basic stuff that a modern stand comes with is really important. A good stand should be able to offer you an option to tilt monitors for comfort. You can even reasonably expect a clamp mechanism so that the monitors can be raised up a little above the desk, so you have desk space freed up. There are plenty of options here and it’s important that you don’t go for a stand simply because it’s inexpensive. Do purchase a good stand The best monitor stands come with a number of mounts that have pre-drilled holes so that you can mount a number of screens easily. Even if you’re starting out with a couple of monitors, it’s worth buying one of these because they allow scope for adding more. It makes perfect sense in the long run to be able to add more as your career grows. Viotek Articulating Hex 6-Monitor Stand This stand is typical of the multiple mount option that allows for expansion as you grow as a trader. Don’t buy the wrong mount set-up
  • 5. Know why you should choose ‘wall’ or ‘through the desk’ mounting. If you’re looking at a selection of stands online, you’ll soon see that you have an option of having a wall-mounted stand or a ‘through the desk’ mounted stand. There are a ton of issues around this, and it’s important to know the difference between the two. If you’re looking to maximise space, the wall-mounted option makes perfect sense. It’s im- portant to remember that you will need to screw holes in the wall here. This may seem a little obvious, but can be disruptive. If it’s your wall and you’re able to do this, perfect. If you’re renting a flat, you may want to talk to your landlord first. A through the desk option allows you to keep things focused on the desk and not to cause disruption to the walls and the room. It’s something worth considering if you’re worried about your impact on the room around you. A good chair Some people do like to stand up for at least part of their day, but having a good chair to use as part of your trading setup makes a huge difference to the outcomes you’ll enjoy. Studies have shown that sitting in a chair for too long can bring about serious health problems. It has even been linked to mortality. If you plan to sit in a chair for prolonged periods of time it’s vital that you have a good chair to use. The very best on the market can be incredibly expensive. But there are a couple of factors that most good chairs can provide. Basically, as opposed to the standard office chair, find one that: 1. Has a full back. This will give your back the maximum support, and make it a lot easier to prevent serious back problems over time. The best office chairs in this area have backs that match the shape of your spine. 2. Allows your key joints to be at 90 degree angles. Basically, staying with your hips, and then moving onto your knees and your ankles, you should be looking at a 90 degree angle for each of the joints. If this isn’t the case, you’re either too tall or too short to use that chair. 3. Is 100% adjustable. We’ve all used office chairs that allow for vertical adjustment, but that isn’t enough. If you can find one that allows you to adjust the seat from side to side, you’re winning when it comes to protecting and promoting good posture. 4. Allows you to take care of the arms and the shoulders too. It should feel natural when you place your arms on the arm rests. If at any point you feel you’re making an extra effort to raise up your shoulders etc. it’s probably quite likely that you are looking at a chair that isn’t supportive enough.
  • 6. Desk This is a wide open field, and there are some fantastic desks out there. If you’re going to be trading seriously, you should be looking for a desk that has the strength to handle a lot of weight (because of the monitors). This means you could well be spending some serious money on a desk. However, it’s important to just focus on getting a quality desk that has some ability to take heavy weight. If your budget isn’t huge right now, just opt for a standard wooden desk, the heavier the better. You can even get this from second-hand shops. We thought we’d also point out that it’d be nice to have a stand-up desk as part of your line- up. These are great because they encourage you to stand up and move around. They also help posture because of their head-height approach. But they’re not essential. And last but not least…the mouse It’s last, but it’s definitely not in last place. Some day traders would argue that the mouse is easily as important as the chair, or the monitor. And in some ways it is. How? Well, when you’re in the thick of a series of trades in a small time frame, the very last thing you want is a lack of focus with your onscreen decisions. Owning a mouse that is responsive and allows for a quick and accurate click could really help to make your trading career more successful. Think about it. Missing a shift in price by a penny can have huge implications when you’re trading. So your mouse needs to be up to the job. One of the biggest considerations is the weight of the mouse. It’s generally best to go for a light mouse, so that you can move quickly across a screen. Then, you’re looking for a mouse that just feels responsive as you’re moving it across a screen. It’s all about fast and responsive movement, so that you get the most accuracy. And just in case you need stress relief… We all find trading stressful at some times. These little gadgets should help you relax, breathe, and stay focused. A stress ball This is one little tool that we think is indispensable. Squeezing the life out of a stress ball (or any other stress ball type toy) is a great way to reduce the pressure that a day of trading can bring. Not that you should have any, read our article on handling emotions while trading. Scalp massager
  • 7. This is well worth buying if you want to just breathe and relax a little. It’s soothing, and it takes your mind off whatever it is you’re worrying about. Adult colouring book These became popular a couple of years ago. There are hundreds around, and they are genu- inely distracting, allowing you to pull out of the ‘trading head’ for a few minutes. When all is said and done, your key items are the computer, monitor and chair. Everything else just needs a little careful consideration and some thought about how you want your experience to be. Get your emotions in check …  What is Revenge Trading? (And How To Avoid It)  Trading Psychology: How To Control Emotions While Trading  Why FOMO Can Obliterate Your Trading Profits Website: https://www.mytradingskills.com/ Email: support@mytradingskills.com Phone: +44 (0)1428 738305