What second PC is needed for day trading?
Should I get a desktop or a laptop? Please read below:
•A PC with a good monitor: Most personal computers sold nowadays have the processing power to handle day trading. Because you’ll be spending a lot of time in front of it, do yourself a favor and get a large flat screen — at least 17 inches diagonal.
•A second PC: Computers are fickle. No matter which brand you buy, you’re subject to different mechanical or software glitches that can shut you down. That’s why it’s good to have a duplicate of your system on a laptop or second PC, so that you can switch over quickly.
•High-speed Internet access: You need a fast, reliable connection. Period.
•Spreadsheet software: Still haven’t figured out Microsoft Excel? It’s time. Spreadsheets will help you track performance and analyze returns.
•An online brokerage account: Several brokerage firms specialize in the needs of high-volume traders. They offer online access, real-time quotes, backtesting and other analytical services, and low commission to those who make many trades.
Those specifications would apply to either a desktop or a laptop. Whichever one you get is entirely a matter of personal choice.
If you’re thinking of buying a second computer only because you’re going to start day trading and you believe the stuff you quoted above — why not wait for a while? Give it a month or so and decide for yourself whether you actually need one. By then, my guess is that you’ll have discovered that day trading really isn’t the path to riches you hope it is, and you’ll be glad you didn’t go out and spend hundreds of dollars on a computer you don’t really need.
August 2nd, 2010 at 5:06 am
Those specifications would apply to either a desktop or a laptop. Whichever one you get is entirely a matter of personal choice.
If you’re thinking of buying a second computer only because you’re going to start day trading and you believe the stuff you quoted above — why not wait for a while? Give it a month or so and decide for yourself whether you actually need one. By then, my guess is that you’ll have discovered that day trading really isn’t the path to riches you hope it is, and you’ll be glad you didn’t go out and spend hundreds of dollars on a computer you don’t really need.
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August 2nd, 2010 at 5:52 am
What you should be doing is reexamining your desire to "day trade." Most amateurs lose in the long run. Small investors can’t complete with large institutional traders and computerized trading systems that "move markets."
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August 2nd, 2010 at 5:59 am
pc
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