I would like to build a PC for stock trading, what would be recommended parts?
I would like to run 3 monitors. I have two 22″ AOC monitors (http://us.aoc.com/monitor_display/f22) and one Vizio 22″ HD TV (http://www.vizio.com/m220va.html) If the price could be kept under $1000 that would be even better. Thanks
the Www.total-forex-trading.info link didn’t work, maybe you could send me the link to the webpages specifically.
One of the first questions you need to answer is what kind of investor/trader are you? Also, how many different markets do you want to trade?
Do you have any experience as an online trader? Your overall success will be much more dependent on your knowledge of the markets and your skills and insights as a trader. Do you have a trading plan? Are you going to be running any proprietary brokerage software or other third party technical analysis software?
All of these questions play into answering your question regarding hardware. The actual hardware you need will be determined by the type of trading you do and the software you want to run. Once you have made those decisions then you can easily configure your hardware.
For example, I am a “swing” trader or a “position” trader. For the type of trading I do, I am fine using my broker’s website and proprietary software, although I also run MetaStock End-of-Day version for doing some advanced technical analysis. I can run all of this stuff on my HP Pavilion dv9700 laptop without a problem. Since I am only concerned with end of day data, I don’t need a multiple monitor array as I can quickly review everything I need to see on all of my positions in about 30 minutes after the market close.
However if you plan to be a day trader, then you need multiple monitors, the fastest internet connection and network you can get, a very fast video card to get the data to the monitors, lots of RAM and a fast processor. SPEED is the name of the game in day trading as you can make or lose money in a matter of seconds depending on the size of your positions.
Also, keep in mind that you will need REAL-TIME software and REAL-TIME data from your data vendor. This is considerably more expensive than End-of-Day software and data.
On the other hand, if you want to be more of a long-term investor, you don’t even really need a computer. Your local library will probably have a copy of the Value Line that you can use to evaluate solid long-term candidates and you can follow the stocks in your local newspaper or on any financial website.
There are a lot of other things to consider too. Do you just want to trade equities and ETF’s or do you want to also trade options, futures, and/or forex?
Be honest with yourself about your skill and abilities when making these decisions. Unless you are a skilled investor, you should probably start off either paper-trading with a fake account or investing small amounts in stocks or ETF’s until you start to get a feel for it.
But if you take nothing else away from this answer, remember this…your computer is not going to make you a successful investor…your SKILLS are. Make sure you understand the principles of investing and practice them before you start investing large amounts of money.
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