Every day trader needs the right equipment and software. They are necessary tools to perform at an elite level!
But new traders get enamored by the big flashy setups professionals have and their suite of software aiding their decision making.
So what does a trader REALLY need to day trade?
What products and software programs are the best to get?
How much hardware and software is ‘too much’?
Today we answer all of these questions and more by breaking down the best trading tech and equipment for day trading!
Day Trading Hardware
Let’s start with the most important side of things, what hardware you are using:
Computer Monitor
You want to opt-in for a gaming monitor if you can stretch your budget. Gaming monitors have the clearest resolution and best responsiveness which helps trading performance greatly, especially if you are day trading. You need a monitor that will respond fast to your mouse and movements and displays charts crystal clear. Your monitor is what you are staring at all day, every day, so make sure you get something solid.
Aim for anything 25” or larger if you are building a nice home setup. Also, be mindful of mounting (which we will get into later). If you want to mount your monitors it is best to make sure they have VESA mounting capabilities (see image below)
Another thing to avoid is curved screens. Some people do like them, but a lot of software programs and charting platforms look skewed due to the curve, so keep that in mind. 1080p and above is ideal as well.
Here are some great monitors we recommend!
ASUS Performance 25” Gaming Monitor 1080p
https://www.amazon.com/VG278Q-G-Sync-Compatible-Adaptive-Monitor/dp/B074JLD4HZ
LG UltraGear Gaming Monitor 27”
Stock Trading Computer Hardware Requirements
Whether you get a custom-built computer or buy it pre-made, you have to make sure it has certain specs.
If you are looking to actively trade, you will want to look for gaming computers with sufficient memory management specifications, large storage space, quick processing power, and good graphics capabilities.
Going with a Windows machine as well as opposed to a Mac/Apple computer is the best way to go since many programs only run on Windows.
Your PC has to be all of the following:
Reliable
Your trading computer will be operating continuously for long periods of time, so making sure it is dependable is crucial. Buying a used computer can be ok, but it is best to go new. Don’t skimp out, this is the lifeblood of your trading operation. If your computer is slow, doesn’t have the right specs, and has viruses all over it, you will run into some problems.
Quick
If you are getting a PC in this day and age, you should be getting an I7 or above. I5s can perform alright on some programs, but with the release of I10 processors recently, I5 processors will soon be extinct.
Another thing that has to do with speed is RAM. Make sure on your main trading machine that you at least have 16GB of RAM or more.
Memory Efficient
Opting in for 1TB of memory and a great hard drive/SSD will help your computer manage and sort all of the incoming and outgoing data trading softwares require. Whether you build or buy a PC, make sure you have enough memory in your drives so you don’t have to worry about that ever.
Expandable
You should think ahead to your ‘dream setup’ with the PC you are buying. Many computers do not allow you to expand RAM by adding another stick of RAM, and also only have a limited amount of ports for external monitors. If you want 6 monitors at one point, make sure the computer has 6 display or HDMI ports and can physically handle 6 monitors down the road properly.
If you are looking for a great pre-made system, Falcon Trading Systems is a great company that makes computer systems and setups specifically designed for traders.
You can them out right here: https://falcontradingsystems.com/
Extras
Stands
If you want to grow your setup and start mounting monitors to get more screen real estate, you will want to get a solid stand.
Stands are everywhere, and you can get anything from a 1 monitor stand all the way up to 8+ monitors. We recommend a 4 monitor stand to start with.
VIVO Quad VESA Monitor Mount
Day Trading Keyboard
Your keyboard should feel entirely comfortable to you. A lot of traders like gaming keyboards since they are very quick and responsive. The keys are also positioned in comfortable ways that promote performance and fast keystrokes.
You can choose gaming keyboards with either ‘clicky’ keys or ‘soft’ keys. Both are great, and ultimately come down to personal preference.
Also, consider if you want wired or wireless.
Corsair Gaming Keyboard
Day Trading Mouse
Just like the keyboard, consider if you want wireless or wired. Wired connections for mice tend to be more reliable, so just keep that in mind.
Razer Wired Gaming Mouse
Day Trading Mousepad
A lot of people neglect their mouse pad, but it can be very important. If you like speed, choosing a gaming mousepad will give you more control over your movement, which can help when navigating charts and multiple monitors.
RGB LED Gaming Performance Mousepad
Stock Trading Software
Charting Platform
This is probably the most clear and obvious software program you should have from the start. Having a clean charting platform that not only looks good, responds good, and is reliable, but can also allow you to use different tools and make markings on your charts is key.
For our charting platform, we recommend TC2000. For years our educators and students have been successfully utilizing this platform to trade the markets. With great watchlist creation functionality, infinitely configurable charts, and tons of indicators. The main thing we love about this program is its reliability though. Even during extremely volatile conditions, the data feeds hold up strong and continue to print charts.
If you want a more in-depth look into TC2000, check out our page on it here:
https://bullsonwallstreet.com/tc2000-the-best-charting-software-for-trading/
Stock Scanning Software
Scanning softwares essentially allow you to add any single or multiple criteria to a scan and get an immediate output with a basket of stocks that fit that criteria, real time. To truly be successful and self-sufficient as a trader, having a scanning software will help you find ideas and tradable setups that you would have otherwise missed searching manually.
There are a few leading scanning softwares on the market now, but we love Trade-Ideas. Having a scanning software to easily sift through ideas and help categorize the 10,000+ stocks into a small, tradable basket for yourself every day is what scanning softwares will do for you.
A great free scanner with some limitations like real-time result feedback is finviz.com. Nonetheless, this software is a great web-based option for those who especially are swing traders and only want a scanner to generate overnight watchlist ideas.
Trade Journaling Software
A journaling software like TraderSync is so crucial to your development, especially as a new trader. Softwares like these intake all of your trading data, and organize it into digestible statistics that you can use to improve your game.
What setups do you trade the best?
What setups do you trade the worst?
What times of day are best for you?
What should you look to work on?
All of these questions will be answered and relayed to through a journaling software. Don’t skip out on this one! It is a key part of any trader’s development!
News Software
Having access to an organized, real-time news feed can give you an edge over other market participants. Benzinga.com is a great thing to have at your disposal during the day and during pre-market.
Internet Connectivity & Speed
This is a category we wanted to finish off with that a lot of people do not really think about. The connectivity, reliability, and speed of your internet is crucial to your trading operation. Using wired ethernet over wifi is something that is almost a must if you are trading at home full time. Fast wifi and hotspots can be great for traveling obviously, but if you are doing this full time and pushing big size, you will want to use wired internet that is lightning fast.
You will want to test your internet speed using one of the many free programs out there nowadays and make sure you contact your internet service provider and buy one of their top-tier packages.
Take an internet speed test here:
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