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MAJOR LIFE CHANGE


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#1 coopanacci

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Posted 09 April 2009 - 10:22 AM

I have been contemplating trading for a living for some time now but I've had a great job until tomorrow. :lol: Looks like I will have assistance in making the career change. :D My question for now is what to get for a computer. I have an old laptop that I use to look at my trades after hours when demand on the comp is not that heavy. I don't think I want to spend on a laptop just yet as I won't be traveling much any time soon. I have a monitor so I really only need a cpu. My question is what type of hardware do I need to maximize trading. For example I would think using two or more monitors would be helpful. Could someone make some recommendations on processor memory video sound and any other hardware that will best suite trading. Thanks

#2 denleo

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Posted 09 April 2009 - 10:29 AM

During my trading career I sat in front of 15 inch black and white monitor and a slow old computer AND at other times I sat in front of 6 large monitors with t1 line and the fastest machine available. RESULTS ARE THE SAME. Denleo

#3 Rogerdodger

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Posted 09 April 2009 - 10:35 AM

RESULTS ARE THE SAME.

;)
Losing a job can knock you off balance emotionally and make you have a sense of urgency.
Many folks feel that if they spend a lot on computer stuff, that will insure trading success quickly.
Get a laptop and a wireless internet connection.
$400 for a Toshiba with XP.

After you have made your first $100K, get a quad screen workstation and a Porsche.

Edited by Rogerdodger, 09 April 2009 - 10:40 AM.


#4 IndexTrader

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Posted 09 April 2009 - 10:41 AM

I bought a Dell Precision T-3400 about a year ago:

http://www.dell.com/...u...;l=en&s=bsd

It comes set up for dual monitors. Or you can get it set up for 4 monitors which is what I did...that's extra.

I'd get it with XP Pro. And I'd get plenty of Ram.

But rather than worry about the computer, I'd worry more about how much cash I had, what my expenses were, what my experience is.

IT

#5 denmo83

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Posted 09 April 2009 - 10:43 AM

RESULTS ARE THE SAME.

;)
Losing a job can knock you off balance emotionally and make you have a sense of urgency.
Many folks feel that if they spend a lot on computer stuff, that will insure trading success quickly.
Get a laptop and a wireless internet connection.
$400 for a Toshiba with XP.

After you have made your first $100K, get a quad screen workstation and a Porsche.



http://www.newegg.com/

#6 Cirrus

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Posted 09 April 2009 - 10:47 AM

It depends on time frame but I love great tools to help. I would get a solid desktop with two Samsung Syncmaster 305T monitors. You'll need a good NVidia card to drive them. That will give you plenty of video real estate for charts, etc. Many others here will have suggestions on charting programs. I use tradestation but there are a couple others that are just as good. Go with a broker that fits your style. Interactive Brokers is great if you will be an active trader. FWIW.....

#7 TTHQ Staff

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Posted 09 April 2009 - 10:51 AM

Also check out StockCharts.com and DecisionPoint.com.

#8 humble1

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Posted 09 April 2009 - 10:54 AM

best advice: forget it and try to find work in the area you are used to. you have to be crazy to win at this game and/or have watched winners win for decades and/or have a legacy. you must learn to trade to be wrong and win that way. your chance of winning is about nada. if you take my advice, you have just saved thousands and i charge nothing for it.

#9 AChartist

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Posted 09 April 2009 - 11:00 AM

I pretty much use the decision point chart books for the stocks.
the pmo system is very good.


Also check out StockCharts.com and DecisionPoint.com.


"marxism-lennonism-communism always fails and never worked, because I know

some of them, and they don't work"  M.Jordan


#10 dw85745

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Posted 09 April 2009 - 11:30 AM

Since you're emotionally down right now, -- IMHO -- I'd take some time to adjust and give a lot of thought before deciding to try "trading for a living". I extremely dislike the words "trading" or "investing" as it is really "gambling". 1) People think it is easy money, but it is the hardest job in the world. 2) Your up against some of the best. Consider trading like a professional sport. A few at the top but most players end up losing money. 3) If you lose a large sum, whether in one hour, one day, or one week, it can have a great emotional impact. Given your situation, can you afford to lose? 4) Prepare to spend a lot of your time. I approx. 12-15 hour days, 7 days a week. I've been doing this full time since 1994. If you do decide to trade the best advice I can give is: You're playing against your own fear and greed as the market doesn't know or care where you get in or where you get out of a position. Best of Luck David

Edited by dw85745, 09 April 2009 - 11:32 AM.