You can’t trade using just your phone. Not effectively and efficiently, anyway. This is why you need to have at least a 6 monitor setup using a reliable computer to make sure you monitor all the best indicators and charts effectively.
The thing about being a day trader is that you need to have multiple screens so you can keep an eye out for those charts and indicators. Missing important information in real-time could mean failure to execute your trading goals.
Benefits of Trading With a Laptop
You have two basic options for your day trading setup. You can either go with a laptop or a desktop. They’re both good but it’s more of a personal choice.
Laptops are better because they’re more portable. You can take your laptop anywhere with you. If you want to become the type of trader who can trade anywhere and anytime, you need a laptop.
Furthermore, laptops are also fail-proof and are quicker to install compared to desktops where you might have to grapple with a lot of cables and wires.
Don’t worry because there are a lot of good laptop options today. You’d be surprised how many laptops have high-end features that can even give desktops a run for their money.
Laptops are also great when you’re dealing with power outages. You can still trade in your laptop, thanks to its long battery life.
What Makes a Good Day Trading Laptop?
When you’re in the market for a laptop, what exactly should you look for?
Basically, if a laptop is good for gaming, it’s good for trading. But since many gaming laptops are quite expensive, you can go with those that have minimum specifications such as the following:
When you’re trading, you’re dealing with large amounts of information at a time. You need to make sure that your laptop can deliver this information fast. The processor is responsible for providing the information that you need.
If you’re using a laptop with weak processors, there’s a good chance that you will experience delays in receiving the information that you need. Your laptop can freeze and take time to transition. That’s what you would want to avoid.
Ideally, you should look for a laptop that comes with a quad-core processor. The minimum requirement is 2.8GHz but you can go as high as 3.3GHz. The higher the processor specs, the better. This should be a good entry-level to the mid-range processor that will not break the bank.
New laptops today usually come with SSDs or Solid State Drives. This is where your computer’s data will go. SSDs are better because they have more storage capacity. Additionally, they make booting up your laptop much faster.
A laptop with an SSD will quickly restart. In case yours needs to be restarted in the middle of monitoring a trade, you can do so without losing a lot of time.
Another factor that you need to consider when buying a new laptop is the RAM or Random Access Memory. This is the part of the computer that ensures efficient performance. Since you’ll operate multiple applications and programs in one go, you’ll need high RAM to accommodate these needs.
You need to have at least 8GB of RAM for day trading. However, if you have more room in your budget, you should get 16GB or higher.
Since you’ll run at least a 6 monitor setup, you need to make sure that your laptop has the right graphics card. The minimum specification for a graphics card should be 2GB. However, since you need a 6 monitor setup, you need to go higher than that.
What to Look For in Monitors for Day Trading Laptops
Before assembling a 6 monitor setup, you first need to look for reliable monitors. First, consider the size. Make sure the 6 monitors you’re buying will all fit in your workspace. To consider the best size, also consider the mounting options.
Would you prefer a 3×3 configuration where three monitors are horizontally positioned over another set of 3 monitors? What about the pyramid configuration? These are the things that you should consider.
Another thing to consider when buying laptops for your 6 monitor setup is the resolution. Always look for a monitor with a clear display. Since you’re processing large amounts of information in real-time, you need to make sure that the monitors have a smooth transition.
Ideally, you should go for monitors with at least 1080p resolution. This should provide crisp images that will help you decipher and read your indicators even from afar.
Check for connectivity options as well. Go for those that can be connected through your HDMI cables. That way, you won’t have to spend so much money on expensive connectors. It’s easier to set up your monitors on your laptop using a Diamond USB and connect to HDMI adapters. You can also use a USB port hub that will help you connect to more USBs.
When buying monitors, go for the VESPA-certified ones. That’ll ensure a faster and more seamless installation of your 6 monitor setup since the VESPA ones will work for universal mounts.
Setting Up Your Multi-Monitor Setup
Shop around for a good computer table. It should be spacious enough to accommodate your 6 monitor setup and still have a lot of room for your other accessories such as your keyboard and of course, your laptop.
Use a good monitor rack to hold all your monitors in place. Get a good cable organizer as well to keep all those wires in place and prevent your setup from looking too cluttered.
Assemble everything together and make sure you get the most visibility. Position the monitors in such a way that they’re not facing windows so that the monitors are easy to see.
Get a good computer chair as well. Since you’re trading for hours, make sure you can sit comfortably.
With these things in mind, you should be able to create an effective 6 monitor setup that you’ll use for a long time.