Four Keys to Success with Day Trading
What was once an activity exclusive to professional financial firms and speculators, day trading is now a past time enjoyed (or loathed as is often the case) by at home traders. But before you think about quitting your day job, consider this. Only 11.5 percent of day traders ever trade profitably, and industry experts believe that 95 percent of day traders fail within the first two years alone.
If those facts do not dissuade you, however, you must invest in technology that can keep you up to speed and in real time with the stock, futures, or foreign exchange markets. As such, the following are a few items you must purchase if you dare embark on the tenuous world of day trading.
1. Buy a Trading Computer
You can not use your household laptop or desktop computer. Instead, invest in a stock trading computer that is specifically used for day trading only. The data of the markets fluctuates constantly, and if your stock trading computer systems are not up to snuff, the prices you will see will always be slightly off. That, in essence, will make your day trading efforts fail…miserably.
2. Have a Backup
The worst thing that can happen is that your day trading computer could crash on you while you are trading. It is always important to have a backup computer with software stock trading that is ready to go on a moments notice.
Both your regular and backup trading computer must be equipped with super fast processors, a ton of RAM, and enormous storage. At the very least, start with something akin to a Pentium 4 with 1 gig of RAM and a 40 GB hard drive.
4. Trust Your Gut
Buying the best computer for stock trading is one thing, another is to not trust claims from day trading firms that promise you the secrets to easy and quick millions. Remember, as with all things in life, if it sounds too good to be true, it probably is.
More can be found here: tradingcomputersnow.com