When trading contracts for difference many traders feel they need an elaborate computer set up. Whilst this may impress your friends it is certainly not needed in order to trade the markets profitably.
The key computer components for those looking to trade contracts for difference are;
o dual core processor
o one gigabyte of RAM but preferably 2
o a reasonable graphics card with a 19 inch flatscreen
o reliable broadband connection
o laser printer
As you can see the above list is a fairly basic one and with the price of computer components coming down all the time the above set up should cost no more than $ 800 - $ 900.
A dual core processor is beneficial especially when you're running multiple programs at the same time. A dual core processor allows you to have several programs running at the same time without running your computer resources down.
Why a 19 inch flatscreen?
Se lecting a crisp bright monitor is one of the best investments you can make as a trader. The reason for this is because you will be spending the majority of your time staring at it. A cheap monitor will have terrible resolution and will do more damaged to your eyesight than what it's worth. Don't compromise quality when it comes to selecting the right monitor.
Do I need multiple monitors?
Multiple monitors come in very handy when you need to access lots of information at the same time. If you are an end of day trader or trade using fundamental information then multiple monitors will not be necessary. If you run several software applications and access live intraday information and like surfing the Internet then at a minimum you will need dual monitors. The good news is that a dual monitor card is very cheap and can be picked up at any reputable computer retailer.
Pick the best internet connection available in your area
Ensuring a quality Internet connection should be your highest priority. Having access to live pricing and the ability to place your orders online quickly cannot be emphasised enough and a slow Internet connection will cost you money and a great deal of frustration every time. There is nothing worse than trying to buy a CFD or FX position and due to a slow Internet connection watching the price run away as you are trying to buy.
Related What is the Best Computer Setup When Trading Contracts For Difference (CFDs)? TopicsQuestion by charliew77: What is the best way to buy a computer? I'm going to be in the market for a new desktop computer in the next couple of weeks or so. I'm at a loss as to which method is best. Should I build one (I have friends who can do that)? Should I go through a reseller like Dell or HP (I'm wary about Gateway, unless they've stopped being garbage)? Or should I check brick-and-mortar retailers like Best Buy? Which do you think is the best way to go to get a quality computer at a reasonable price? Best answer for What is the best way to buy a computer?:
Answer by Eims!!
For mine I checked Dell but I wasn't happy, so I just went into the computer shop! They know what's good so it's worth asking the people who know
Answer by scorpio11120
Best Buy or Circuit city. They have good computers there and they come with a warranty.
Answer by 007
the Internet
Answer by Buddy
Your best bet is probably is build your own computer. This way you get exactly what you want and it is usually cheaper. You can build a very good computer for around $ 200. The specs would include (around): 1 GB Ram, 3 GHZ Processor speed, DVD/CD-RW combo drive & 200 GB disk drive disk. It's obvious to see that if you bought a computer with these kinds of specs it could easily cost double. Why would it be cheaper? It's cheaper because you don't have to pay any store, technican to build the computer, etc, etc.
Answer by JRavey
Building your own computer can be enjoyable and you can get exactly what you want, but you often don't save much money after taking care of things like a new OS. The fact that many builders are able to buy thousands of motherboards gets them a discount. You'll also lose the peace-of-mind that comes with a solid, unified warranty. The downside of a pre-built is that you'll often get slightly worse parts and you'll have little luck in getting something that's exactly what you want.
Answer by hondapilot4me
Aha! For a great deal, what I like to do is wait for the newspaper deals on Sunday to come out and then race down to the store advertising to get one of those "as advertised" deals. It's cheaper than custom-ordering one online, and you can have your computer instantly. The only caveat is that you have to file many mail in rebates, but it's worth it. I got a free Epson Stylus C86 printer and a discount on the upgraded LCD monitor when I bought my eMachines from CompUSA in May 2005.
Answer by dixieprayerlady
Hello , I am also in the market for a computer too, so i have been just shopping in the stores and also online that way you get a variety of the ones you like and what your needs are exactly and don't be afraid to call those "computer repair stores" they will give free information as well as the departments and then write down what you are told and it would hurt to write down your questions as well as the prices when they tell you .Hope this will help.
Answer by whatupdawg23
Build your one. It's not that hard, and it's cheap.
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