Published on February 15th, 2019 | by Sunit Nandi0
Three Must-Have Gadgets for Traders
Online trading attracts two types of traders. For some, trading is a great pastime, and for others, it’s a way to make an income.
What these two types of traders have in common is the need for great trading gadgets. You see, besides learn trading strategies and improving skills, the best way to increase one’s profitability is to rely on great tools.
Now, there is a multitude of different trading tools available on the market, and it can feel overwhelming trying to figure out which ones are the best, especially when you’re first getting started.
Therefore we decided to list the three most important gadgets that every trader needs to include in their arsenal.
1. A Reliable Computer
You won’t make it far as a trader without a good computer to perform most of your trading on. In fact, it’s the backbone of any traders arsenal and more important than anything else.
As a hobby trader that is trading mostly for fun, a standard laptop can be more than enough. If it is reliable enough to handle your broker’s platform and a few graphs you should be fine.
Professional day traders on the other side need more than that. In order to run several trading platforms simultaneously as well as a handful of graphs without interruptions, you’ll need a good computer. A really good laptop can definitely do the work otherwise a stationary solution is recommended.
As a day trader, you’ll also want to create a good rig with a table that can fit at least two screens and seating that’s comfortable enough that you can spend several hours in a row there. The two screens make it easier to look at several graphs at the same time and are standard among day traders.
2. A State of the Art Mobile Device
There is no denying that mobile trading is the future and if you don’t have a top-shelf smartphone that can support the trading platform of your choice, you will lose out on opportunities.
Besides allowing you to trade wherever you are, the mobile device can also help you keep track of news and market movements at any given time.
Including a smartphone in your trading toolbox will give you an advantage that didn’t exist until very recently.
Also, it doesn’t really matter if it’s an iPhone or an Android as long as it’s new, fast, and reliable.
3. Apps, Platforms, and Tools to Support Your Trading
After you’ve set up all the hardware you need to successfully trade, it’s time to take a look at the trading app software you will be relying on.
A broker account is, of course, a must as well as access to a good trading platform. But besides that, you will want to have access to the best graphs and news outlets so you never miss an opportunity.
However, we would argue and say that one of the most important tools that you have to get is a world leading trading app to go with the smartphone we discussed earlier.
Trading apps come in a variety of shapes and forms, and you should really spend the time evaluating which ones you like the most and which apps allow you to perform at your best.
Setting up your first trading rig doesn’t have to be very hard and with the help of this article you can be up and running in no time.
What is important to remember is that your rig and the tools you use will differ depending on how much you will be trading. As a hobby trader, there are more shortcuts you can take while a day trader really needs to fine-tune their toolbox.