New Trader Setup

Bazza74

Newbie
6 0
Hi everyone,

Can anyone tell me what I need (Hardware + Software) to begin trading - futures? Obviously I know I need a PC and a couple of screens. For realtime prices what is the best value for money system? and should I have a separate standalone system for this ie not on my PC?

Thanks very much for any help
 

MartinD

Active member
105 2
It depends on which markets you want to trade.

I trade US futures only, such as the S&P, for which I use TradeStation 8. It is integrated data, charting and brokerage execution.

Platform fee is $99 per month plus data - free for CBOT eminis and $15 for CME eminis. Platform fee is waived if you do more than 500 roundturns a month.
 

Newtron Bomb

Experienced member
1,602 87
Hi Bazz74
With hardware you may want to have a look in the news papers and see what computers are on offer have the latest features... something that will be good as a gaming package (high quality graphics) was what i looked for. then get the best you can afford. Dell is one of the better producers. DONT get something off the shelf.

Software really depends on what you are trading. If you are trading Futures then how much do you want to spend? You can use something like sierra charts and the interactive broker feed or a mytrack data feed. Or a one stop shop for charting and data with something like esignal or tradestation.

A lot of factors depend on your budget and what you are looking to trade as well as what requirements you want from your broker and software.

Hope this heps a little
NB
 

MartinD

Active member
105 2
Yes, sorry I forgot to talk about my hardware setup. I'm running a recent Dell Precision workstation with dual TFT monitors on an nvidia card, XP Pro o/s, and a UPS with an hours worth of battery backup.

As Newtron says, go with a decent high spec branded machine for both reliability and speed. Xp Pro has been very stable for me, and programs such as TradeStation and Trading Technologies are only supported on the XP Pro O/S.

If you intend eventually to make a living from trading then you need the best tools of the trade, especially when its your money that will be on the line. Invest in a decent model APC UPS system to protect your PC hardware and allow you to close your open positions if there is a power failure.
 

Bazza74

Newbie
6 0
Thanks Guys - I'll start googling those software programs
 

ewilcox

Active member
134 2
medium spec dell desktop, G400 matrox graphics card, as many monitors as you can afford / have space for..

be careful about what software you buy. these days thats the expensive part.
 
 
AdBlock Detected

We get it, advertisements are annoying!

But it's thanks to our sponsors that access to Trade2Win remains free for all. By viewing our ads you help us pay our bills, so please support the site and disable your AdBlocker.

I've Disabled AdBlock