Hey all,
I’m new to trading, although have been learning for a while, and am wondering what i should choose to start trading on, a laptop or desktop. If you could tell me what you guys use and what’s the most important things to be looking out for when choosing a laptop/desktop.
Thanks in advance.
Welcome!
Personally, it doesn’t matter to me. I do not day trade, I pay attention mainly to the daily charts so I’m not in front of my computer all day. I try to do a little analysis at the end of each trading day but that only takes about 30 minutes and requires only one screen.
Now, if you’re in to day trading and scalping and are looking at multiple time frames or currency pairs simultaneously, then you may want additional screens and a desktop may suit you more.
Another point: I know Meta Trader 4 is a pc program and requires crossover or wine bottle to run on a mac, so you also may want to take that into consideration. Again, I use my broker’s online trading station so I am able to trade on my macbook pro pretty easily.
It’s all personal preference really!
Thank you very much for your reply.
Do you just trade FOREX? If so would you say that a laptop is sufficient as I don’t plan on starting to day trade until I have gained a year+ experience in live trading FOREX.
Yep, just FOREX for me! At first I looked into Stocks but I just didn’t have enough money for that so I opened a forex account and love it now.
It sounds like a laptop would be just fine for you. If you’re only checking charts once per day and aren’t making a ton of trades i imagine is won’t be a problem! Good luck with it all!
Thank you! I’ll just be sticking with FOREX for a while so a laptop sounds good thank you for your help!! Good luck to you too!
Hey monopolyman, interesting question!
I trade on a Chromebook (web-only laptop), a Samsung Windows-OS desktop laptop, a MacBook Pro laptop, and a Sony Xperia smartphone… all of these using FXCM’s platforms…
Personally, I sometimes combine two laptops and/or smartphone in order to view different things at the same time… Maybe I will have my open positions list on my smartphone and study charts in full screen on the laptop or Chromebook…
While at work, when I have breaks or during lunch, I check on my positions and/or forex news on my smartphone, because it is discreet and allows me to do so on the move…
However, for charts and drawing indicators on them, nothing beats a larger screen, so if I need to do that I prefer to wait until I am at my desk or at home…
There you go!
That’s an interesting combination you have there, seems everything has a different purpose and well suited to their different jobs. I too use FXCM but i didn’t even know they had a mobile platform!
The MacBook has got something about it that’s drawing me towards choosing that.
Thanks for your input PipMeHappy!
Chief among considerations on my list would be a reliable internet connection and if that fails, an entirely independent back up system. Nothing more frustrating than being in a trade when ‘the lights go out’ reaching for the phone to cancel a position for lack of information.
I suppose it will depend on how many crosses you want to follow? Personally, I only trade GU, with an eye on EU. However, I like to have up 1h, 2h, 4h, 6h, 8h, daily, weekly and monthly. I make no apologies… never let it be said I enter a trade with my eyes less than open. Seriously though, anything more than a few crosses using multiple time frame analysis and your going to need more than one monitor. I get by on two 21" monitors for observing/ trading GU as above. I have more but they tend to be put to Futures, Equities and BP of course!
EDIT. And on the weekends… I can’t get near enough to even post here until the ‘wee’ hours for the kids gaming. An unforeseen problem!
Trading on IPAD.
Mt4 as my platform, if you speak to most legit brokers they will recommend Mt4 be it on PC, Apple or Android.
Dont get to carried away with monitors,
KISS (Keep It Simple Stupid)
Indicators:
MACD
MA
Alligator
Fundamentals:
Google
Www.fxstreet.com (feee fundamental calendar)
Usually you can tell a countries retail outlook by cross checking the relative share market at the time, I’ve been carving up with this strategy as of recent. If you can predict fundamental movements you don’t need technical indictors. In saying that i use both fundamental and technical indictors.
XX (kiss)
EDIT: my IPAD has 3G as well as WiFi from my house, so, on the move OR in case of a power failure im safe
Thanks for your reply’s guys they’re very helpful I appreciate it. My internet is very good but a few days a year it decides to stop working so I will have to come up with a back up plan for that. Also I trade 20 pairs so I have an aggressive style, by the sounds of R Carter’s reply I will be needing multiple monitors!
What brand are your monitor’s and tower if you don’t mind me asking or does this not really matter as long as it has a large memory?
Hey monopolyman, you will be aware of Nial Fuller, I am sure; here is an article about the topic you posted (among other things): Setting Up A Forex Trading Room To Improve Trading Results | Learn To Trade.
[QUOTE=“PipMeHappy;610758”] Hey monopolyman, you will be aware of Nial Fuller, I am sure; here is an article about the topic you posted (among other things): Setting Up A Forex Trading Room To Improve Trading Results | Learn To Trade.[/QUOTE]
Handy article
Thanks for sharing that article, personally I found it handy I only wish I had seen it sooner. Beanbag in the corner of a quiet room is where I’ll be trading from
It doesn’t matter. Just get the most up to date kit your budget allows and a reliable broadband connection.
It also depends on how long you hold your trades, I think. I use a laptop and sometimes a couple of monitors at the beginning of the week to spot setups and backtest mechanical systems and then use tablets and phones to monitor my trades.
I see, I hold my trades for a short period of time usually. I’ll start with a laptop they seem to be a good choice from what I can gather from the response I’m getting and will also use my phone to monitor on the go.
Hey monopolyman, you may enjoy this thread’s photos:
24+ Amazing Trading Desks from Around the World | Online Trading Academy
I trade on my android tab. It’s more convenient for me because of the nature of my job.
I’m still a newbie though, but I’m beginning to get a hang of it :18: