I’m often asked about the setup of my trading computer and what is a reasonable amount to spend on such a computer. I wanted to a take a few minutes to share my thoughts and help you in creating the best trading computer for your money.Do you want to learn more? Visit foxytrades.com.
Since starting in the financial industry, I have always worked with Windows PCs (personal computers). I don’t have much experience with Apple’s Macintosh computers (Macs) so the information I share with you is going to be focused on PCs. All trading platforms and software are PC compatible. The opposite is true with Macs where only a few trading platforms and software are compatible.
Like anything else, you get what you pay for in a computer. There is a premium on Macs compared to PCs, which is usually twice the cost. Macs, however, are well built and come with good parts.
PCs on the other hand are a different story. Brand name PCs, such as Dell, HP, and Acer, use some very cheap components in their computers and the lifespan is not as long as it should be. These cheap parts may not fully utilize some of the key features which you want in a computer, such as the processor. And while you may have a great processor, the other internals in the PC might not optimize the processor as they should. In other words, you paid for a premium processor that you will never fully utilize.
In my opinion, the best bang for your buck is building your own computer. You can purchase the best parts with each carrying its own warranty. It is easy to upgrade parts down the road and to repair individual items if you have issues.
There are companies out there selling trading computers that cost $3,000. You don’t need that. It is a common misconception that the faster your processor is, the more of an edge you will get in trading. The truth is that trading platforms and software only use a certain amount of resources on your computer and it is typically on the lower end.
These expensive computers are built with the finest parts for hardcore gamers. Trading platforms and software do not even come close to utilizing the resources that come with these pricey computers. The bottom line is that you are paying top dollar for a state-of-the-art computer that is beyond the scope of what you will need for trading.