While trading may seem like a mostly theoretical thing that requires experience, skills, and training, it’s actually crucial for any trader to have a decent hardware setup. If your device is outdated and slow, all chances are you won’t be able to monitor all the data you need at once, and an ill-timed freeze can be devastating for your portfolio. In this article, we explain how to choose the right device if you are just a beginner.

Basic equipment options

When it comes to choosing a device for trading, there are several basic options. Many full-time traders prefer to use a trading computer with multiple screens. This way, you can simultaneously access data from numerous sources, and such a setup is perfect for technical analysis. Moreover, a trading PC will help you eliminate all distractions and focus on the process. But desktop computers lack mobility, and they also tend to be quite expensive, especially for beginners.

That’s why a novice trader should probably look for a simpler solution. Trading laptops are particularly useful, and they’ve become quite popular lately even among professional traders. These devices can perform pretty well with just about any trading software, but they are also mobile and versatile. A good laptop is probably a perfect choice for part-time traders or long-term investors who don’t need to stay in front of their trading terminals all day, and they are more affordable than PCs.

However, there is another option to consider. If you prefer your trading equipment to be really mobile, you can actually use your smartphone for trading. It is always with you, so it can be used any time to look at open positions, and mobile trading apps are especially user-friendly. You won’t be able to run complex tools for technical analysis or use multiple screens, but you probably don’t need that anyway if you are still learning.

How to choose a device

While smartphones and tablets are very convenient, an aspiring trader who wants to be a professional one day should definitely practice on a laptop. A trading PC is even better, but don’t invest in one until you start making profits on a constant basis. Instead, you can invest in additional equipment like a pair of noise-canceling headphones or a comfortable office chair, especially if you’re going to spend hours trading. By the way, there are laptops with dual screens, and they may also come in handy.

Follow author Oleg Tkachenko on Twitter.

By Manali