I pretty much trade on any electronic device, my cellphone, a tablet, a laptop, etc. There is nothing like the feeling of stretching out on a desktop system to where you feel like you are in control of command central. Mi Fiance laughs saying that I am controlling the world from that seat. I wish.
By the way, see me in the photo to the right, that is me walking her dog. I affectionaletly call him “Shit-head” in reference to a Steve Martin Movie “The Jerk”. Squirrell….ok, back on task.
Everyone has different trading styles and tools that they use. My mantra is, if it works for you, then use it.
This photo above is my desktop setup in my home office. It consists of 2 24 inch monitors, a fast internet connection, and a specific business computer that has two display ports built-in. IBM no longer makes this TS 140 computer. It is built like a tank and has never failed me. I upgraded memory and added an SSD drive so it is super snappy. This really is overkill for me, but I can always watch a movie and do other things when I have two screens available. Note July 2020. The computer has since been upgraded to one I built with a faster CPU and tons of memory. I also added a 42-inch screen which definitely helps my old eyes. I turned the TS-140 into a home server.
I keep my short term brokerage account open on one screen and search for my next setups on the second screen. I do not spend much time looking for stocks to trade. The first thing I do is a filter on Finviz for stocks that are active and have decent price action. This is free.
Next, I chart the stock on tradingview.com. I have a subscription to this service with delayed data. I do not need to live time. I do need to save my templates and trading lists, so the price is worth it. Every year they will run a special. I think I paid $80 for the year on the pro subscription. If you are an active trader, it is worth it. I will be ecstatic when they find a programmer who can integrate interactive broker with their software.
I chuckle when I see people with 10 screens on having charts and news blaring in the background like in the photo below. I think they may be overcompensating for something 🙂 This is overkill for me and the only folks I see that use systems like that are young’ins (Mountain vernacular for young folks) and guys, like this link, who are showing their “Simple” trading systems and trying to sell you something. I guess maybe if you are day trading a bunch of stocks this is feasible. Not my trading style. I like my time with my fiance, our hound dog, and traveling.
I’ve learned 20 years ago that if you are listening to financial news all day long, it will screw you up as a trader. You end up chasing stocks. Twenty years ago I shut off the noise and only look at price action. I do this either by ticker reading or the use of charts. The data is readily available. Price and volume don’t lie.
The most important thing I ever learned in college, that affected the rest of my life, was a first-day discussion about supply and demand in a basic Economics class. They called units widgets. I wish they would have called them stocks 🙂 Basic Economics should be required as early as middle school, a refresher in High School, and then again in college.
Notice the big speakers in my setup. These are JBL LSR308 8″ Two-Way Powered Studio reference monitors. These are for my music recording and really has nothing to do with trading. Once you use studio monitors you will never go back to listening to music on dinky computer speakers. They quit making this model, but the newer model has the same specs and twice the price. I got mine, on sale, for $300 for the pair.
To be honest I rarely use this setup as I do not stay at home much. While I am out, I either use my cell phone to trade or a tablet. These work fine once you get used to how the software works. I also have a full-size laptop, but it is a pain to use if you are at the beach, traveling, or on a plane.
To be honest, the most important part of my home office setup is the comfy office chair. I spent more money on that chair than the studio monitor speakers.