It might sound elementary but there are some simple, easy things you should do to help your trading.
- Use good, high resolution monitors. You will be spending a lot of time looking at these and staring at fine detail. Preserve your eyes as best as possible with the best you can afford. They don’t need to be curved, ultra wide gaming models, just good, plain monitors that refresh quickly and clearly. I had someone once try to trade using a netbook… all of 7 inches. I doubt he lasted.
- Use 2 monitors; 3 may be even better if you have other programs you can’t live without. I use 3 screens but mostly as I also have to moderate meetings and webinars, while always maintaining my email support. So the workload is greater on my end but for the average trader, 2 monitors should work well.
- Spend the $100 and buy a suitable uninterrupted power supply (UPS). Hopefully, you will never be called upon to use it but
ifwhen your power goes down, you will be thankful it is there. This is especially true if you live in an area prone to power outages. In the same vein, if nothing else, make sure you have a surge protector on your equipment for the obvious reasons. Goodness knows I learned this the hard way and as a result, missed exiting a profitable position simply because I fell back to candle power.
- Ensure you have the fastest, most reliable internet possible. It’s the first question I ask when I go on vacation or consider moving to a new location… what’s the internet like?
- Bandwidth can be another issue of contention if you are maxing it out. For example, GoToWebinar® seems to cut the audio when stretching your resources. I find faster, more reliable service if I close off any internet hungry programs I really don’t need. Keep the path wide open for the data that you need.
Trading is not a game. It’s often the little things that bring it all crashing down. Do everything possible to eliminate the associated risks and reduce your mental stress in the process. It only takes one bad incident to be very costly.
Hugh Grossman, Head Trader at Day Trade SPY.
Hugh Grossman is the founder and Head Trader at DayTradeSPY and uses his vast experience to teach his methods to make consistent daily gains trading SPY options. Join Hugh in his interactive Trading Room to see how he regularly pulls in the profits!
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