| We have come a long way from the time when | | | | convenient to have an extra screen to be able to |
| stock, commodity, and securities trading was the | | | | view your trading platform screen and be able to |
| dominion of professional traders working for | | | | view other support information at the same time. |
| brokerage firms. You as an investor were dependent | | | | This would require and extra video card or dual video |
| on them to give you information and access to the | | | | card and of course an extra monitor. |
| exchanges to perform your desired trades. You do | | | | 3. The next thing you need is a trading platform. If |
| not have to depend on them anymore. Declare your | | | | you are a beginner you may ask, what is that? It is |
| independence. | | | | the program that you install on your computer to |
| Technology advances have made it possible for | | | | gain access to a brokerage service that will show |
| anyone to get set up to have access to the | | | | you real time trades that will allow you to monitor |
| information, exchanges and knowledge required to | | | | your trades and market conditions and will allow you |
| trade the same as a professional trader. That is not | | | | to start and discontinue trades. Online brokers all |
| to say anyone that ventures into the online trading | | | | offer trading platforms to varying degrees that give, |
| world will be successful but getting set up properly | | | | quotes, trade order entry, and charts with real time |
| and with the right software and knowledge will move | | | | or delayed data. You may want to delay your choice |
| you much closer to that goal. | | | | of broker until you choose your training course or |
| OK, so you have decided that you want to take the | | | | materials. |
| plunge and get set up to trade online. What do you | | | | 4. Now that you are all set up and ready to go, you |
| need to maximize your odds of success? Some of | | | | need to learn how to use the trading platform |
| the suggestions here will be obvious, others not so | | | | software, but more important you need the |
| much. | | | | knowledge to know when to enter a trade and |
| 1. First, obviously you will need access to the internet. | | | | when to get out of the position you have taken with |
| Broad band access is highly preferred and with some | | | | a given financial instrument. |
| of the trading platforms, will be required. | | | | • The knowledge of the trading platform will |
| 2. Also obviously you will need a computer. Any | | | | come from using the software over time. Trading |
| relatively current model will likely do the trick although | | | | platform software allows paper trading, meaning the |
| there are some features that are preferred and with | | | | user can trade without using real money to test his |
| some trading platforms will be a necessity. | | | | proficiency at using the software. Online brokerages |
| Recommended minimums for a PC: | | | | provide tutorials to aid in learning the use of their |
| 2GHZ microprocessor | | | | software. Intimate knowledge and proficiency with |
| Hard drive large enough to handle all your programs | | | | the software is required before you try to go live |
| and trading platform, I suggest 60 GB or larger | | | | and make real trades. |
| 1 MB RAM Memory | | | | • You also need to learn to understand the |
| Windows XP or newer operating system | | | | market to make good decisions about when to enter |
| You may be able to get by with less but may find | | | | trades and when to exit them. Getting this |
| you need to upgrade to get the performance | | | | knowledge is no trivial matter. Professional traders |
| desired. | | | | spend thousands of dollars and countless hours |
| If you are using a different system be sure to check | | | | learning their craft to become proficient. The key is |
| the requirements of the trading platform you have | | | | to get the right training material to learn how to |
| chosen. | | | | make intelligent decisions that maximize your odds |
| One upgrade that you may want to consider is an | | | | for success and minimize your risk. |
| extra monitor. It is not necessary but it is more | | | | |