7 Biggest Mistakes Traders Make When Buying a Trading Computer
Hi everybody. This is Eddie Z from EZ Trading Computers, and you are watching my educational video series on how to buy a trading computer.
My goal in this series is to educate you, inform you, and hopefully save you close to a thousand dollars on your next trading system.
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Did you know that over 70% of today’s full-time traders fail to make as much money as they could because they are running old computers and old operating systems such as Windows XP and Vista?
These old systems can create a tiny lag in market data, and the high tech, high frequency traders are eating your lunch.
Most traders don’t realize that the mainstream processors from just two years ago and low levels of RAM can’t keep up with today’s mega-levels of data flow. This leads to stale market data and something called slippage.
Slippage is when you enter an order, but the price you get filled at is significantly different from what you expected. Even just a half-second delay can throw off your entire trading system.
This is mistake number one, trying to trade on an old outdated computer system.
The second biggest mistake I see traders make on a daily basis is trying to trade with a laptop computer.
While your laptop may seem fast in loading web pages and connecting to the Internet, you have to realize that the electronics in these machines were designed for miniaturization, not power and speed.
Additionally, you are limited by one monitor and a touch pad. I don’t care how fast you think you are with your finger on the touch pad, you will never compete with how fast you can navigate on a mouse.
So lack of processing power and constant clicking from window to window with a lack of navigation speed can seriously affect your results.
The next big mistake I see traders make is trying to save money by going down to a local retailer like Best Buy, Fry’s, or Micro Center.
When you go into these stores, you’re basically on your own. Do you really think these kids who work there understand what your needs are as a trader?
You’ll probably be drawn to the lowest price machines, and you’ll wind up walking out the door a little bit confused with a computer that is not cutting-edge technology.
Remember, trading is a profession and a skill. You wouldn’t see surgeons buying their instruments at Walgreens, or a professional tennis player buying his tennis racket at Walmart.
Another mistake that goes with the previous one is buying a mass-manufactured machine like an HP, a Dell, or an Acer, and thinking you’re getting quality. The thing about these companies is that they use lower quality components they can buy in bulk.
You have to realize that as traders, we are very heavy computer users, much heavier than the average user. We need the highest quality, fastest computers around. We need the Mercedes Benz of computers. HP and Dell are like Dodge and Chevy.
Another thing to consider on these mass-manufactured machines is that they usually only come with a one-year warranty and their tech support. When was the last time you tried calling Dell or HP’s tech support? I think you know what I mean.
Next mistake. Not having backup systems when the inevitable happens. What do I mean? A power outage, an Internet outage, or a power surge.
As a full time trader myself, I can tell you that when something interrupts your data flow and you’re trading a position, it’s a very frustrating experience to have the Internet go out or the power go out.
Simple things like a battery backup and a redundant Internet connection can solve this problem.
Another huge mistake I see guys make is not doing enough research into finding out what kind of technology they need. Instead of going to Best Buy, they wind up at some super-slick website, buying a trading computer for thousands of dollars more than they need to.
Believe it or not, there are companies out there that are selling trading computers and taking advantage of your lack of knowledge. I recommend you educate yourself so that you do not get ripped off, either.
Undoubtedly one of the absolute biggest mistakes I see traders make constantly is not realizing the importance of keeping a calm state of mind while trading. If you haven’t already heard, at least 80% of being a successful trader is your psychology, your state of mind.
If you get pissed off at your computer or a bad execution, you’re going to trigger your fight or flight response. I promise you’re going to make bad decisions and fatal trading mistakes. The last thing you want is having a computer-related issue trigger you.
Let’s really get into it now and talk about the most important components of a great trading system. They include the processor, the motherboard, RAM storage devices, the graphics cards, and the backup systems.
Don’t forget that, as a trader, you never want to skimp on processing power and speed. The processor is the engine of the computer. If you’re running around in a 4-cylinder engine, you’re going to have problems accelerating onto the highway.
For traders, the 8-cylinder supercharged engines these days are the processors known as the Intel® Core™ i7, the Intel® Core™ i9, and even AMD’s latest processor called Ryzen™.
As of this video, the absolute minimum processor for traders is AMD’s brand new Ryzen™ 2400G processor. It has 100% more processing power and speed than Intel’s first-generation i7’s had just a few years ago.
Anything less than this processor and pretty soon the rest of the trading world is going to pass you up.
So here are my top recommended processors in order: the AMD Ryzen™ 2400G, the Intel® Core™ i7-9700K, and the new grand champion of processors: the Intel® Core™ i9-9980XE. This is the fastest consumer processor we have ever, ever tested.
A great place to learn more about processors is by visiting CPUbenchmark.net, and then click on High End CPU’s.
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Until the next video, I’d like you to finish reading Complete Guide to Trading Computers.
Also, I’d like you to go to the other trading computer websites and price out a trading system. Then come back to my site and compare the prices. I think what you’ll learn is that I have the highest quality systems at the lowest possible prices.
To see all the EZ Trading Computers, please visit eztradingcomputers.net and don’t forget to bookmark that page. That’s www.eztradingcomputers.net.
And lastly, I want you to know that I’m always available to answer your questions by chat, email, or calling me at (800) 387-5250.
Thanks for watching and I’ll see you in the next video.