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Things You'll Need for Successful Stock Trading

If you’re just getting started at stock trading, some of the basic tools you’ll need are:

  • A stock trading computer with decent processing speed, preferably two monitors (or more) and a video adapter card to run them. Check with your favorite IT person if you’re not familiar with hardware setups or, if you’re comfortable doing so, search online where the information on how to set up two monitors is readily available. Flat screens are great because they take up less room on your desk and the pricing has come down quite a bit. A quick search on NexTag.com came up with a 17” monitor as low as $99.
  • A color printer. It’s so much easier to read a printed out chart in color.
  • A high-speed internet connection. Either DSL cable or wireless.

  • MS Excel or some kind of spreadsheet software to calculate trading data and for tracking your trades.

  • An online chart service that you’re comfortable using, gives you flexibility in chart presentation and provides access to the indicators you track (and even some you don’t, because as you continue to learn, new things will come up and you’ll want to check them out). Your online broker should also provide some access to customizable charting.

  • An online screening (for fundamentals) and scanning (for technicals) programs. As for the scanning program the best and easiest one is one that interacts with charts. Again, some online brokerages will provide these programs.

  • A good calculator of a decent size to make quick calculations.
  • An open account with a good, online stock broker that suits all your needs See more about online stock brokers in the page online stock brokers.

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