In any profession, a person’s skills and experience are always the most important factors in ensuring that the tasks being performed are carried out correctly. However, a big factor that can help or hinder this process is the tools available. In the world of financial trading the same applies and a trading laptop is essential.
Best trading laptop
You may have all the experience and knowledge to be a professional level trader, but if the tools you use are not up to par, your overall results can be very unprofessional. Therefore, the two most influential components that any professional should consider for their laptop are software and hardware.
Having already covered the different trading platform options in a previous article covering the main software considerations, in this article we will focus on what is recommended and necessary for your device.
Characteristics of a trading laptop
In terms of selecting the type of device to use, there are a few main options: phones, tablets, desktops and laptops.
However, if you have ever tried to analyse charts in detail or execute multiple trades at once on a phone or tablet, you have probably also realised that they are a highly inefficient option due to screen size, processing power and a host of other drawbacks.
Consequently, professional traders always opt for the latter two, with the laptop being particularly practical as it allows for mobility and is often the most cost-effective option for your trading laptop.
With these considerations in mind, we can begin to break down the most important features to consider when selecting the right computer for your needs.
Hardware components for a trading laptop
When buying a new computer, regardless of its purpose, analysing and comparing specifications can certainly be a tedious task, especially if you are not sure exactly what you are looking for or what all the different specifications mean. That said, our aim here is to give you a basic understanding of these factors so that you know how to go about your search.
Below, you’ll find a list of some of the components you should pay most attention to for your trading laptop, as well as an explanation of the importance of each and what exactly you should be looking for.
Central Processing Unit (CPU)
The first thing you will want to consider when looking at the specifications is the processor (CPU) that runs the computer. To give you an idea of its functionality in simple terms, the CPU is essentially the brain of the computer. This component is separate from the computer’s memory, but works hand in hand with the RAM to perform calculations, as well as to manage the movement and storage of memory. In turn, the processor is a huge factor in terms of the speed at which the computer can execute operations as well as the number of operations it can handle at once.
Speed and processing power are of crucial importance to ensure a smooth process in running the trading platform along with any other software required for your day-to-day operations. Now of course there are a multitude of options when it comes to processors, but as a general recommendation a CPU with at least 4 or more cores and a minimum speed of 2.8GHz would be ideal. CPUs such as the Intel Core i5 & i7 are a good reference to have in this regard.
RAM
Having referred to the CPU as the brain of the computer, RAM is essentially its short-term memory. Unlike hard drives, which store all the data needed for later use, RAM stores all the current information relevant to the programs that are running at any given time to provide quick access and, as a result, fast response times.
Therefore, considering that traders often need to have multiple programs running at the same time, and running efficiently, having an adequate amount of RAM is absolutely necessary. To be able to handle all this multitasking, the minimum amount that any trader should look for in a computer is 8GB, but preferably at least 16GB. Again, this depends on the degree of multitasking that takes place, but it is always beneficial to have a higher overall efficiency that is used sparingly than a lower efficiency that possibly pushes you to your limits.
Monitors
Moving on to the components hidden underneath our computer cases, another attribute to look out for is the part we all spend the most time looking at in the first place: the screen. Thanks to how far computers have come over the years, most of the screens you’ll come across are likely to be sufficient in terms of picture quality, but, in addition to this feature, there are other things to consider for your trading laptop.
Monitors for trading
Starting with the simplest aspects, screen size and resolution are likely to be the first things you notice. It goes without saying that the larger your screen, the more detail you should be able to see immediately, and in turn the resolution should complement this to ensure that clarity remains consistent and at a high level. In terms of specifications, there is no ideal size recommendation as this is largely dependent on personal preference and also becomes a big disadvantage in terms of portability if you are looking for a laptop. However, there is a general recommendation in terms of resolution, which should be at least 1080p. Note that this is only a minimum and if screen clarity is of great importance to you, there are certainly options that provide incredible visual quality.
Finally, if you are buying a laptop specifically for the purpose of stock market investing, chances are you are a fairly active trader and will be multitasking on a daily basis. That said, while the above specifications are still important, another factor you will probably want to consider is the ability to connect external monitors. It is important to consider this before purchasing your computer to ensure proper compatibility in the future. That is, taking into account the number and types of ports your computer has will determine how easily you will be able to connect external monitors, or conversely what types of adapters you will need to purchase to do so.
Conclusion
Becoming a successful and profitable trader can be a difficult task in itself, but choosing the right tools for the job should not be as difficult as choosing the best trading laptop. Considering the importance of the features detailed above, as well as the specifications to look for, you should have a much better idea of the criteria needed to evaluate the various options out there.
Also, bearing in mind that many websites you will come across will market their devices as trading computers, or specialised for that purpose, it is important that you know how to differentiate the marketing sales pitch from the actual facts in order to make an informed purchase. This is not to say that these advertisements are absolutely false, but that the degree of “specialisation” can be exaggerated and misinterpreted if the reader does not have a good understanding of what all the specifications mean. As long as you have a good understanding of all these factors, you should be ready to start your search with confidence.
