Online Technology for Better Stock Trading

As a trader, you rely on the ability to get inbound information and send outbound messages. You must know the inside bid and ask at a very minimum. To execute an order to hit the bid or lift an offer, you must be able to send your order to your broker or place it directly in the market through an ECN (INET, ARCA, BRUT, NASDAQ, DIRECT+, NYS-A, NYS-B, AMEX). Knowing how much bandwidth and computer capacity you will need to trade is critical. Therefore, the rule The more bandwidth, the better. As general rule, you should always opt for the maximum bandwidth available. The more bandwidth you buy, the higher the cost. There are three basic types of trading from modest to extensive. If you are only going to be using system requiring only the modest bandwidth requirement, that’s all you should buy. This would be the case for the online investor who makes occasional trades but does not rely on real-time information.
Depending on which software packages are used for decision support, we have found quite a few traders who prefer using multiple monitors. Multiple monitors give the trader increased flexibility to view market data. For example, I like to read a good bit of data and advanced charts at one time since I actively day trade; therefore I have three 24" monitors on one computer with two graphic cards. I know traders who are more active than I am who utilize as many as six monitors. The caution I offer is to avoid putting more data in so will your propensity to absorb data. As this occurs, add additional technology to support the information you require. When trading becomes an integral part of your life, the cost of technology is not a real consideration. In fact, it is one of the cheapest considerations. Consider the trader who trades 50 times per day on average, at an average ticket cost of $5 per trade. In the course of one month, that trader will spend $5,000 in commission. Over the course of a year, this compared to a $8,000 system makes the hardware cost less. Therefore, buy the best technology you can.
Because electronic trading gives you the control of your execution and order routes, it also requires responsibility; therefore, Always know your positions and funds in your account. The Internet is a complex system. Combine this complex network with a complicated broker/dealer network like NASDAQ and the NYSE and you have potential for problems. As you help pioneer the future of electronic trading, your responsibility is to know all your trades and not to rely solely on technology to monitor your trading activity. Traders take this responsibility very seriously since many have learned expensive lessons from ignoring position management. Keeping a trade journal is a natural solution to manually recording trades. Not only do you create another record of all activity, but the act or recording your activity reveals patterns and emotional influences that will help you grow.
Next Level Trading

Forex Trading and Equity Stocks

Next Level Trading Capital is continuously looking for traders who are highly motivated, extremely disciplined and thrive under pressure. We use state-of-the-art trading stations and platforms. This is a very exciting chance to do what you love and make money at the same time. Our firm provides a rare opportunity to make a career out of stock trading. You set your own schedule, no more working for others and become financially independent.

For information, visit our website at NextLevelTrading.Net or Ask2Trade.Com.