To be successful as a day trader, you need equipment that lets you access and act on trading information quickly, software that lets you keep track of your trades and analyze your performance, and a brokerage account through which you can execute your trades. This list gives you guidance on what to look for when selecting each of these things:
A PC with a good monitor: Most personal computers sold today have the processing power to handle day trading. Because you’ll be spending a lot of time in front of your computer, do yourself a favor and get at least one large flat screen monitor that enables you to have at least two windows open at one time.
A second PC: No matter which brand of computer you buy, you’re subject to mechanical or software glitches that can shut you down. For this reason, have a duplicate of your system on a laptop or second PC so that you can switch over quickly if you need to.
High-speed Internet access: You need a fast, reliable connection of at least 4 megabits per second.
Spreadsheet software: Spreadsheets help you track performance and analyze returns. Although other software packages can work, Excel is the standard. So if you still haven’t figured out how to use Microsoft Excel, you now need to.
An online brokerage account: Several brokerage firms specialize in the needs of high-volume traders. They offer online access, real-time quotes, backtesting and other analytical services, and low commission to those who make many trades.
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Source:http://www.dummies.com/how-to/content/equipment-software-and-brokerage-accounts-a-day-tr.html
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