February 11, 2011
Day Trading Computers and Using Ninja Trader 7 Charts
– Keeping your trading computer clean and working perfectly for trading
o You don’t need some high priced super power trading computer
o Most new cpu’s out of the box are perfect for day trading.
o Most important things: RAM, Processor, Video Cards, Monitors and Mouse
o I save money with a small hard drive and I keep everything saved on NAS Drive (Network Assisted Storage)
o When you buy things for your cpu, don’t buy the top of the line, buy the product just below the top.
o Make sure this computer has the BEST ANTIVIRUS and don’t download things you don’t need (ESET NOD32)($40)
o Music/unknown files/random web offers
o Firewalls need to have your charting software approved so it can access the internet.
o Software: MS Office (spreadsheet (Open Office)), SnagIT (screen capture software), webcam and skype so you can work with me as a client.
o NinaTrader Charts
§ Charts wont load:
· You may not be connected to the market
· Corrupted workspace file. Delete the OLD workspace file and replace with your backup copy. (Quick Start Guide)
§ Charts are jamming
· Your connection speed may be too slow
· Make sure your connection gives you REAL TIME (not filtered tick data, example, Interactive Brokers uses filtered data, our charts won’t run)
· Slow down the update interval on your time and sales window
o Properties of the time & sales window, increase the update interval
· Trying to do too much with a computer that cant handle the load
· Press CTR+ALT+DEL and see how hard your cpu is working in the task manager. Anything over 30% is too much! Your computer is struggling to keep up.
§ Charts close on me (error message)
· Close out NT
· Re-open NT
· Tools/options/data
· Repair My Database
· Reset instruments
· Re-start NT again
· I do this every morning before I trade.
§ Market disconnects
· Call your broker first with any issues on trades you were currently in.
· If this happens often, invest in a back-up plan.
· Back-up internet connection
§ Indicators wont download
§ Clear your web browser cache/cookies, browsing history and try again
§ Close the browser
§ Open it back up again
§ Try a different web browser. Try Mozilla Firefox, it’s the easiest to use for downloading.
– 2 WAYS to manage your trade
o Standard & Discretionary
o Standard = always use the same first two profit targets, and use a runner for the 3rd target. Stop is always the same as well.
o Discretionary = no set targets or stops, we use the market S/R as our guide.
