Are you curious what a “real” professional day trader’s station looks like? What do you picture in mind whenever you think about it? Is it a small room filled with high-end computers that are attached with interconnecting monitors? Sorry to disappoint you, a real professional trader’s room isn’t even in a fixed location and is far simpler than what you think.
A real professional’s trading station is portable – Curious as to what kind of portable device that is? Yes, a laptop! All they need is a high-performing laptop, high-speed internet connection (Wi-Fi preferably) and their trading software of choice. Marcello Arrambide -founder of The Day Trading Academy (to name one) prefers it this way since he loves to travel around the world. He’s been reported trading on top of ping pong tables and refrigerators from the most remote places of South America (wasted and all). This clearly proves that experience is the most powerful trading tool.
Devoid of sophistication – Ask any professional trader and you’ll be surprised to know that they don’t use high-end software, indicators and such whenever they trade. This is the biggest misconception about day traders! Most of them only use the most basic tools necessary to trade! Adding more salt to the wound, only 3 simple indicators that keeps track of volatility and momentum is all they need. So if ever you encounter some “self-proclaimed” professional trader and encourages you to buy his/her recommended software/programs/indicators –you know what to do. Truth be told; all kinds of trading programs, indicators and the like functions the same, so why buy them if you can get it for free online?
Now that you know what a “real” professional day trader’s station looks like, would you still consider buying expensive trading stuffs? Have you watched movies that are related to trading like: Wolf of Wall Street, Boiler Room, Margin Call, etc.? Do you see their trading stations buffed with software and such? No because their indicators back in the day are called “phones” and a deep understanding of how the market moves! I’m not saying you should forget all about our modern day’s trading tools, what I want you to understand is that “learning how the market works” still bests any kind of trading tools.