I spent over a year with “style drift” and trying different brokers, computer screen setups and software tools. I am still refining my process to have it free up mental capital. As I refine the process, I will update this post. But as it stands, here is a list of my current trading setup, tools and resources used to trade the markets.
Hardware
- I bought a custom built gaming computer to make sure I had the power and speed to run 3 or 4 monitors and multiple programs.
- My main monitor is a 32 inch LG 4K UHD Monitor I have two other crappy monitors that I plan on upgrading soon
- I bought a gaming keyboard and ergonomic mouse after experiencing wrist pain from normal mouse
- The game changer for long hours at the screens: A standup desk
- I like to listen to music to focus and I also use these speakers for my home DJ setup
Broker, Scanning and Charting
Below I will explain the brokers I use and the layout of my 3 screens when the market opens.
- I predominately trade the ASX. I use Iress Viewpoint for this. I have one screen off to my left with this layout:
- When Crypto is in play, I use FTX (But haven’t had much success)
- Once the ASX opens, I leave one monitor setup to my right in landscape mode with 3 Iress Scanners and the whole market map setup. The scans are for Top Volume, Categorized by top movers. I find this quickly shows me all the stocks in play from Small, Mid and Large Caps.
- The middle screen had Trading View setup to my likings. I have recently downloaded the Trading View software, but have noticed my alerts don’t actually show up straight away, so will stick to the desktop version until I can figure out the fix. I have anywhere between 40-100 Alerts set on Trading View. Most of them are usually days or weeks away from triggering, but I usually have at least 5 or 10 go off in the opening hour. I am still trying to improve my process to be confident in zoning in on the right stocks in play, but as of right now, I am quite active jumping from one chart to another. I also have lot’s of watchlists. I will go over these later on though. My main watchlist is actually my open positions. As I can write on the charts, I try to make sure I am writing reminders to myself so I don’t make any silly trades with open positions.
Pre and Post Market Tools and Scanners
This is the process I am still refining to avoid information overload. But for not, I will list the extra tools I use from most important to least:
- Trading Journal – Something I neglected for far too long. You can’t improve what you don’t track. You must know your numbers!
- Finviz – I like to see how US sectors are performing
- Investing.com – To check on commodity futures and other market moving news
- Twitter – I have a love hate relationship with twitter, but there are certainly some accounts worth paying attention to!
- Market Index – For quickly checking ASX Indeces and other news
- Stockhead – When I want to read into ASX smallcap opinion pieces regarding breaking news
- Smallcaps.com.au – Similar to stockhead
- Ausbiz.com.au – A ASX news streamed radio channel. Not too bad when I want to hear the news instead of read it
- The AFR – I am still a paying subscriber but don’t use it enough
Notable Mentions
Trading is at the very least 50% psychological, so it would be a mistake to not mention the other self improvement efforts I have been working on making a part of my process/habits.
- Getting up early – Early enough to do everything I need to do before focusing on the markets
- Morning Gym or Exercise – Get the blood flowing into the brain, I tend to think clearer after a morning workout
- Tracking my eating – The hardest habit to stick to, this is more body related, but I do find I also think much clearer when I have been eating cleaner
- Reading and reviewing what I read – I have found that reading a book with the conscious thought that I am going to review are present my review to the world, I read the book more thoroughly. Bonus points for reading a paperback with a highlighter in hand!
- Audiobooks and Podcasts – 3 or 4 years ago I fully replaced radio and aimless audio with Podcasts and Audiobooks. Love it! Sometimes I am too sluggish to have a proper workout in the early mornings so I just go for a long walk and smash out a podcast.
- Youtube – I really like watching Qullamagie’s Trading screenshare. He is so wise but also hilarious!