Get a Dell with Core 2 Duo processor and lots of RAM 1-2GB. This setup should be good for the next 2-3 years minimum. The OS you want now is still XP. For monitor, just get whatever floats your boat at the shop.
I appreciate the feedback so far. What I have is a 1.4 ghtz 512mb ram 15 in flat screen monitor, 128mb graphics Nivida. It is a computer a few years old. I feel my question is not being answered. What does a newbie need to get started. Whay do typical trading offices look like from basic. I basically would like to use as much as I have right now and grow into a full blown trading system with multi monitors.
Go with what this guy said...with the advice of the post below it. You can get good refurbished comps from BB/CC for well under a grand (especially if it's on sale), which will be more than powerful enough. You can probably get by with just one monitor but if you want another go for a cheap 128 meg DH vid card which will allow you to run two. Unless you're some nerd playing quake for money on the internet, you don't need a top of the line video card for trading.
If you want to make it simple, then just walk into bestbuy, buy a cheap dell or whatever fits your budget..and there. Most computers come with enough memory etc.. It doesnt get much simpler than that.
These two questions are completely unrelated. The reason your question isn't being answered (in a fashion a newbie can comprehend), is that the answer depends of what kind of a trader you turn into. For example, if you watch for setups in multiple markets real-time, you will want more screen real estate; if you have multiple programs all running at the same time, (execution program, charting program, trading chat-room, etc) you will need more power; depending on your feelings about emergencies such as your electricity &/or telephone &/or internet connection &/or broker contact failing you may need more redundancy, and so on and so forth. On the other hand, if you're going to research stocks in the evenings and submit orders when the market is closed, you can use the computer down at the library. Also, what you think (at this moment) you will be doing and trading and using, will probably be transformed and evolve as you experience the journey to becoming a trader. As others have stated above, a newbie should spend little or nothing until he can spend it out of trading profits. One cannot emphasize enough the need to keep costs low until if and when trading is profitable (it WILL take longer than you expect). Start with what you have, it's fine. Upgrade as you find that you need more, and can afford more. Don't forget that, as with all electronics, better gets cheaper over time. If you MUST buy a computer now, just get something decent and current, you will still be upgrading it as you find you need more.
Just a FWIW, I don't daytrade but I setup dual LCDs a few years ago. Highly recommended. Sure, you probably don't *need* them, but I can't imagine only having one now. Makes so many things easier. And with my poor old brain, having things open and readily available really helps. Get a couple good 20" LCDs. I bet you will like it! Good luck to all.
http://www.tigerdirect.com/applicat...ffiliateID=4wACJ5K_hyA-ONuPhrKc9lR1JlHPQYNKeA 19", DVI all for 99$ agree with spinner. i just found old Athlon XP1500 in trash few days ago, bought 1GB faster memory, add matrox G450 dual card, that was free after rebate and machine is making money already the difference-i know exactly what i need. don't need big hard drive(50G is fine),lot of memory,because i'm running at least 2 IB TWS's and that's about it. no need for fancy video card either(no gaming,no 3D stuff)
For reliability and simplicity, I'd go for a Mac if I were you. Most of the major trading platforms are Java based so they work just as well on an Mac. These days they all can run windows too, either as a dual boot system or within a window on the desktop, so compatibility isn't an issue. The advantage of a mac is that they don't suffer from viruses or spyware, and are generally far more reliable.Also, they don't need the regular maintainance the PCs do, (defragging, virus checking, fixing driver issues etc). Once you take the maintainance into account, as well as the longer useful life, they actually work out cheaper too. Probably the best trading configuration would be a 15 or 17 inch Macbook Pro, with a separate monitor (ideally a 30 inch one), for when it's in the office. that'll give you all the screen space you need, while remaining compact and portable. (so you can travel while trading).
love that dreamy blue keyboard. just tell me there is a built in television tuner and that the cassette may double as a phone answering machine and i gotta have it.
An Apple store just opened up in our city...they have a computer that has 4 CPU's!!...thats over 10ghz of processing power... however youll spend over 4 grand.