URGENT: READ ASAP!

Technology Health Check-List For Traders & Investors

LAST UPDATED ON: 10-19-2022

For QUESTIONS on technology contact Mark via email at support@traderscoach.com 24/7 any time day or night.

SECTION A.) CHECK DATA FEED SPEED

  • 1.) CHECK YOUR CHARTING PLATFORM DATA FEED REGULARLY - Some of our clients have been experiencing "throttling" or "slowing down" and "down grading" of their free data feeds. For example on both TradeStation and TD Ameritrade recently, clients have been unaware that what had previously been a "real time" free data feed, was converted to a delayed data feed without them being notified. In some cases, historical data range was shortened as well.
  • 2.) HOW DO I CHECK MY DATA FEED? If you find that suddenly your "data loading" becomes slow and it takes your charts forever to load, then chances are your data is being "throttled" by your broker. Recently it seems most clients have discovered their data was not "real time" when their charts didn't match Bennett's charts during webinars ... and ... some of our Yummy Room traders also found out by comparing charts with each other. We suggest you attend a live event and pull up your charts and compare with the presenter to see if the charts are off. We have live events daily, Client Support on Wednesday, SAF YouTube on Fridays, and Yummy Room every day.
  • 3.) IMPORTANT NOTE ABOUT DATA FEEDS - Intra-day data feeds can and will vary from data provider to data provider. This is because their servers can be slightly different during real-time data processing ... and ... because each data provider delivers based on their own band width. All data providers are NOT created equal, some are just faster than others. This speed can vary from time to time for a variety of reasons. We have had a number of clients conduct side-by-side testing between different providers to prove this. Also charting platform settings can vary as well, producing different results. Regarding charting platform settings, be sure to refer to your instruction videos or ask Bennett during his weekly Client Support Workshps. The bottom line is that - even if your data is not being "throttled" sometimes comparing your chart to someone elses chart can produce a different result.
  • 4.) HOW DO I FIX MY THROTTLED DATA FEED? In the cases we are aware of with both TradeStation and TD Ameritrade, all it took was a phone call to the vendor, and they turned the "real time" data back on.
  • 5.) WHY IS THE DATA BEING THROTTLED NOW? We've seen this happening more frequently, and it most probably is due to the high cost of "real time" data. By only providing "real time" to clients that go to the trouble of asking for it, they save a lot of money. Think of it like when you go to a restaurant now, you have to ask for a glass of water. In the old days, everyone got a glass of water in restaurant whether they wanted it or not. This is the "new normal".
  • 6.) PAID DATA FEEDS - If you are paying for your data feed with eSignal or Kinetick for example, chances are they will not "throttle" your data. But, just to be safe, best to check periodically as outlined in #2 above.

SECTION B.) PERFORM UPDATES WEEKLY

  • 1.) OPERATING SYSTEM UPDATES - Most of you already do this, but ... you would be amazed at how often our technical support technician finds that clients have sometimes never done their Windows updates. This is bad for your computer health and very bad for your trading health. IMORTANT: Many of the cumulative major updates must be done manually. Remember to Update, Update, Update!
  • 2.) BROKERAGE & CHARTING PLATFORM UPDATES - Once again, you probably already do this ... but if you were unaware that this is needed, Update, Update, and Update some more!
  • 3.) DON'T KNOW HOW TO UPDATE? If you do not know how to update your operating system either pay us to do it for you with Platinum Care, or pay the "GEEK SQUAD", or get your kids, or neice or nephew to do it for you. As NIKE says, just DO IT!
  • 4.) WHAT HAPPENS IF YOU DON'T UPDATE? Well, let's just say it is not pretty. Your computer will get very slow, and the functionality will suffer. Things that used to be so easy will be harder and sometimes everything will lock up and freeze. And, Mark's favorite (he's our software technician) is that when a client hasn't done any of their updates ... it can take hours ... and in some cases days ... for the updates to process and complete. As the saying goes, "... a stitch in time saves nine...".

SECTION C.) SLOW CHART LOADING CAUSES {AND} THE SOLUTIONS

  • 1.) WINDOWS/ MAC PARALLELS OPERATING SYSTEM UPDATES NOT INSTALLED - Solution - Install all updates weekly. If you have not done this for some time, do not be alarmed if it takes many hours to process. Patience is a virtue. The payoff in speed will be worth it.
  • 2.) CHARTING PLATFORM UPDATES NOT INSTALLED - Solution - Install all updates weekly. And, refer to #1 above.
  • 3.) USING A WIRELESS INTERNET CONNECTION (HARD WIRED INTERNET CONNECTION RECOMMENDED) - Solution - When live trading only use a "hard wired" internet connection. Do not take a chance on "wireless" no matter how fast you think it is.
  • 4.) THROTTLED DATA FEED - Soution - Test your data feed and if you find it is throttled call the provider and have it restored.
  • 5.) TOO MUCH DATA LOADED, TOO MANY SYMBOLS, HISTORY, ETC. - Solution - Limit the number of symbols and history you load on your charts. Less is more.
  • 6.) USING INTRADAY CHARTS WITH UNUSUALLY LENGTHY AMOUNTS OF DATA HISTORY - Solution - When day trading you do not need historical data that goes back to 1999. Again as above, less is more.
  • 7.) TOO MANY BROWSERS OPEN AT THE SAME TIME DRAIN THE SYSTEM - Solution - When you fail to close browsers that are not currently needed, you will see a significant slow down of your system. Do you really need 20-browsers open at a time? Again as above, less is more.
  • 8.) OLD & OUTDATED COMPUTER WITH LOW MEMORY & WEAK CPU PROCESSOR - Solution - As of this writing the recommended specifications for your system are: a.) Latest I-7 Chip or better; b.) 16 Gigabytes Memory or better; c.) 1 Terabyte Hard Drive or better; d.) Hard Wire Broadband High Speed Internet.

SECTION D.) BEST COMPUTER FOR TRADERS

  • The BEST trading computer is not determined by the brand you purchase as much as it is about the "specifications" you select.
  • And, it's not even about how much money you spend on your system ... although ... some boutique trading computer firms will have you believe you need to spend a lot of money. Truth be told, you can ususally go to COSTCO and get an awesome system that is the best bang for your buck.
  • Refer to "Section E" for our recommendations for the best specifications for a powerful enough computer to trade with.
  • Also, regarding monitors ... as the saying goes "If you can't make money using one monitor you won't be able to make money using ten monitors." Although having nice "real estate" in the monitor department is not a bad thing.If you have questions about video cards and monitors contact us.
  • NOTE FOR MAC USERS: most traders tend to have a Windows operating system since the software we use is Windows based. With that said, we have many MAC users that trade with a "Parallels" interface that works well. See below for more information.

For MACINTOSH USERS you can use "Parallels" to run Windows on your MAC computer.  Click here for more information.

SECTION E.) SUGGESTED COMPUTER SPECIFICATIONS FOR TRADERS

  • As a trader you need the best technology you can afford. Below is an outline of items (a) through (e) of what we recommend.
  • a.) Latest I-7 Chip or better.
  • b.) 16 Gigabytes Memory or better.
  • c.) 1 Terabyte Hard Drive or better.
  • d.) Hard Wire Broadband High Speed Internet whenever possible.
  • e.) Battery Backup for unanticipated power outages, brown outs, etc.
  • f.) Macintosh users will need to use "Parallels" software for running Windows. It's an excellent solution for MAC users.

For MACINTOSH USERS you can use "Parallels" to run Windows on your MAC computer.  Click here for more information.

SECTION F.) WHEN ALL ELSE FAILS ...

  • REBOOT your computer, when all else fails. Sometimes your computer just needs a fresh start and this might do the trick.

For QUESTIONS on technology contact Mark via email at support@traderscoach.com 24/7 any time day or night.