Hi Bill,

Do I need any particular software and if so what are the specs my computer needs?

Thanks,

Anita:biggrin:

Hi Anita, this is detailed on the website at http://www.onedaywealth.com. I suggest you slowly take a few minutes to read every word on that page to fully get the hang of what you need.

Basically you need an options activated etrade account with the WebIress platform and The Bourse Free trial (http://www.boursedata.com.au/products/freetrials/freetrial.asp?refid=1312) then a subscription to The Bourse.

To submit a question, ask it by replying to this post and I will respond. If it's a question I get a lot I will create a thread to answer it specifically.

Bill, I have watched the Homestudy DVDs and I must say you have done an excellent job. I will get my children to learn the strategy from your DVDs - you have made it that simple!

As I will be attending your option trading course in the very near future, I am just wondering what sort of computer hardware & softwares that I need for trading live on the market. What do you recommend and what do others recommend? Do you use multiple screens or does one screen is satisfactory?

Poni

Hi Poni

From the Onedaywealth.com site:

Requirements:

* A Laptop or Desktop computer,
* An Etrade account with Options activation (level 2 minimum prefer level 4),
* A Power Etrade subscription (Approx $90 per month if not trades are executed - less if you trade)
* A subscription or 14 day trial of The Bourse Data before attending
(Note: If purchasing Bourse - I sign up to the Dynamic Data Plan...approx $30 per week)

So, if a laptop is good, one screen is good I'd say. Hope this helps.

Ryan

Thanks Ryan,
I did not think it was that simple. Are you an intra-day option trader yourself? I just want to make sure that I am well prepared (mentally & equipment wise) for my new venture in option trading.

Poni

Hi Poni, two or more screens make day trading options much easier. At least get yourself one large extra monitor and plug it into your laptop.

You will need a quite fast and up to date computer (preferably with XP but if you have Vista make sure your machine is that fastest you can afford and make sure it is packed with the MAXIMUM amount of RAM possible.

I had an unfortunate experience recently where I was trying to train someone who had a slow computer and very poor computer skills. It held up the whole class and was unfair on the other students.

From now on I will only train superstars who have supreme attitudes, brimming with confidence, don't know how to say "I can't" and own very fast computers and excellent computer operational skills. There is just too much to go into to allow for being dragged down by poor computer skills and slow computers. I can train anyone with enough time but in the three day session I can only allow the best in.

So if you are thinking of getting trained by me make sure you are able to speed around on your computer (do a course or practice with windows a lot) and have as fast a computer as possible. MAXIMUM RAM is a MUST. A second monitor is almost essential as well. Perhaps not for the course but definitely at home. I have three screens and others I know have more but two is the general minimum these days. A 20-24 inch LCD monitor these days is pretty cheap. Any brand will do. I own BenQ (similar to "home brand") and they work just fine.

Hi Bill, What would you class as slow?

I have a HP OmniBook running XP Pro SP2 w/ Pentum4 Mobile 1.6GHz @ 1.2GHz:exclaim: with 512MB ram, runs The Bourse, Excel, etc ok.

I haven't found a reason to upgrade it, as I only use it when on holidays.

I pick up a Dell 24" WS LCD for $289(delivered) about 3 months ago, running @ 1920 by 1080 pixels.

Rob

Hi Robin (welcome to the forum) If you are running XP then your specs are ok (though would be too slow for Vista).

I would remove your RAM and add the maximum RAM your machine will take in matched RAM sticks and set your machine to run at 1.6. Your technician should be able to do that.

The 24" screen should be fine.

Thanks Ryan,
I did not think it was that simple. Are you an intra-day option trader yourself? I just want to make sure that I am well prepared (mentally & equipment wise) for my new venture in option trading.

Poni

Hi Poni, sorry for the late reply, i've been shifting house and had to wait to get reconnected to the outside world :biggrin:

It looks like your questions have been answered since regarding monitors. I personally use one, but can see the benefit of two. A 24" widescreen like Rob has is a pretty good start though. You can get 6 or 8 charts laid out on that with good clarity (depending on your vision of course).

Good on you for asking the questions and preparing yourself.

Hi Ryan,

Thanks for your reply. It seems I need fast window XP in my computer, loads of RAM memory, couples of screens with one big size screen and a good attitude to trading.
Grateful for your help

Poni

Hi Bill,

If we're buying a 22" computer monitor, is 5ms Response Time and 1000:1 Contrast Ratio ok, or would 2ms and 4000:1 be better?
Or doesn't it matter?
Thanks.

Cheers
Doreen

Any old 22" LCD will be fine. If you can afford quality I would say buy it.

Bourse System Requirements
The system requirements for the Bourse Version 6 are:

Component Requirement
Processor Minimum: Pentium IV 1.4 Gigahertz (GHz), or equivalent
Memory Minimum: 512 megabytes (MB) of RAM or greater.
* Minimum 1 gigabyte (GB) of RAM if running Windows Vista or using an On-Board video card.
Hard Disk Recommended: 350 MB of available hard-disk space (for historical data)
Display Minimum: 1024 x 768 or higher-resolution monitor
Operating System Microsoft Windows 2000, Windows XP, Windows Vista
Other Internet Explorer Version 6+ or Firefox 2.0+
Adobe Acrobat Reader 6
Windows Media Player 9 (Recommended Windows Media Player 10)
CD-ROM (if installing The Bourse from CD)

Internet Connection Internet Connection is required. Recommended Broadband.
* Can work using Dial Up, however, users will need to limit the number of Instruments viewed at the same time.

http://www.boursedata.com.au/products/system_requirements.asp

webIRESS Requirements

--------------------------------------------------------------------------------
The client machine should pass the Connection Test as well as meeting the following requirements:

Machine
This product requires a Pentium3 500MHZ class machine with a minimum of 256MB RAM.
Operating system & Browser
Any Microsoft windows operating system supported by the following browsers with Java enabled may be used:
- Internet Explorer 7.0 or above (To download, click here).
- Mozilla/Firefox 3.0 or above (To download, click here.)

Java Virtual Machine
- Sun Java 1.6.0_11 or above (To download, click here)

Note: For Firefox browser users, a minimum version of Firefox 3 is required to successfully run Sun Java 1.6.0_10 or above.

Monitor
At least a 15" colour monitor is required, but a 17" monitor is recommended. Resolution of greater than 1024 X 768 is required.
Microsoft Office Excel
Applies to users who wish to run webIRESS Excel Addin. Minimum Office Excel version is 2003.
Network connection
A network connection quality of a 56k modem or above is required, but broadband is highly recommended.
Firewalls
See Security Information for detail on accessing this product through a firewall.

http://web.iress.com.au/info/requirements.htm

You will need a wide screen monitor for the way Bill shows in his videos.

Rob
:odwrocks:

Hi Bill and all you other IT gurus,

Not being totally computer savvy I would really appreciate
any feedback on this system upgrade I'm contemplating at
moment.

Fully assembled & installed Gigabyte System includes:
^ GIGABYTE GA-EP45T-EXTREME P45,FSB1600,DDR3,2PCIEx16,2xGbLAN M/Board
^ INTEL CORE 2 DUO E7500/2.93GHZ/3MB/1066FSB Processor
^ KVR1333D3N9K2/4G - 2GB 1333MHz DDR3 Non-FCC CL9 Memory ^ Seagate ST3250318AS 250g Sata,8mb Hard Drive
^ 2 X GT220, 1GB, 128bit, GDDR3, PCIE2.0, D-SUB, DVI, HDCP, HDMI ^ LITEON IHAS124-OEM BLACK DVDRW SATA
^ 1 x VIEWSONIC VX2233WM 21.5"W Gloss-BIk/Dvi/Spk Monitor.
This unit will be configured with your license of Windows XP Pro, have dual video cards installed to enable using up to four monitors. This quote also includes installation on site at Pine Mountain Drive.
Total Cost $1599.00

Thanks in advance.??

Seems ok Chris. I would buy a laptop these days though. Something built around 2007/2008 with XP and 4GB of RAM plus a few extra monitors being fed by some USB to VGA High Definition (1900+ resolution) adapters.

Thanks again, Bill for your quick reply.