To: Street Walker who wrote (93 ) 2/26/1998 8:11:00 PM From: Zeuspaul Read Replies (1) | Respond to of 14778
Trading Machines.Network..Multimonitor..Refurb DELL/Micron This post is by Ilya k. on the IRS,Tax related strategies--Traders threadMessage 3523391 >> I'm still jet-lagged (and ready for bed) and not sure if you were just being humorous or truly interested in my configuration. I'll go half-way and give you an overview. I've just invested in having an area of the house totally remodeled for trading activity. It is totally soundproof with the ability to dim the lights to a pleasingly low level. It has the capability to have 18 phone connections (because it only cost $300 more than to have just three lines). Ah, the mysteries of telephone companies and their tariffs! While I have several dial-up ISPs, my main ISP is a "two-way" wireless 400 kbs provider (not the "one-way" Hughes Direc-PC), so I really don't need more than a couple phone lines--though I do have a few more for fax, dedicated incoming and outgoing telephone lines, etc. By having dedicated incoming lines plus caller-ID, I know who to during trading hours. All phone lines were done with T-1 copper. (Only a few bucks more than standard copper). The wireless ISP antenna and radio receiver plus install cost about $2K but the monthly rate is only $50 for connect. Under normal circumstances I'd give up a phone line at $30/mo, so the net wireless costs would only be $20/mo plus capital cost for something that runs 2-3X ISDN speeds. Provision has been made for an ethernet/Internet/three telephone jacks /CATV/plus 4-plug electrical connections at each wall outlet not only in my dedicated trading room but in every other area of the house that I had re-wired at the same time. All computer-related electric lines are on color-coded dedicated circuits so that, combined with UPS, I need not fear systems crashes from an air-conditioner that decides to overload a circuit. It doesn't cost a lot when you do it all at once. It is expensive if you do it piecemeal. The special desks, cabinets and carpets are pricey. Could have been avoided but...some indulgences are allowed. I run Track On-Line via telephone on a Pentium 90, 15" monitor. I run AB Watley (and Track On-Line's beta-test MX-NT) on a Pentium 166 with an STB card supporting dual 21" Hitachi monitors. Plan to add two more Hitachis to this system, for a total of 4 monitors. Am installing a Pentium 333 to do some after-hours number crunching, a CPU speed totally unneeded for "day trading" -- but something I wish to experiment with. Had I not done this I would have purchased another 166 or 233 Pentium to separate the Watley and MX-NT programs onto two separate systems. So during the day, this 333 will serve that function. The 333 has a 21" Sony monitor. A second 21" monitor will be added shortly. will probably stick with STB rather than get an Appian card for dual monitor support--if only for standardization purposes. A word on "what's really necessary" IMHO. For day trading I've found CPU speed unimportant. Monitor size is terribly important as is a reliable and fast connection to your trading floor. Watley's server reliability has been a recent disapointment to many of us but, I'll take that up with them at their upcoming West Coast seminars.When Watley works, it is as fast as the dedicated Track On-Line (TOL) connection, sometimes even faster--to my astonishment. The advantage of Watley (and several competing systems) over TOL is that TOL requires that you call your broker to execute a trade whereas the "watley-type" systems require one mouse-click to execute a SOES or other ECN- type trade. Hugely faster and every 1/8th counts. In the important monitor department, I paid full pop for the Sony 21", but I bought the Hitachis"refurbed" off Micron for $995 each. Because I bought the 333 new, the supplier wouldn't let me combine it with a 21" . Something not well known in the PC community is that both Micron and Dell have "refurb" divisions where you can buy demo equipment with factory warranty at considerable discounts. The Hitachis were going for about $1700 each new when I got them for $995 each refurbed. Can't find 21" monitors for much less than that even now, though. I mention this because there is a "dream machine" thread going on elsewhere on SI. Refurb equipment from Dell/Micron et. al. legitimizes the refurb category. Doubt if I would buy the same stuff out of the local classifieds, however. I have a Pentium portable that I am "fixing up" to take with me while traveling so as to be able to day trade from a different time zone. Have a couple of HP laser printers which are indispensable. My inkjet printer is the pits for daytrading because when I need a historical chart--I need it NOW! Was all the above essential to successsful day-trading? Probably not. But the dedicated, sound-proof trading room, redundant systems, etc., do bring about a piece of mind that does seem to make a difference. Waxing philosophical, one can easily spend more than the above on a medium automobile (except maybe for the oriental carpet I have on the floor ), and the car depreciates from minute one. At least, I can deduct its mileage when I head off for some trading seminar -- which is what my original question was all about. Are the thread readers interested in putting together a list of expenses which are deductible by us, if not by "investors." Hope the foregoing made sense, I'm sort of cross-eyed and ready for bed.<<