How to become a broker part 3

Step two. We get everything you need

First of all, you need a computer, preferably not the one that all members of your family use, but a separate one and designed exclusively for work. However, you can start with any available one, because a new computer currently costs decent money, which at first it might be better to invest in trading. However, in any case, I strongly recommend that you take care of installing a good antivirus package and log in to your desktop.

In the era of IT technologies, a computer that is not connected to the Internet turns into a worthless pile of high-tech hardware used by a couple of percent of its capabilities. In order to be able to fully work from your computer, you need unlimited access to the Internet. Moreover, for a trader, this access should be constant and as reliable as possible. So spend a little extra time and choose a good ISP.

Having dealt with the computer and Internet connection, let's provide ourselves with the most important tool of a trader - a trading terminal. The trading terminal is nothing more than a specialized computer program through which the trader maintains contact, giving orders to open and close positions with the broker, and also monitors the current position in the market (through price charts and news feed).

Almost all modern trading terminals are equipped with a basic package for technical analysis of price charts (a set of indicators and other technical tools), and in addition, they include such an indispensable tool as a strategy tester.

Strategy Tester is a program usually included in a trading terminal that allows a trader to test his chosen trading strategy on historical data. Usually, for such testing, the strategy needs to be translated into a language understandable to the trading terminal (program code).

An important point. Be sure to pay attention to the fact that the installed trading terminal allows you to trade on a so-called demo account.

A demo account is a virtual account opened with a broker and allowing a trader to conduct educational trading with real financial instruments, at real prices, but at the expense of virtual money.

We'll talk with you about the role of the demo account below, but for now let's move on to the third step.