Reply to External Hard Drive - 2 Traktor PC's

This may be a stupid question. And I'm really just trying to confirm my theory.

I currently have all my music on an external hard drive. Also on the same drive I have My iTunes library files. What I do with iTunes is hold shift when opening and point it to the hard drive library file. This allows me to sync my iPhone and all my music to one library so no matter what (or who's) PC I am using I have my music. This works for iTunes so long as I close iTunes before moving the drive to the other PC.

I want to be able to do the same thing with my Traktor collection, settings, mappings etc. This way I can use my desktop to manage my tunes, beatgrid tracks, and so on but still be able to take that hard drive to my laptop and DJ from it as with all the new changes I've made.

Do I just tell Traktor where the files are in the folder settings?

What should I copy to the hard drive?

I use windows on both my laptop and desktop.