Computernoob100 :
I'm shopping for whatever I need to maintain my FPS locked at 120+ at least. Every time I use fraps or whatever capturing program my game lags, FPS drops and sometimes it even shuts down.
First, you STILL haven't told us what graphics card you have.
1) FRAPS uses the CPU to encode the video, which is especially bad since you don't have a great CPU to start with. You then have a lot less CPU cycles for the game and thus the FPS can plummet.
2) NVidia's recording in Geforce Experience uses the NVENC hardware encoder on the card not the CPU to encode video so it may drop the FPS as said by about 5% or so but it will vary a little.
OBS is another solution and you can tell it to use the NVENC hardware encoder. I think OBS can use AMD cards too but I haven't looked into it. There are alternative solutions for AMD though such as AMD RELIVE which uses the VCE hardware encoder the same way NVidia does (so not stressful on the CPU like FRAPS).
*HERE is some more info on recording solutions:
http://www.pcworld.com/article/3040695/software/the-best-pc-game-video-capture-software-5-top-recording-tools-compared.html
3) 120FPS?
That's not going to happen in many games as your CPU isn't that great. Plus, even if your CPU could manage it you would need a very good graphics card or else drop the graphics settings a LOT.
A few games like CSGO can hit higher FPS numbers easily, but you haven't told us if it's a specific game or just games in general.
*If you have a 120Hz monitor I would suggest you concentrate mostly on 60FPS gaming. One way is to enable Adaptive VSYNC (with "HALF REFRESH" option) which will then synch the GPU output to 60FPS max (VSYNC ON so no screen tearing) and disable VSYNC if you can't output 60FPS (which causes screen tear but doesn't add stuttering that you get when you can't meet the VSYNC target).
4) Adaptive VSYNC:
NVidia Control Panel-> manage 3d settings-> ... add game-> (change setting)-> SAVE
(the "half refresh" FPS is half the Hz rate. So 60FPS if 120Hz monitor)
5) There are separate CAPTURE DEVICES that tap off for example the HDMI output but NVidia's solution works great so unless you're really picky I wouldn't bother.
Plus, I'd be saving my money to rebuild the core system (with better CPU).
6) The QUALITY of recording also matters. Most people should look at 1080p/30FPS and experiment with the BITRATE. It depends on the purpose of what you are doing.
7) UPLOADING video?
Very few people can upload quality video in real-time so keep that in mind. Your ISP will tell you how much upload bandwidth you have and it must be greater than the bitrate of the video.
*I think my bitrate for UPLOAD through my ISP is about 500MB per hour so reliably maybe I can upload at 400MB per hour max.
UPDATE: You can get the "Speedtest" app for Windows and it tells you both your download and upload. I just checked and I have 1.6Mbps UPLOAD. (Mega bits per second) which is 200KBps (Kilo Bytes per second).