Advantages Of Trading With A Multi-Monitor Setup
These days it’s all about efficiency and this is especially true when trading. Day and swing traders particularly rely on the fast accurate data that trading computers can provide. It’s not just about their processing power though because it’s also about the 6 monitor setup that these computers can support.
An increasing amount of people are embracing the flexibility of day trading from home. It’s a great way to make money, assuming you know what you’re doing, and it also makes you in charge of your working day. Another great advantage is that markets have very set opening and closing times. That is, unless you trade globally but that choice is yours.
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Advantages Of A 6 Monitor Setup
A 6 monitor setup has many benefits for traders, including these key ones:
- Speed and reliability
- Space to track everything
- Develop while you trade
Speed And Reliability
You must choose your computer or laptop wisely when going for a 6 monitor setup. Not only do they have to have the ports for all the connections but they also have the right processing power. Besides, you’ll need to check that they have a suitable Graphics Processing Unit. This piece of hardware essentially works on all the graphs that you’ll need to be analyzing as a trader. A rule of thumb for this one is to go for at least 3GHz.
If you’re new to trading, you might not realize that companies such as Falcon specialize in trading computers. These come as computers or as laptops with equal power and speed. They have the reliability you need as a trader to update your data points so you can make those investments in virtual real-time. There’s nothing worse than losing money because you’re waiting for your graph to refresh.
Tracking
As a trader, you’ll need to follow many data points. These include various technical charts, market indexes, order flows, amongst others. Also, you might need to follow several charts for many different markets. Imagine how confusing and time-consuming it would be to keep flicking between all those windows?
A 6 monitor setup allows you to organize everything in the perfect layout that works for the way you work. Essentially, map your workflow across your monitors with the things you need the most set up on the screens nearest to you.
Develop While You Trade
This one won’t be for everyone however, some of you might be working on different strategies on one side whilst monitoring markets on the other side. For those who are analytically minded, you might want to try your hand at coding to help your trading. Many traders now use algorithms to buy and sell according to the signals coded in. This could free up your time for more complex trades whilst your basic trades are still being managed in the background. Therefore, a 6 monitor setup gives you the space to do this.
Tips To Maximize Your 6 Monitor Setup Experience
As you might expect, there are things you can do to make the most of your 6 monitor setup with some suggestions listed below:
- Have a strategy – don’t get overwhelmed
- Effective space management
- Focus
Strategy
It might sound obvious but you’d be surprised how many try trading without having a goal or approach in mind. As a day trader, for example, you want to make money on frequent and small price movements. However, at which point are you willing to buy and which to exit? This will be particularly critical if you follow scalping as a trading style. You don’t want to have one large loss that completely dwarfs all the small gains you’ve made that day.
Space Management
A 6 monitor setup needs to have the right layout that works ergonomically. Where do you tend to look the most? Do you want this to get on your primary monitor? you ought to also confirm that everything you’ve got upon your screens is beneficial. Too many charts can hide other charts which could be the difference between a loss and a gain.
Focus
Everyone knows that too much information can be distracting. You’ll got to find your own approach and elegance to assist you prioritize what you think is vital . It’s worth also being strict on removing any extra information that you simply don’t need. Don’t let it distract you from your focus.
Final Thoughts On Trading with A 6 Monitor Setup
A 6 monitor setup can give you a huge productivity boost as a trader. You’ll benefit from increased speed and reliability as well as a large workspace. Make sure you know how to maximize it though with information that’s critical for your trading strategy. Don’t fall into the trap of trying to do it all though and stick to your focus. Then, your 6 monitor setup will be your best business asset as you grow your trading portfolio.
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