Please explain in brief why professional traders use Multiple Screen for trade and What’s its benefits to use it .
All professional traders don’t use multiple screens.
It helps when you want to monitor top index stocks in Multiple TF. If you are trading multiple strategies it helps. Imagine this, multiple brokers, managing family accounts - having different long/short strategies across futures and options.
like the law of diminishing marginal utility, number of screens isn’t proportional to performance
what works for me is 3 screens of 27"
To see MTM in multiple screens. Profits * Screens = More Money
- To monitor multiple scrips from same sector, same indices.
- To monitor spot vs future charts.
- To monitor multi time frame view - 3m,5m,15m,1hour,4hour etc.
List can go on.
I don’t think all traders use multiple screens. If some of them still use them, it is probably because they wish to keep an eye on a number of variables altogether.
Traders who are professional are using multiple screens so they can trade and monitor their trades at the same time. While it is possible to trade and monitor trades on one screen, the odds of making a mistake goes up. A professional trader will always be able to see his or her trades clearly and have multiple strategies that can be used to improve the results.
So that they can look professional when in reality they are not.
I trade with a sub 30k mobile phone. Sub 15k would do equally better.
More indicators, more screen, more blah blah doesn’t guarantee any market edge or market success.
3 monitors set up on a dell desktop tower is less costly than a imac24 or iphone 13
An average trader will go pro in 2 years if scanning multiple time frames together
yep mostly correct. Predominately used by scalpers especially for correlation. Like for example gold and INR are inversely correlated, best way is having two screens. Or say nifty went down and gold is going up having screens helps immensely. Correlation is quite easy with multiple screens. But sometimes its a literal cognitive overload.
Its not necessary. Its just for convenience if you’re looking at multiple things. You can have multiple tabs open if you have one monitor.
It helps them to monitor different charts and trade at the same time. But it is not mandatory to use multiple screens. You can take up profitable trades with a basic smartphone and that is not being unprofessional in any way. Do what fits your budget and invest more in learning.
Most day traders use multiple screens since they need to have access to relevant information at all times without having to open multiple tabs. You need to have a broad view of what is going on in the market by looking at different charts. Also if you are someone who takes up too many trades at the same time then you must be keeping an eye on them. But there is no written rule that a trader must use multiple screens to be professional or successful. Nowadays you can just trust your smartphone and make profits if you have the right amount of skills and knowledge in trading.
For example, if you trade with HDFC Bank, you need to watch the Bank nifty and Nifty50 screens.
This will tell you more about the current market trend.
bro I’d like to know how many screen(s) do you use?
Just one monitor ,because I don’t trade lower TF’s . I stick with 1 hour or 30 mins TF.
But if you are trading lower TF’s along with currency INR pairs, nifty, mcx crude oil , gold mini
& silver micro, multiple screen might might come handy.