Number of monitors and profitability

Discussion in 'Psychology' started by Pekelo, Oct 3, 2005.

  1. Pekelo

    Pekelo

    I was wondering if adding more monitors really increased the profits what you guys were getting?

    Sure enough, if you are a scalper you need more monitors to help to make quick decisions, but I have a feeling that several times traders just use multiple monitors because they can, or because they want to feel like a real pro, so the advantage is mostly psychological.

    Again, I am asking here traders with less frequent trades. Has your profitability really gone up since you added more monitors to your trading room? Or is it just the comfort level?

    I tend to overcomplicate things, but I have realized that most of the time keeping it simple is the more effective way....
     
  2. Definitely sounds like you are overcomplicating again. I mean why would you waste your time look for a correlation here?
     
  3. simp1

    simp1

    How easy would it be if there was a simple correlation between number of screens and p+l !! I some how dont think things are quite that easy.
     
  4. omniscient

    omniscient Guest

    personally, i have become more profitable and more consistent since adding monitors. but i suspect monitor quanity is a very minor aspect of my progress. it is more convenient and less stressful to have everything i need all laid out. if i traded fewer markets, i could pare it down to a single, 19-in monitor. it is possible, but i don't have up a bunch of charts any more.

    so, essentially, having a multi-montior setup (and i only have 3) i can more easily monitor and trade a few more markets than i might with a single monitor. so now it's easier to apply my evolving progress in more directions.

    hope this helps.

    take care :)

    omni
     
  5. There is your answer. If you are not profitable, you are better off with less info. Master and execute a setup and be consistent with it. Once you have that done and want to watch additional markets for setups or want to expand your inputs, then get more monitors. However, unless you really have a good system, you will find more data means more hesitation, less clarity and more fear.

    Good luck.
     
  6. Thiis is good advice and yet almost everbody ignores it. It is so much fun to arrange and rearrange all the bells and whistles.
     
  7. In other words.... K.I.S.S. !!
     
  8. It' partly an ego thing with scalpers I'm sure but also depends on how many markets you watch. I have 7 screens, 2 for market depth traders (13 markets), bloomberg, reuters, 2 cqg and one for internet but others here have 12. More trading screens and more cqg. If one screen can show you one decent trade it's paid for itself. The more money you make the more screens you can afford, not sure if it works the other way around though!
     
  9. I have to agree with you....whether with a laptop or 4 screens, good traders make money, poor traders don't....don't get bogged down in hardware/software.

    Don
     
  10. Surdo

    Surdo

    I have had my best days trading with my laptop or no computer and just a cell phone from the beach.
     
    #10     Oct 3, 2005