How to Set Up Your Trading Screens?

Modern markets are evolved into vastly complicated organisms with thousands of data points competing for attention. This information is flooding into an efficient set of charts, tickers, indexes, and indicators that are supporting profit objectives. Part of this task requires observation of broad market forces, while the balance demands a narrow focus on specific securities used to execute strategies. Trader desktop has real-life jobs and responsibilities away from home, forcing them to access the markets through pint-sized smartphones, gathering the information needed to assume the new risk, and manage open positions to a profitable or unprofitable conclusion.

Trading from Screens

  • A fortunate minority sits at home or in a proprietary shop and trades full time. These folks are needed more detailed on-screen information because they are assuming greater risk. The additional data is covering the same territory as the remote participant but in far greater detail.
  • Besides, these traders need to set aside space for the incubation of future opportunities, with a focus on market groups not currently being traded.
  • Trader desktop is making sense to add as many monitors as you can fit comfortably in the space set aside for the function, while not exceeding your budget or your ability to promptly analyze the information you put on them.

Building Effective Trading Screens

Generally speaking, traders do a poor job capturing the three types of information needed to support a comprehensive visual analysis such as market observation, position management, and incubator. It can be costly in an active trading style. Nearly all traders have made the most common mistake at some point in their careers. Reserve charting for must-watch tickers are a second group set to different time frames that are linking to a single symbol from the watch list. Specific time frames are utilized for this analysis should match your market approach. there are following settings offer a good starting point:

  • Scalpers: 5-minute, 15-minute, and hourly charts.
  • Swing Traders: 15-minute, hourly and daily charts
  • Market Timers: Such as hourly, daily, and weekly charts or daily, weekly, and monthly charts
  • Must-have charts may include the following:
  • S&P 500 futures or SPDR S&P 500 Trust (SPY) set to 15-minute time frame
  • Nasdaq 100 Futures or Powershares QQQ Trust (QQQ) is setting to 15-minute time frame
  • VIX – CBOE Volatility Index (VIX) is setting to 15-minute time frame
  • 24-hour 15-minute charts of market-moving securities are including Apple Inc. (AAPL), SPDR Gold Shares (GLD), and the US Oil Fund (USO). You can check more stocks like nysearca spy at before investing.

Disclaimer: The analysis information is for reference only and does not constitute an investment recommendation.