Number of monitors is one of the other frequently asked questions, in addition to the questions like “how much money can I make trading?” or, “can I become a millionaire through trading?”
If you ask an unprofessional and inexperienced person that how many monitors you need to trade, he can easily mislead you and make you waste a lot of money on this.
I have seen this very frequently that when someone decides to trade, the first thing he does is spending several thousands of dollars to buy several monitors with a strong graphic card, or setting up a multi-monitor trading desk. Of course, they can not be blamed, because they are just misled by others. They think in order to trade professionally, having multiple monitors is a must, but this is not true.
It doesn’t matter how many stocks or currencies you follow. All you need is just a 17″ wide screen laptop, or a desk computer with just one reasonably big enough monitor. Having several monitors doesn’t help at all, and it can not make you a profitable trader. Don’t waste any money on these things. Almost all of trading platforms can handle several charts and tile them in different ways. Whenever you want to check a chart, you can maximize it, zoom in and out, and then minimize it and check another chart.
Multiple monitors can help day traders. However, if you are a LuckScout user, then you know that we are strongly against day trading, because we believe that it is a big mistake, and it doesn’t make any money in long and short term. I personally have a laptop that I can take anywhere I go, and I check the markets through it without any problems. I strongly believe that your work environment has to be beautiful and pleasant, but it doesn’t mean that you have to spend a lot of money on it.
The only problem of using a laptop is that you have to bend your neck to look at the laptop monitor and this will create neck pain after a while. This problem can be easily resolve with buying one extra desk monitor, placing it on the desk, and connecting it to your laptop. Then you have to place something under the monitor to bring it a little higher, the way that the top of the screen to be level with your eyes or even higher.
You can use this monitor when you are going to check the charts or sit at the computer for a longer time. If you do so, you will never experience any neck pain. Of course, as we trade the long time frames, it doesn’t take us more than 30 minutes per day to check the charts, however sometimes you will have to sit at the computer for a little longer, and having an extra monitor and using it the way I explained is a big help.
The conclusion is that you don’t need multiple monitors to trade. It doesn’t help you. Keep the work dead simple and you will get better results. The number of monitors doesn’t have any role in your trading business. The too important factor is having the proper knowledge and experience, or as I say almost every day, starting from the right place and following the right track.
A disciplined, knowledgeable and experienced trader can easily make money with a simple $500 laptop, but when you don’t have the knowledge and experience and you don’t follow the right track, then having the most expensive computers and equipment cannot help. It can even make you lose more, because it makes the work more complicated, and complication in trading has no result but failure and loss.
Instead of being worried about the things that have no role in your success, focus on the factors that make you successful. Start from the right place and follow the right track.