In all likelihood, you’ve probably seen traders with multiple monitor setups in the past. You may have even wondered if having so many monitors displaying different bits of data simultaneously is necessary. Do people really need a 6 monitor setup for trading?
These are valid questions to ask. Let’s answer them over the course of this article.
Hopefully, the information here will help you make a decision regarding how to set up your own trading station. Find out if having a multi-monitor setup truly makes a difference by reading on.
To get things started, let’s discuss a common assumption people make about traders. Due to how they’re portrayed in movies and how they’re shown during financial segments on news shows, many folks believe that all traders have multiple monitors running at all times.
That is not necessarily the case.
You can definitely find more than a few traders who limit their number of screens to two. Some will even go through a day of trading using only one screen.
On the opposite end of the spectrum, you can find traders who use more than 6 monitors. They may try to fit as many monitors as they can into their workstation.
All kinds of traders exist so it’s not surprising to see variations in their workstations as well.
It’s important to note that not all traders who only use one or two screens may be doing so by choice. Computer monitors have become more budget-friendly, but not everyone can afford to have a 6 monitor setup just yet.
You also have to account for the amount of space available for the trading workstation. Not everyone has a spare room big enough to accommodate a multi-monitor workstation.
Casual traders may also not have a need for an elaborate setup like that. Trading may not be their entire day. Checking up on the action once in a while via a single monitor may be enough for them.
Other traders simply prefer using a single monitor. They prefer the uncluttered approach and believe that they can glean all the important information from that one screen. It works for them and it’s hard to say they’re wrong for using a setup they’re comfortable with.
Remember that preferences still play a role here. That could explain why some traders prefer to limit the number of monitors they use.
Single or double-monitor setups are preferred because they are affordable and they save space. Those are the main advantages of those setups.
What about a multi-monitor setup then? What do you gain from having multiple monitors running at the same time?
The main advantage you gain is access to a greater amount of information. Relying on multiple monitors allows you to keep better track of the different markets, but that’s not all.
You can also pull a financial report and read through it as you continue to monitor the market. Use the setup to read up on pricing history before making moves.
The multi-monitor arrangement also helps you stay on top of the news. However, there is some debate regarding how much that really matters.
Some argue that watching the news is pointless because the impact on the market will already be felt by the time the information is reported. At that point, it may be too late for you to benefit from what happened.
While it could be true that it may be too late to benefit from the news directly, having that information is still critical. News doesn’t exist in a vacuum. By internalizing that new information quickly, you can then react and adjust your trading strategies for the rest of the day.
You should also seriously consider using more than 2 monitors if day trading is your full-time job.
Full-time day traders often have to make riskier decisions. Put yourself in a better position to make that decision by gathering as much information as possible. You can gather more information faster with the help of more computer screens.
There are clear advantages to using several monitors for trading. However, you also cannot overlook the practical benefits that the setup provides.
For example, looking at multiple monitors is easier on your body. Strains occur when you’re only staring at one spot for an extended period of time. You’ll likely be moving your eyes and head around more if you have multiple monitors to check out.
It may not seem like much, but even those small movements can make a big difference over the course of long trading days.
A 6 monitor setup also makes it easier for you to see the information being displayed. If you have poor eyesight, you may miss some important developments because they appear small on your cluttered single monitor. Make it easier for you to see every little detail by going with a multi-monitor setup.
It’s now time to answer an important question. Will using more monitors turn you into a better trader?
Well, it’s not that simple.
What a multi-monitor setup does is put you in the best position to make the right trades with sufficient information behind them. You don’t have to go in blind and make a risky move because you didn’t have enough information available at the time.
At the same time, you shouldn’t expect the new setup to be some kind of magic bullet. It won’t just display the trades you should be making. You still need to research and prepare adequately if you want to consistently make the best moves possible.
A 6 monitor setup is ideal for trading. It’s now up to you to make the most out of it.
There is no one ideal setup for trading. Even so, there are definitely real benefits from having a multi-monitor setup. You can easily argue that such a setup is well worth the financial investment.
Consider the 6 monitor arrangement when you’re putting together your trading workstation. You could very well find that it’s precisely the kind of setup that suits you best.