Arm
You always make good points, thanks.
In trading concentration is a big edge, it's really the secret I believe. Give me top concentration and a weak method and I'll outperform anyone with a top method but weak concentration. My trading station is therefore designed with increased and more sold concentration in mind.
Over the last few months I've dropped my time periods in trading so whereas before 20 minute charts was the lowest I went, now it's 1 minute. I look at 3 currency crosses, EUR-USD, GBP-USD and EUR-AUD in 1m, 5m and 20m charts. All relate to each other and it's important to have them all on the screen at once.
However, whereas in the 20m world things don't move that fast in the 1m/5m world they can. Where I am having problems right now is my brain is getting confused when I say have the EUR-USD charts on my 2x27" screens and then flick over to say GBP-USD. The 2 very different pictures take time for my brain to reconfigure. Then I click to the other cross, EUR-AUD and the same thing happens.
So by having 3 screens (I'll get on to the other 3 in a moment) I feel my brain won't get scrambled as much as the charts will all be there right in front of me, all the time. For me, thinking and strategizing is very important and it can often take many hours of watching things develop before I do something later on in the day. Markets can be very subtle, the moves can take time to setup so by having the charts available all the time I believe that will be an edge worth investing in.
Right now I'm using 2x27" monitors but because large charts are an advantage I can only have 2 on one monitor and the 3rd on the other (each chart is about 27cm square). By having a 34" wide screen I can now have all 3 charts (1m/5m/20m) on the same monitor (27cm square). Yes, I'd like to save money by having the 29" monitors but that would make the charts smaller and you have to go bigger whenever possible.
So if I'm only looking at 3 crosses where do the other 3 monitors come in? In the FX markets the different crosses are all quoted in a traditional way, so it's EUR-USD rather than USD-EUR. However, there's nothing wrong with USD-EUR, it's just a mirror image of EUR-USD. In my trading I'm far better on the long side (buying) than the short side (selling, expecting lower prices). Therefore by looking at the markets from an always long perspective it again helps with my concentration. So above my EUR-USD charts on one monitor I'll have the reverse, USD-EUR. Looking at the reverse is a massive edge for me because even though it's the mirror image it just looks different. The reverse charts are also a big money saver for me, so many times I've wanted to trade the EUR-USD long but a quick look at the USD-EUR shows this to be a weak trade. In trading it's often a case of not who makes the most on profitable trades but who loses the least on losing trades. Sort of like football, if you have a strong defence goals are worth far more because you go 1-0 instead of 1-1.
As for the Graphics card I've ordered you could well be right Arm and I should have gone 2x Firepro 4100w. I did it to save about £50 and in the past when I've tried to save money (on all sorts of things) the decision has often cost me. However, I am confident things will work out but I'm ready for any problems. Fortunately my cousin is head of IT at a nearby school so I can always ask him for any help. The other alternative if things don't work out is to go the Firpro route.
Also relating to concentration I've bought a sit-stand electric desk for just under £600 (
Conset 501-29). I'm not a morning person so I believe standing in the mornings can only help with my concentration. Even though I get a minimum of 8 hours sleep a night I still feel dead for the first 3-4 hours. Anybody who's not a morning person will know this feeling. So the whole setup (monitors + desk + standing) is designed solely for increased concentration. However, multiple screens in trading have to be used properly because too many lead to distraction and lack of concentration as they are too many things going on and your mind is pulled multiple ways. But my screens are there for a reason, not to be flashy, but for better concentration. Will it all work, I'm confident it will but at the same time I don't know for sure so time will tell.
When I build everything here I'll list some photos and tell you all how it's going (if you're interested that is!).
Thanks everyone for your help, you've all educated me on tech. And all of this proves one of my long term sayings - the internet biggest secret lies in the Forums.
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Arm, you're right about the charts and not having that much visual detail. Mine are even more simpler than most in that I don't have much apart from the bars and a simple line. LG does a cheaper model than the 3440x1440, the LG 34UM67 at 2560x1080. Cost is about £350 versus £500. The resolution question is one I'm still struggling with and I don't 100% understand (somebody said you have to see them both to understand). In your opinion do you think the cheaper one would be more than adequate for my needs?