Is that a trade setting up? No… where was I? Ok, focus. One single forex trading screen is plenty. Gluing your eyes to a single chart on a single computer screen — makes it easier to block out distractions coming from unnecessary charts. If a trade looks to be setting up, check other timeframes and correlated pairs, run through your trading plan and decide on a course of action. If necessary, shift to financial reports, economic data and breaking news.

I have the ability to block out peripherals until a trading decision is made, only then will I allow distractions to come into view. I also use my other monitors to join in the conversation within our trading room or read up on the latest analysis from my advisory services.

Interestingly when I travel I happily and successfully trade currency pairs from my laptop without issue with just one monitor. In fact, many traders trade the forex markets and stocks with one high-resolution monitor. How often are your eyes darting between each chart and monitor? In my experience, multiple screens normally make traders less efficient and more prone to over-trading.

By using multiple connectivity options, some traders tend to lose focus in the markets, and somehow increase the risk. So, it is crucial to choose one of the best monitors out there in the market preferably ergonomic monitors , set it up so you have more room for as many charts as you need, and take advantage of trading financial instruments at the same time.

What do you trade on? Please feel free to share pictures inside our forum. There are some impressive PCs out there I must say! Try Live Forex Trading Room now for just 7 days free and gain access to:. Learn more. Daily Live Streams , Forex Signals and much more! While it was first designed for stock trading, the Elder system can be used in forex, futures, commodities, and cryptocurrencies.

The Alexander Elder trading strategy also known as the Triple Screen trading system was revealed to the general public in the Trading for a Living Alexander Elder book.

As you can probably tell, the Alex Elder trading rules involve the use of multi-timeframe analysis. The first screen starts with higher degree time frames and subsequently we downgrade our time frames lower as we progress with the 3 screens.

Learn the advantages that come with trading multiple time frames HERE. Now, let's get into more details and learn how Dr. Alexander Elder has taught the three-screen method n the New Trading for a Living by Alexander Elder book. The entire audiobook is available here and takes about three hours to finish. Below, we will break down the most important things to know about Dr. Alexander Elder's important work. According to Dr. For example, if your preferred time frame is the daily chart, you first start by looking at higher time frames like the weekly chart.

If the trend is up, we only look for buy signals. Inversely, if the trend is down, we only look for sell signals. By going through this process, we can filter out trades against the primary trend.

Elder's trading rules recommend downgrading our time frame lower. If during the First Screen we used the weekly chart, the next lower time frame we can use is the daily chart. Now, we look for price movements against the tide. Learn the most profitable approach to profit from pullbacks HERE. This in return will help us spot good times to execute your trades. The Elder trading system uses oscillators to identify these price movements against the tide.

Read more about volume oscillators. The Elder trading system refers to the third screen as the execution screen. Or, in other words, this time frame is used for better timing our entries. To time your trades, Alexander Elder uses a trailing stop in order to seize small breakout in the direction of the main trend. Now, there is one more concept that Dr. Alexander Elder has taught in his book, Trading for a Living. The Alexander Elder trading strategy uses a technique to balance out the different information that comes from looking at different time frames.

The way to go about it is to first select your larger time frame first screen and then downgrade the charts lower by a factor of 4, 5, or 6. For example, if your first screen is the daily chart and we downgrade our time frame by a factor of 6, the next time frame would be the 4-hour chart. Now, to find your execution screen aka the third screen, we have to downgrade our time frames lower one more time.

If we used a factor of 4, the next down in line time frame is the 1-hour chart. For example, if the long-term trend is the 4h time frame, the medium-term trend should be the 1h time frame while the short-term trend should be the 15 minutes TF.

We used a factor of 4 to obtain the 3 screens. Alexander Elder trading strategy works as a methodology of verification of the trend from a one-time frame to the next. The Triple Screen trading strategy blended together multiple indicators like the MACD indicator and the Force index to identify entry points. According to Alex Elder trading rules, the best moment to buy is when an uptrend has undergone a pullback and has started to resume the bullish trend. So, the daily chart is used to determine the long-term trend.

And, for this purpose, the day moving average, which is the standard measurement of bullish and bearish trends, will be our trend filter. We wait for the MACD lines to rise from the oversold condition and the moving average slops have turned upwards again. Alexander Elder recommends to use the Force index or another momentum oscillator to add more confluence.

If on the second screen we used the 4-hour time frame, the next in line time frame is the 1-hour chart. Learn more about the Know Sure Thing oscillator, a powerful leading indicator that can help you boost your profits HERE.

Written by Forex Signals. How sexy is a desk with multiple monitors? Nothing excites many of us more than sitting down at our desks with charts whirring and price jumping, reaching for that elusive Trading Platform. But, how many trading screens do you really need to maximize the chances of your success as a trader?

And can you trade with one forex trading screen? That wise man was broke 3 months later. Surely the more markets you can watch at once, the more likely you are to get a better market observation, detect trading opportunities, and the more money you stand to make! After all, you can assume that you have more screen space to view lots of charts and use technical analysis tools.

Instead, your brain toggles rapidly between each task giving it undivided attention, but only for a moment before toggling back to the previous task. How many times have you been looking into a pair or different asset classes, only to see a little movement in your peripheral?

Is that a trade setting up? No… where was I? Ok, focus. One single forex trading screen is plenty. Gluing your eyes to a single chart on a single computer screen — makes it easier to block out distractions coming from unnecessary charts. If a trade looks to be setting up, check other timeframes and correlated pairs, run through your trading plan and decide on a course of action.

If necessary, shift to financial reports, economic data and breaking news. I have the ability to block out peripherals until a trading decision is made, only then will I allow distractions to come into view.

I also use my other monitors to join in the conversation within our trading room or read up on the latest analysis from my advisory services. Interestingly when I travel I happily and successfully trade currency pairs from my laptop without issue with just one monitor.

In fact, many traders trade the forex markets and stocks with one high-resolution monitor. How often are your eyes darting between each chart and monitor? In my experience, multiple screens normally make traders less efficient and more prone to over-trading.

By using multiple connectivity options, some traders tend to lose focus in the markets, and somehow increase the risk. So, it is crucial to choose one of the best monitors out there in the market preferably ergonomic monitors , set it up so you have more room for as many charts as you need, and take advantage of trading financial instruments at the same time.

What do you trade on? Please feel free to share pictures inside our forum. There are some impressive PCs out there I must say! Try Live Forex Trading Room now for just 7 days free and gain access to:. Learn more. Daily Live Streams , Forex Signals and much more! Blog Forex Forum Log In. How many monitors do you need to trade forex? How Many Monitors Do You Really Need for Day Trading?

More monitors are guaranteed to do one thing — make you feel more successful than you are. So, Can You Day Trade with One Forex Trading Screen?

Share on: Facebook Twitter LinkedIn Pinterest. Try Live Forex Trading Room now for just 7 days free and gain access to: Daily Live Streams FX Trading Academy Tradeable Forex Signals Live Chat with All Members and much, much more! Join our Live Forex Trading Room now! Become profitable trader with a help of our great community. Learn from FX Pros! Gain full access for 7 days free.

EUR is first up, then is the GBP. Try Live Forex Trading Room now for just 7 days free and gain access to:. The idea is that on one of my trading screen I always have these 6 pairs to know which one is strong and which one is weak at the moment. My Account. How to Invest in Jewelry. And to enter into the trade you need to have the template to set up the trading screen faster. We have the USDCAD over here which is basically connected more to the New York opening.

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