Stock Market Advice for Beginners!
Today we are focusing on the Stock Market Beginners and what kind of utensils you will need. This is mainly because I received a link to a video where a trader goes through his system setup. He explains about his 4 monitors; a 19 inch monitor that is run by an XPS Dell computer with 2 graphic cards. Through my trading career I have seen many traders who are showing too much interest in the computer setup which can be confusing for stock market beginners. Traders tend to think that the more monitors the better when they come to trade. This is not always true. Too many monitors can remove focus from the trader. To make it even worse, many traders buy expensive systems with 10 or more monitors without a proven track record so if the trader never succeeds in trading then he has just wasted a lot of money! Don't get me wrong though as of course multiple monitors can be helpful when trading and scanning for many stocks but there should be a plan with it all. If you are losing money with one monitor you are almost guaranteed to lose even more money by trading using multiple monitors. It will only give you more trades, not better trades. There are far more important things that stock market beginners can learn instead of investing in a space station kind of setup when it comes to your trading setup such as: 1) Stable internet and computer 2) Familiar with the trading software you are using 3) A clean and tidy desk 4) No instant messages popping up during trading 5) Your own setup that you are using every day so you feel "in the zone" My advice for stock market beginners, and even more those more advanced in the trading world, is if you are trading with one monitor, become profitable first and then add another monitor. Then trade using your new setup and look at your track record to see if the new monitor has made a positive or negative impact on your trading. Trading is about making it as simple as possible which also applies to your trading setup. What kind of things do you think will help beginners in the stock market?Remember One Trading Monitor at a Time!!
