Trading desk for scalping and day trading
You do not need any fancy trading desk. Still, there are some things you can get to trade more comfortable.
First, you have to decide where is your trading place? Is it specfic room in your house or maybe you are more mobile and travel a lot?
If you trade from one place you can set up trading desk with desktop and LCDs.
If you travel a lot, you can go with set up like Cameron did:
Obviously, in mobile scenario, you will go with a laptop and some smaller extra monitor.
As a minimum, you need one extra monitor. It does not have to be 40′ wide. You simply need that monitor so you can have a chart open all the time.
My current setup is temporary. It is Thinkpad 15′ laptop (T560) and 32′ LG display connected through HDMI. Nothing fancy here. I work on my laptop and I have charts open on LG display. In the past, I had two extra displays. I switched to LG because it is 32′ wide so I can follow easily more charts at once.
In future, I plan to travel more. I plan to switch to 15′ MacBook Pro and one additional display. Similar setup to the one showed by Cameron in a video before.
Do you need 5 monitors?
I know. You saw pro traders with professional desktop stations. They had probably like 6 or 8 displays. You don’t need that. One additional display is enough for a start. Truth is that you probably will be scalping only a few FX pairs or only EUR/USD. Another thing is that is really hard to scalp on more than one pair. It is better to focus on one pair, master your strategy.
Of course, if you feel that you need 2 or more additional screens then get them. Hardware is so cheap that it is not a problem. Just remember that more displays won’t make you a better trader- it doesn’t work like that.
Basic info about day trading:
- Forex scalping and day trading for beginners
- Best Forex broker, fx pairs, trading hours for scalping and day trading
- Day trading Bitcoin
- Forex scalping and day trading without indicators
- Time frames in day trading
- Trading desk
Management in day trading:
Indicators in day trading
- Forex ATR – trailing stop loss
- Forex Parabolic SAR
- Moving averages
- Bollinger bands
- Fibonacci retracement
- Support and resistance, Pivot Points