How many monitor(s) an active trader needs to be productive and efficient? The fact is active trader can greatly benefit from using multiple monitors. The right workspace will help you boost your productivity, and this applies to trading as well. I don't think there is a single best solution for traders. I have been using two screens for my home office for a while. I have a Dell laptop with a 17" screen and a secondary 23" screen that I use for charting. I keep my workspace as clean as possible, so I can focus on reading, writing and analyzing markets.
I use my auxiliary monitor to display charts and data. I think that using two screens makes trends a lot easier to interpret since more data can be visualized at once. I have met traders who prefer to rely on a single screen for order entry and who have other displays to keep price charts and their other analysis applications in view.
Even though using multiple screens allows you to see a lot more data, it is important to keep things simple. A few well-designed trading charts and an application to place orders are all you need. You will need to make a few adjustments and to try different things until you can figure out what works best for you. Get rid of the redundant indicators and hide the ones you don't use. Price data is the most important thing to look at since it helps you understand the fundamental aspects of trading.
If you are not successful when you trade with one or two screens, getting more screens won't help you. I don't think anyone should need more than two monitors. It is more important to focus on quality trading and to improve your strategies. Cut down distractions such as watching TV or working on other things when you trade.
Don't follow the advice of a trader who lacks experience. A novice trader might recommend that you get several screens to monitor futures, stocks, Forex or CFDs. I have seen new traders who spend a lot on equipment because they feel that having several screens will give them more controls. You don't need more than two displays and don't need to purchase an expensive graphic card either. The truth is that having too many displays won't help you make better trader. Focus on finding a system that works for you and remember that more screens won't make you more efficient.
Regardless of how you trade or of the markets you follow, you can set up a great workstation with a laptop or a desktop and an additional monitor. Your secondary monitor should be sufficient to make data easy to read, and purchasing more displays won't help you. Fancy screens and equipment can be expensive, and there is no need to shell out significant amounts of money to get started with trading. Most trading applications are designed to display different types of charts simultaneously. You can zoom in and out anywhere on the chart, change the indicators you want to look at or switch to a different price chart as needed.
Focus on building a practical workspace for your trading needs. There is no reason to show more than a few charts simultaneously, and you can keep your news feeds running in the background. You will get better results with a clean setup that is straight to the point, and that helps you avoid distractions. Keeping your setup small also means that you can easily move it to your living room or even to your patio on a nice day!
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