It's interesting; when I see traders who are disorganized in their decision processes, many times I notice that their screens are poorly organized as well. This is one area where more--more screens, more cluttered on a screen--is not necessarily better.
If you click on the screenshot above, you'll see one of the screens I use for monitoring the market in real time (e-Signal platform). By clicking on any of the symbols in the lower half of the screen, I can see the chart in the upper half. The symbols at bottom left show me sector and index changes from the market open; the symbols at bottom right show changes from the prior day's close and include several asset classes related to stocks (10-year rates, gold, oil, euro/dollar).
I find that keeping trading screens simple, with only the information I truly need, is helpful for decision making. When you work with a screen long enough, you know exactly where to look for relevant information--very helpful when making and executing rapid decisions.
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Agree entirely. Traders must not only organize their trade screens, but their pre-trade (and post-trade) screens as well. Using good decision support technology in the pre-trade means of course generating ideas but being able to effortlessly link to other platforms, like esignal, to move to and thru the trade process.
Thank you very much for that! but, if you don't mind my asking, how are you able to make on-the-fly comments such as "We continue to see negative TICK; finally get the break below Mon low in ES, but not yet Russell. $ strong, oil weak?" Do you have another screen for that?
Very interesting. Thanks much for posting that. Your screen is indeed simpler than mine. I was just wondering - why do you have your RSI color line-bar window squashed down so far. Do you only expand it when you want to have a look or do you not really use that particular study? Also, a while back you mentioned Money Flow. I've found this study useful enough to keep up on my own charts but I notice you don't have that one here.
Dr. Steenbarger,
I wonder if you could share with us the meaning of the two colums "H" and "T" in your radarscreens.
I assume "H" is a high - either a new 20-period high or a new high for the day? Not sure what "T" is.
thanks!
T
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