A Traders daily plan 6

in #trading7 years ago (edited)

we started in our last session about Technical Analysis with some principles and candlestick patterns.

I get often asked how my work spaces look like ,what software and hardware i am using,what indicators i prefer and how I use them,what my setups are and about my indicator settings-as much as these topics are more secondary i will satisfy this curiosity today before continuing with principle work: (trust me any of the above is not as important as psychology and execution skills in trading but I understand the need for many to gain temporary certainty about the credibility of a trader due to those morsels of information-for all you old cats out there who are trading for longer than a couple decades i apologize for the delay before we go back to principles)

I started out like any other trader with a monitor or 2 until my office looked like this:

P1050464.JPG

and luckily I was able to reduce to a smaller setup now:

P1090822.JPG

for execution I use genovation besides the obvious mouse and keyboard:

P1070655.JPG

The underlying principle is that -yes- less is more, and reduction is the key but one can only after acquisition of mastery reduce and it is logical to have an expansion period before a minimalist approach so lets set aside for now to make millions on a tablet with ones feet in the ocean

I use what I call and "ant system" as an approach which means I don't run only one mega computer but rather multiple computers parallel since as a trader the biggest responsibility is risk control and if one machine strikes and a couple screens go out you are not sitting there blind or are out of execution options.

as such a network mouse and keyboard is imperative and some other tools to make hardware and software in alignment

we get to those in later posts

as always
feel free to ask any questions about this or prior posts and thank you for your time
@allthereisislove

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This wonderful post has received a bellyrub 30.76 % upvote from @bellyrub thanks to this cool cat: @allthereisislove. My pops @zeartul is one of your top steemit witness, if you like my bellyrubs please go vote for him, if you love what he is doing vote for this comment as well.

thanks a million-your generosity does not go unnoticed

That is a sick setup man! Sounds very professional... I had 4 monitors, 2 cpu when professional poker player but now im on 2 monitors. I miss more space for sure.

representation is psychology-also very big aspect in professional trading-its easily to much and its easily to little-most traders have there setups simply wrong which leads them to get sucked into the action
larger time frames are supposed to be at the left so the eye notices them first since we are trained from left to right wich than keeps us more at a top down approach to rather look where the action is on smaller time frames that aren't as important

thanks again for finding the time to comment and point things out wisely-it is truly appreciated

may be this could interest you-wish you a fine rest of the day:
https://steemit.com/cryptocurrency/@allthereisislove/these-tools-help-any-steemian

thank you for your very valuable time

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