by “Three Screen” trading strategy developed by Alexander Elder, which uses three monitors to analyze market trends and make trading decisions.
The Three Screen strategy involves using three different time frames to analyze the market:
- The first screen looks at a long-term time frame, such as a weekly or daily chat, to determine the overall trend of the market.
- The second screen looks at a medium-term time frame, such as a daily chart or H4, to identify pullbacks or corrections within the overall trend.
- The third screen looks at a short-term time frame, such as an hourly chart or M15, to identify entry and exit points based on the signals generated by the first two screens.
By using this multi-time frame approach, traders can get a more comprehensive view of the market and make more informed trading decisions.
The use of three monitors is not necessarily required for this strategy, but it can be helpful to have multiple screens to display the different time frames simultaneously. This allows traders to quickly compare and analyze data from the different screens and make timely trading decisions.
How many sreens do I need for trading?
While having multiple monitors can be helpful for displaying multiple charts or tools simultaneously, it is not a requirement for successful trading.
What is more important than the number of monitors is the quality of the information being displayed. Traders should focus on using high-quality charts and technical analysis tools to make informed trading decisions. Additionally, it is important to have a reliable internet connection and a fast computer to ensure that data is displayed quickly and accurately.
Ultimately, the key to successful trading is not the number of monitors or tools you have, but rather the skill and discipline to analyze the market and execute trades based on your analysis.
