Joined Jun 2006
I'm hoping to trade from a PDA soon down from 8 monitors a few years ago to 3 today! It all depends on your stlye of trading.If you are new to trading it's probably best to stick with one pair and one monitor and one indicator and one 1 mini lot
I would not like going back down to one monitor if need be. I've been running two on my primary PC for some time now for trading and also my graphic arts. I also have a dedicated trading note book next to me that runs EA tests round the clock and also Bloomberg NetTV news. I'm luving the setup. Would add to it, but knowing my future lies inside a motorhome, i'm learning with a minimal setup as space will be at a premium.
I only have one 17" inch monitor right now. I figure since I'm going to eventually be putting 6k on the line for my Forex trading, then I might as well get ONE wide screen LCD to go along with my current CRT monitor (I could use the widescreen for charts, and the old CRT for trading.) I can't believe how cheap 19" Widescreen LCDs are nowadays, you can get them for $250 bucks a piece!
I have 3 flat lcds running on one computer, and my laptop to execute the actual trades. Couldnt imagine having less then it now that im so used to it. Even having just one extra monitor will really help most.
I used to have 6 LCDs (from programming - believe me, for what I was doing 5 were at least necessary but the 6th was nice) but for most ways of FX Trading, it doesn't seem necessary to have so many monitors.
Of course life is much easier with 2 monitors or 3... I pared down all the way to 2 because I want to get used to being flexible (i.e. mobile... able to move with a laptop later)
So right now there are some situations where I want to plug a 3rd one back in (dedicated email monitor). But in general, 2 is plenty fine.
Even if you don't want to put charts on it, the 2nd monitor is great for running your other programs and web browser(s).
So 2 is just a basic level that anyone should consider, regardless of what they do with the computer.
Now for my FX MultiMonitor Theory (tm)...
Here it goes...
The FX MultiMonitor Theory states that the people who require more than 2 or 3 monitors for FX Trading are those that use (IMO) too many indicators on their charts. This makes it almost impossible to read a chart unless it is fully expanded to the size of the screen. So obviously in this case there can only be one chart displayed at a time per screen. But for those who use indicators more judiciously, it is posssible to have multiple charts displayed on a single screen and to read them quite comfortably.
This theory assumes that you trade from your charting program (e.g. Metatrader). If your charting app is different from your trading terminal, then you may want to add another monitor per trading terminal (depending on how active your trading style is)
So my advice, before anyone orders 3 or 4 more monitors is to really think about whether all those indicators on the chart are absolutely necessary for your style of trading.