Welcome back from the weekend! Are you ready to handle another hardcore week in currency trading?

There are tons of major news events happening this week! News traders rejoice in euphoria!!! the Jeddah Oil Summit, Unemployment numbers from a couple of markets, to PMI’s and Consumer Confidence, and Several GDP numbers as well! GET READY FOR SOME VOLATILE BLOWOUTS THIS WEEK!!!

All day, the oil summit in Jeddah, Saudi Arabia will be a core focus, as Riyadh and OPEC are in a Crude Oil Output leveling match. Expect some currency shifts to occur depending on the aftermath of the summit.

England’s Pound will be monitored with the reading of the Rightmove House Price Index. This index will reflect fluctuations in asking prices for houses that are for sale in England. Rightmove.co.uk, a real estate website in England, has a similar caliber and weight to the US’s Realtor.com.

Almost three hours from now, Japan has a number coming out for the Business Survey Large Manufacturing Conditions index. The numbers are a result of a survey, that is given to business owners who are asked on their business levels. Either they can respond with an increase, a decrease, or an unchanged level of business. The magic number to look for is -17.

Australia will release later on, numbers on New Motor Vehicle Sales. This index is in the monthly range.

New Zealand will release shortly thereafter annual Credit Card spending numbers.

See you later in the European Session! Also I had mentioned on the Trader Tech Segment, that I will be unveiling a new segment shortly. I will let the cat out of the bag here. I am going to write in addition to the Trader Tech articles on the weekend, a segment on the fundamentals and strategies in Forex Trading. Keep your browsers and RSS readers on full alert!

TRADE ON!
Tom Howell
editor
GoForexTrade.com

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On this wonderful weekend tangent of Trader Tech, we are going to cover Multiple Monitor Trading Workstations. A common question I get from fellow traders, and aspiring traders, who want to know what would be an optimal monitor arrangement for trading forex.

For one, shooting from the hip, I don’t think you need a million monitors. There are some folks who just want to buy a crate load of 19″ or 24″ LCD’s and hook them up to their awesome PC. If you want to purchase several monitors for your setup, think about functionality and usability before glitz, and gadget fever.

First of all, think about what type of trading that you are doing? Are you scalp trading, trading 8-16 hours over several intraday markets trying to squeeze every single pip out there? Maybe you are a daily trader, who prefers placing positions that hang on the market for not only days, but also weeks! Or maybe you are a expert advisor trader, that prefers an automated trading solution. You might even be a news trader who needs a ton of monitors, to monitor the news and charts!

Not every type of trader is going to have a typical setup. Some will require more or less than the other depending per case.

Next, in your trading plan, have you planned a firm strategy of what currency pairs you are going to trade? several forex traders will have a set amount of currency crosses to cover. In most cases, it’s not much more than just the majors. Usually the average trader wants a monitor for each currency pair chart window, then a window or two for News, and maybe another one for general computing stuff, internet, and chat.

One thing that I have noticed about certain bank traders…
living near a big city, I have seen trading rooms at several different banks. Due to having a limited amount of space, these traders cannot go hog wild and have a warehouse of monitors, but instead depend on 2-5 20-24″ widescreen monitors at most. Honestly, having a dual for those who are using expert advisor systems might suffice, because Metatrader 4 doesn’t honor multiple chart/monitor systems as of right now.

Another Factor of course, that will be the mother of all factors is cost. With monitors getting lower in price, yeah, you could probably get 3-4 decent 19inch flatscreens for under $800. But you have to factor in the Video card as well. Yeah, there are four output video cards, and even ones that output 8 as well. The problem is, that those cards can cost a starting trader a great chunk of cash. Also consider needing a powerful computer, that wasn’t 2 years or older in age to control them.

For a price of such a system, check out Naplestech.com for trading solutions. They have systems up to 12 displays for traders.

I hope this helps!!! Please give me some feedback, and let me know how many monitors you have for a trading system! Comments and email are welcome!

Thank you again!

Thomas Howell
editor
GoForexTrade.com

P.S Unveiling a new segment very shortly! Check back often!!! See you at the Asian Market Open!!!

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