What is Screentime in Trading? How Screentime helps traders to improve their trading decisions?
In trading, screentime refers to the amount of time a trader spends watching and analyzing market data on their computer screen. The purpose of screentime is to help traders make informed trading decisions based on real-time market information. By monitoring the market for extended periods, traders can identify patterns and trends that can inform their trades. Here are some steps traders can take to improve their screentime:
Focus on the most important market indicators: Traders should focus on the key indicators that influence their trading decisions, such as price action, volume, and technical analysis.
Develop a trading plan: Traders should have a clear and concise trading plan that outlines their goals, trading strategies, and risk management plan.
Take regular breaks: It's important for traders to take regular breaks to avoid fatigue and maintain focus. Taking a break every hour or so can help traders stay alert and refreshed.
Avoid distractions: Traders should minimize distractions, such as social media, email, or other applications that can interrupt their focus.
Screentime can help traders make better trading decisions by providing real-time market data and allowing them to identify patterns and trends. By spending more time monitoring the market, traders can develop a deeper understanding of market dynamics and make more informed trading decisions.