Better with live quote screen?
I am not a day trader, but i trade frequently throughout the year and watch the market closely. One thing i always avoid in my trading life is, live quote screen. This sounds funny and silly to most traders. But I am doing that, and I am benefited from this habit.
How often you can hear your heart pumping when you were looking at the live quote screen? By watching the live price, my emotion changed, and my trading plan changed and my trade decision (Entry/exit) changed. And i got painful lessons because of this advanced technology. From this point, i know i can never be a good day trader, instead I might just be another quitter of market.
In fact, other than day trading, I do not find a good reason of glueing my head to the live quote screen. I have predefined entry point and stop loss. All I need to know is if my order got filled. I have an advantage of using less advanced seconds-delayed price screen. Emotion disturbance is greatly reduced. I simply put in my orders according to plan. Once in a while I am checking out the price, to confirm if there is any extraordinary big move. Secondly, most of brokers provide free seconds-delay quote screen and charge a fee for live price.
Instead of spending time watching the live price ticking up and down in seconds, it pays to spend a little more time in reading, or back testing system. This is a learning experience.
Keep looking at live quote screen might make you look like a pro or even feel like a pro. However, what it does matter is the way you actually approach the market.
