Tips for cutting down your screen time?

This video will provide some really helpful tips on how to drastically decrease your screen time.
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Cutting Down Trading Screen Time

We just have a quick question here from Kerrick, asking whether it’s worth him limiting his time to only focusing on currencies that has important data events coming up, as opposed to trying to constantly watch multiple pairs. And he also asked whether it’s worth only focusing on upcoming events to filter out the base trading opportunity.

So it’s exactly for that reason that we create reports like the Top Trading Opportunities Report, the Week Ahead video, the Daily Risk Event Outlook Report, and the Current Sentiment Drivers Report.

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So that basically helps you to make sure that you are aware of the major events that we think could create a tradable opportunity.

So to get to those reports, you can go to the Currency Research section. The Top Trading Opportunity Report normally looks like this one.

The Week Ahead, you’ll find in the Video Commentary section, the video. And of course, the Daily Risk Event Outlook Reports, you can find in the Must Read section under any one of the specific trading days. Now, a good example of why these reports are important is just taking a recent example is this week’s euro reaction from the German Constitutional Court ruling on the ECB’s asset purchase program.

Now, if we quickly take a look at our Week Ahead video, we actually highlighted that as one of the key events that we’re looking for for this week, looking for a potential reaction in the euro, either to the up or to the downside based on the outcome, and we also highlighted what type of reaction we could expect from a potential shift like that. We said a ruling against the program should increase the BTP Bund spread, which should see some euro downside, and should be more supportive for the US dollar.

Now, if we just quickly go to the charts, looking at the Italian or the BTP Bund spread, we can see on the first of May after that reaction, we saw a big jump to the upside in the spread. So going to the Terminal, we also highlighted, of course, in the Daily Risk Event Outlook Report, if you go to the 5th of May, if we just quickly open that up, we can see, we also wrote that in the upcoming political events, and had a preview linked in the Terminal as well.

So going, just looking at that, the very first tip that will save you a lot of screen time basically, cut your screen time in half is just using the info that is already provided in the Terminal for you, that basically highlights all of the potential opportunities. So if you are tight on time, then, that is a great shortcut that you can use and will mean that you don’t have to spend hours and hours watching various currency pairs.

You can only focus on the main events and trade those events. So moving on to the second tip is something that will also save you a lot of time from basically constantly needing to watch multiple pairs is by knowing what particular sentiment is driving each currency right now. Now, that is where the Dominant Currency Sentiment Reports comes in, as well as something like the Tradable Sentiment Shifts Report that you can find inside the Market Insights tab.

Now, these reports are specifically designed to give you a very quick rundown of whatever is moving the currencies right now, and also what type of shifts are expected to move them going forward. Now, of course if you are a day trader, you have an added advantage because you can have the Audio Squawk running as well in the background.

So basically, immediately capitalize on news breaking that you know will move the markets based on the reports, and obviously if you don’t have the time to do that during the day, you might not be able to catch those type of short and sudden moves, but then, using the other reports we spoke about in the beginning of the video is the best way to save time, as you know, which events to focus on ahead of time. And then, you can plan your day around those events so sure that’ll mean that you might miss out on shorter-term sentiment-based trades.

So let’s say we were looking at a specific risk sentiment-based trade, it might mean that you miss out on those type of trades because you might not feel comfortable to leave a trade open because short-term sentiment like risk sentiment can change very quickly.

But you know that’s only for the more shorter-term trades, that you that you really need to stay in tune, and watch the market during the day.

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