We are hypersensitive to patterns in data as a result of this quirk in our DNA. We see them even when they don’t exist, which is why people believe the motions of the stars and planets affect their lives.
Not really. It is true that a trader can take full look of the market by means of analyzing various trends with the use of diverse technical indicators like pivot points, candle stick charting, graphs, etc. But constantly looking at the chart won’t help a trader. Rather a trader requires monitoring everything in systematic manner and after proper time interval to get a clear understanding of the market in right manner.
I think that it all depends on what trader is actually looking for find in a chart. Before you enter into deal, you just need to watch closely your charts to know right entry moment. If you have set properly SL and TP orders, you can certainly do something else until these orders are executed
I try to minimise time for chart-checking because it greatly improves the level of stress especially when position is open. that's why I use EA on my Hotforex platform which I carefully backtesting before letting them work on live account.
It depends on my strategy, as I use both scalping and long term trading. When scalping, I'm constantly staring my chart waiting for a great time to close a deal. But when I'm making a long term investment, I'm trying to minimize time checking my chart, as it's stress my and force to take unreasonable decisions...