To build a profitable career out of forex trading, you will need to create the ultimate home office
Setting up a proper trading station at home is easy and highly effective. It improves focus and optimizes personal efficiency much needed in forex trading. Whether you are a novice or an expert, your home office can easily affect your mindset and productivity during trade hours.
For an efficient and positive work environment at home, make sure you have everything you need in your trading station. Here are our top 10 must-haves for the ultimate home office:
The Right Desk
After picking a secluded area for your workstation, one of the first things you will need is a great office desk. Don't forget that this will be the center of your home office where forex trading will take place. Make sure to choose the right size for the space as well as the perfect design for your workflow.
There are plenty of options to choose from. But before buying the best looking desk, make sure to consider the following points:
How many monitors do you have? Is the entire desk space going to be usable? Can picture yourself being productive with this desk?
Ergonomic Office Chair
Comfort is key when working in your at-home trading space. Finding a high quality and comfortable chair can encourage productivity and can also improve health. With the amount of hours you can spend trading or studying the market, an ergonomic chair can keep you focused and relaxed.
According to Life Hacker, some the best ergonomic office chairs are made by Herman Miller, Steelcase, Ergohuman and IKEA.
Using a bean bag or an exercise ball from time to time can also be an interesting alternative while working.
A premium computer setup is the best investment for an at-home trading office. Since most of your work is on the computer, your setup should be dependable and FAST! You want to make sure you get a minimum of a dual core processor, good RAM(Random Access Memory) and fast processing hard drive. This means faster execution times, no lagging issues and real-time figures without interruptions.
A laptop with long battery life is also a good investment. If your house loses power or if you may need to work outside of your home office, you can easily continue to work.
*Quick Tip when shopping: Ask for the best selling computers and laptops used for gaming. These will usually have high performance, reputable quality, and up-to-date hardware.
Multiple monitors enable you to optimize your trading strategies. With so much information coming in, having at least two or three monitors will allow you to track and display trading data all at once. This setting helps you analyze charts or stocks while keeping an eye on other indicators. It also lets you place trades or view quotes without the interference of breaking news or chat rooms.
There are plenty of companies devoted to manufacturing monitors and computers for day trading. Visit EZ Trading Computers, Trading Computers or Falcon Trading Systems to get an idea on how to use monitors in your home office.
Other Important Desk Accessories
To enhance your trading results at home, here are some extra desk accessories you probably haven't thought about!
- Surge Protector – A simple and cost effective device that protects your computer from unexpected voltage spikes.
- Computer Cooling System – Whether this is a built-in or a makeshift cooling device, plan a cooling system to dissipate heat.
- Ergonomic Mouse – This is a kind of mouse made to fit your hand position and improve comfort during use.
- Gel Mouse Pad – All gel mouse pads decrease stress in the wrist especially during long hours of trading.
Powerful Internet Connection
You cannot be a successful forex trader if you don't have powerful internet connection. Along with a top performing computer, high speed cable internet is an essential for faster data exchange as well as quick executions.
Do browsing pages load quickly? When streaming in youtube.com, is there a lag?See if you are satisfied with your existing connection and go from there. If your current provider offers better plans, get it! The extra monthly fees will be a smart investment and a necessary business expense.
You cannot be a successful forex trader if you don't have powerful internet connection.
Back Up System
As a professional, you must always prepare for the unexpected. Here are a few instances when you would need backup system ready in your home office:
- Power goes off in the middle of an execution. Sudden power loss can be stressful and quite risky. You will need a battery backup power loss system like a UPS(uninterruptible power supply) that will keep your electronics running. Set up a backup power loss system in your home office with devices like an APC Back-UPS 650 or a Cyberpower 1350. Although more expensive, these systems usually come with a good surge protector.
- Your "old reliable" computer crashed without warning.The best way to deal with these unavoidable situations is to prepare a backup computer or a laptop with your trading software ready. You must also backup your Metatrader 4 via online storage service or an external hard drive. Lastly, always make it a point to copy and transfer all files from your day trading computer to any storage system to avoid data loss.
Smart Organization Products
Everyone knows the benefits of having an organized desk. Companies like The Container Store and IKEA have developed simple and stylish products that promote uncluttered spaces. From drawer organizers to cable wire control, there are many smart designs available that can improve your workflow.
Forex Trading Journal
Having a trading journal can seem like an optional tool in your office especially when you have a forex broker. But having your own journal can actually help you with your efficiency. It keeps track of how you execute trades and reviews your personal growth as a trader. It can also analyze your overall performance during a certain time.
Take it from babypips.com : "A disciplined trader is a profitable trader and keeping a trading journal is the first step to building your discipline."
Personal Checklist for De-stressing
Trading can be a high-stress career. But one big advantage in having a home office is that you can personalize your space and make room for things that promote relaxation. Try placing memorabilia on your desk or set up a coffee maker in the area if it helps. You can also prepare your favorite playlist.
Create your own personal checklist with relaxing tips to keep a level head while trading!
One of the best ways to become a successful forex trader is through an optimized trading station. Your setup should boost productivity and create a professional environment for best trading results. When you invest in the right tools for your ultimate home office, you start building a profitable and sustainable forex trading career.
To build a profitable career out of forex trading, you will need to create the ultimate home office.