Working from home used to be a dream for many in the past, but now there are plenty of opportunities to work from home as the internet and smart technology evolved. Online trading has become quite popular, and most traders work remotely. Hence, having a nice home office for day trading contributes to accuracy in decision making. Let’s learn more about home trading setup for online trading.
You are half done if you have already found a suitable place for your home trading office. However, it takes a lot of time to create an adequate space for your trading office. Lighting is one of the critical aspects of it. Ideally, it would be best if you had maximum natural daylight. For that, you need a space near the window.
If there is no daylight available, then you may need a combo of general and task lighting. If you work late at night, then you need a high-quality task light. If you set up an office in your basement or a room without a window, then you may need energy-efficient lighting with a full spectrum. The lighting should have a dimmer to adjust the intensity of light. However, try to avoid too low light as it may lead to adverse effects on your mind.
Do not put the light right above the computer screen or even directly in front of the screen as it may create glare and can cause strain on your eyes. You should be able to adjust the intensity and brightness of the light.
Forex traders need detailed on-screen information as they assume more risk. Traders have to keep space for finding future opportunities by focussing on the markets not being traded at the moment.
How many monitors/screens do traders at home need to efficiently watch the markets?
The price of monitors has dropped over the past few years. You can add many monitors with the same graphics card, and this practice allows you to increase your efficacy. However, the number of monitors depends on your budget. Ideally, you should have three trading screens for comprehensive visual analysis. I like to use them like this:
You may also need to keep an eye on multiple timeframes of a single trading asset so you may know both the long-term and short-term views.
Ideally, the size of the screen is 42 inches with a high resolution of 1024 x 768. However, you may opt for a larger number of screens by compromising on the size of the screen.
It is essential to have a suitable desk with proper placement to assure comfort during your work. Typically, the desk’s height should be around 25 – 30 inches depending on your height. There should be adequate space for placing your knees and thighs comfortably under the desk. Try to avoid a desk with sharp edges as they may injure you.
The center of the computer screen should be placed at eyes’ level so that your head may stay vertical and aligned with your neck. The mouse and keyboard should be kept within easy access, and be on the same surface. Keep your desk’s position at such an angle that your wrists are straight, and your arms closed to your body.
A fast internet connection is a must-have for the forex traders at home. For that, you should know two main concepts: download speed and upload speed. High downloading speed is important to keep retrieving accurate market data. Slow download speed may cause trouble while executing a trade. Slow uploading speed can also cause trouble. Therefore, your uploading speed should also be significant.
Hence, it would help if you had a great connection at home to support your work. Ideally, it should be an optical fiber or high-speed DSL connection.
Chair manufacturers have done a great job in creating comfort for computer users. It makes life easier for those individuals who need to work on the computer for the day long. Such chairs are preferred that feature balanced pelvis as those chairs provide support to the spine during computer work.
Investing in a nice comfortable chair is not a waste of your money as better posture and relaxed seating may contribute a lot to your efficacy and decision making. The goal is to create your work comfortable and least stressful for your body and provide support to your body parts that are mostly involved in your work.
As a trader, you may need some stationery for taking notes or writing important things. It is good to invest in your stationery and an organizer or a storage box. It is worth stocking for the items in bulks that may be enough for you for many months.
You should consider the following list of office supplies at home:
Online trading from home requires you to select the quietest corner of your house. Most traders avoid any noise as it disturbs and lowers productivity. It’s a bad idea to choose a busy room at your workplace at home. Also, it would be best if you kept enough distance from the television and play area. Try to choose a place with a door so that you may keep the outside noise at a minimal level.
However, not everyone is fortunate enough to have an isolated space at home. Hence, you can choose a corner or a place near the window and adjust yourself to the existing environment. Also, try to seek cooperation from the family members.
There could be a distraction in the surroundings and on the screen as well. You have to make sure to avoid both. Your home trading setup should have a clear desk, as the mess around your desk may hinder your productivity. Also, try to keep the room clean and free from any dirt or unorganized stuff. Make sure that there is no barking dog around or any other loud noise that may distract you.
It is also vital to avoid on-screen distractions like social media and other notifications and alerts that digress your focus, and eventually, you may lose an opportunity. Try to keep only important desktop notifications and alerts and switch off the rest.
So, the bottom line is to create a home office for trading in such a way so that your productivity is maximized. This can be done by investing in the right tools and equipment. This may include a proper table with a comfortable chair and task lighting. Also, keep some necessary office supplies. The screen quality should be good enough, and the number of screens should be at least three to keep essential things under your notice. You can enhance your productivity by keeping the environment free from distraction.
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