The beauty of trading is that you can pretty much trade anywhere if you have a fast and reliable internet connection. However, practicality-wise, many of our members have dedicated workspaces for trading from home, especially those that day trade. Here are 7 essential tips that we have put together to help improve your trading from home experience:
Carve Out A Dedicated Space For Trading From Home
Not everyone has the space for a full home office. If you do, that’s great, but if you don’t, try to carve out somewhere in your home that is away from distractions. Even if you have to share it with any other work that you do from home. The last thing you want to be doing is trading on the dining room table with your kids running around you.
Choose The Right Desk
Standing desks have grown in popularity over the years, and some of our Market Specialists use them as they can help with posture and productivity. Many standing desks can also be lowered, which is excellent for those that spend more than a few hours at their desk.
If you like to have a lot of storage, or you’re at your desk all day, then a standing desk may not be for you. There are many great desks to choose from these days, especially as awareness and emphasis on ergonomics have grown over the years.
Invest In An Ergonomic Chair
If you opt for a regular sitting desk, ensure that you invest in a good-quality ergonomic chair. Your back will thank you for it. Be mindful of the armrests. Seems odd, but some of us here have invested in chairs that then don’t slide under the desk, and you end up having to overstretch, and that is never good.
Use A Powerful Computer
Deciding whether to have a computer that’s purely for trading is a personal choice. Some of us here at the Pinnacle Institute have separate computers for trading and then other work, while some of us just have one machine. Desktop vs. laptop is also a personal choice though many of us do opt for a portable option, which is helpful if you travel a lot.
Whether you plump for a desktop machine or a laptop, you’ll need a pretty powerful computer. The majority of traders we talk to opt for a PC. However, if you’re an Apple person and want to stay in the Apple ecosystem, then it is possible to do this. It’s easier if you are trading using a compatible platform such as Think or Swim. If you use Tradestation, it’s still possible. In order to do this, you will need to run a PC emulator on your iMac or Macbook Pro. Trading View is also increasing in popularity as a solid charting package and works across all platforms, including PC, Mac, and mobile devices.
Pick The Right Monitor SetUp For You
Back in June, we ran a poll on how many screens people use when trading. Not surprisingly to us, 41% of respondents said they use two screens. This fits with the majority of us here at the Pinnacle Institute. One and three screens were tied equally at 22%, and 15% said they use four or more screens.
When it comes to monitor size, we wouldn’t suggest going smaller than 24” as you want your charts to be easy to look at. We also suggest looking at the resolution when purchasing a new monitor. The more pixels, the clearer the image will be.
Ensure You Have Good Internet Speed
Internet Speed is hugely important. The last thing you need is for your internet to drop as you are trying to place your order or close out a trade. There are many different views on internet speed and much more detailed articles on internet speed alone. We would say that you really want to look for at least a 25 Mbps download speed, and at least a 5 Mbps upload speed.
If you struggle with spotty Wifi, consider investing in a Mesh System. These can really help to boost the signal throughout your house.
Minimize The Clutter When Trading From Home
Doesn’t seem that important but having a tidy workspace can help you focus more. So be sure to regularly clean up your trading desk. Cables everywhere, papers over your desk, and general clutter can lead to a distracted mind. This is especially important if your trading desk also doubles up as your work desk or is shared with someone else.
We hope this article has helped give you some tips that you can implement to elevate your trading from home experience. Want more tips on trading, not just trading from home? Check out our recent article ‘Trading Consistency: 5 Powerful Items To Add To Your Trading Routine.’