A computer, a monitor and a comfortable chair for a forex trader are a big component of success. You need to work with money in comfortable conditions. Let’s talk about the workplace of the trader.
So, you are a forex trader. In the presence of you: repeatedly tested a reliable trading strategy, the ability to control risks, and keep your emotions in a fist. Is this enough for profitable trading in the foreign exchange market? Someone will say – ultimately. But we allow ourselves to object – no, this is not enough. A vital role is played by where and how you trade and what your working environment is. As you might have guessed, today, we will talk about the workplace of the trader and how it should ideally be.
WHAT SHOULD BE A COMPUTER FOR TRADING
We do not need to launch satellites into space, so a trader does not require a super-powerful computer. However, it is not worth striking to the extreme either – the ancient “calculator” is hardly suitable for a successful trader. It is enough that the trading terminals used by your work quickly and do not hang, and the machine’s resources allow you to work in the browser, watch videos or use other programs without slowing down the performance.
It is essential to have some backup electronic devices on hand. It can be a simple laptop or even a smartphone; fortunately, now almost every forex broker has a mobile trading platform. This is in case the computer (unexpectedly, as always) refuses to turn on, the hard drive flies, the cooler dies, etc.
WHICH MONITOR IS BETTER TO TRADE ON
In Wall Street feature films, the trader’s workplace is furnished with monitors on all sides, including a monitor at the back of the head for the eyes. This is all superfluous. You can hang monitors from head to toe, but you will not trade better from this.
One monitor for comfortable trading is enough. And it is better if it is with a diagonal of 19 to 24 inches. This will allow you to trade comfortably and watch a movie or video about funny cats during your vacation.
DO NOT FORGET ABOUT THE INTERNET
For the modern Internet, the proverb “the faster, the better” is applicable. We believe this does not need an explanation. However, even after spending the fiber and getting a speed of 100500 Mbps, you should not relax. You need to have a backup plan in case the Internet (as always on time) disappears.
This can be a backup line from another provider, a 3G modem, or a smartphone in modem mode.
MY SOUL IS AT SEA, AND MY BOOTY IS SOMEWHERE IN A CHAIR …
Do not underestimate the importance of what you are sitting on. In the human body, everything is interconnected. The spine is directly related to the work of the brain, headaches, and general condition. What will be your performance if you sit at a computer on a kitchen stool for half a day?
Spare no money and buy yourself a good computer chair. Do not save on health, but you will still earn money.
DOES THE TRADER NEED A PRINTER
Strictly speaking, if the preceding paragraphs were mandatory, then this paragraph is optional. The presence of a printer at your work, or even better, an MFP that combines a printer, a photocopier, and a scanner, will make trading more convenient.
You can print the necessary graphs, draw on them with a pencil or marker, make tables and posters for yourself with relevant information, etc. It is perfect if it will not be lying on the table, but hanging on the wall before your eyes.
AND PERHAPS THE MOST IMPORTANT
Finally, we left the most, according to our Fortrader experts, the main requirement for the trader’s workplace. This is the need to separate personal life and workspace. You must admit that there can be no talk of any productive trading if “As I remember now, Varya is dying, Ivan Izrailevich is in the next room, crushed by the piano …”
If possible, then for trading, it is better to allocate a separate room where no one will bother you. Let’s say the option of renting an office. Let the word “office” not scare you – it can be an ordinary small family, where no one will bother you anymore (do not forget to warn your wife, but no matter what happens :)).
How do you see your ideal workplace as a trader? Share in the comments.