Whether you’re a veteran trader or just figuring out how to start forex trading, a fundamental part of success on this market is an optimised work environment.
As an easily accessible 24/5 market, foreign exchange can be traded from the comfort of your own home, making it tempting to trade from your smartphone or laptop while cosy on the sofa or still snuggled up in bed. And while the thought of making money without having to lift your head off the pillow may sound like the perfect setup, the hard part is maintaining focus. Home comforts also lead to home distractions, which can be very damaging to the lightning reactions and unrivalled focus required in forex trading.
As such, today, we’ll be showing you how to design your own home trading suite, ensuring you have everything you need to start trading the right way.
Find the ideal space
You’ll want to design your home trading suite in the quietest spot of your home to minimise any unnecessary distractions. Spare rooms such as smaller bedrooms or storage spaces can easily be transformed into a working trading suite with a little rearrangement and the addition of a desk and a few extra power outlets, and are often removed from the hustle and bustle of the rest of the house.
Natural lighting is also an important factor to be considered when deciding on a home trading suite space. You want your room to be motivational and inspirational, and the mood-boosting qualities of natural light will certainly aid this. If you predominantly trade with a foreign currency as your base, you may actually want a soft, artificial light source in your suite, as you’ll likely be doing most of your forex trading during the peak times of the relevant time zone.
You’ll be spending a lot of time in your home trading suite as you hone your skills and get to grips with the market, so ensuring you’ve got a comfortable setup is absolutely vital.
Investing in a high-quality desk chair is our top tip here. Find one that perfectly supports your posture, in case you end up spending large periods of time here, analysing the latest data from the world of currency trading. Combine the desk chair with a sizeable desk that can accommodate all of the necessary equipment for the perfect home trading suite setup.
Have all the right tech
With your suite now optimised for comfort and productivity, it’s time to ensure you have all the right gear.
A large array of monitors displaying all the latest live forex charts and rates will help you to stay updated on any market fluctuations and should be combined with a laptop or smartphone for placing your trades – and make sure you’ve always got the appropriate chargers on hand so you’re never caught short. Last but not least, consider introducing a TV displaying a 24-hour news channel to ensure you’re staying up-to-date on any world events that could influence your trades.
Now that you’ve got the perfect home trading suite setup, it’s time to make sure you’re ready to start trading by signing up for one of our free forex workshops. Whether you’re wondering what investment is right for you or simply how to go about trading online, we can help you on your first venture into the world of currency trading.