Most traders agree that to become successful in trading, one must possess specific knowledge and experience. It can take months or even years to gain the necessary expertise. And while novice traders pay much attention to training (which they should), they often forget about the importance of a workspace set-up. This aspect is often overlooked, but it can largely contribute to your trading success. After all, one can’t work effectively in a messy environment.
Successful traders know this, so they always keep their workplaces organized. In this article, you will learn which factors to consider when setting up your workspace. We will also share some examples.
How to set up your workspace
An organized workspace is essential since most traders work from home, especially during the pandemic. So here’s what you need to do to create an effective, safe workspace.
Ideally, you need a dedicated space. It can be a separate room that has a desk and computer equipment. However, not everyone can afford to allocate a separate room for a home office. What about those who live in a small studio apartment, for example?
• If you share a room with someone, use a spare corner of the room for your desk. Sit with your back facing the room. This will allow you to isolate yourself and stay focused on your work.
• If you live alone in a studio apartment, you can divide your room into separate zones – a work area and a rest zone. Experts suggest making a distinction between the two zones since you can’t be fully immersed in the work process in the area where you’re supposed to relax and chill.
• If you live in a studio apartment with your family, you can turn your closet or your balcony into a small functional home office. Add a desk and put up some shelves to create a workstation.
Use color to separate a space into zones with different functions. It’s advisable to highlight that your workspace with color doesn’t blend with the rest of the room.
As you can see, you can set up your workspace even in a small place. If you have not done this yet, thinking you don’t have enough free space, just take our advice.
Key elements of a trader’s workspace
The workspace of a trader should be not only comfortable and stylish but also functional. When you have your own space, think about how to organize it better. First of all, make sure you get an uninterrupted Internet connection. Choose a reliable provider that delivers fast internet and excellent customer service. Connection issues and slow internet can result in trading losses. That’s why it is essential that you get a higher-speed service and a good router that should be set up in the immediate vicinity of your workplace for a strong wifi signal.
To protect yourself from power outages and Internet connection problems, we recommend using a virtual private server (VPS) when trading. With VPS hosting, your expert advisors and signal subscriptions will work 24/7 even when your computer is in sleep mode or shut down. Getting VPS hosting is easy. It’s best to order it straight from your broker (most brokers, for example, AMarkets, offer this service) or from the MetaTrader platform (if that’s the platform you’re using).
• A desktop PC or a laptop is the workhorse of your workstation. First of all, to ensure that all orders are executed on time and modifications are made without delay, opt for a machine that uses a fast processor and has enough RAM.
• Use a good monitor with high resolution to view charts, indicators, trading robots, the list of trading assets, etc. Professional traders prefer large monitors over small laptop screens. Large screen sizes make charts more precise and allow you to see more details. Although modern laptop screens are quite suitable for trading transactions as well.
• Your keyboard and mouse are also your essential tools. If you’ve ever faced issues in making your trade successful due to your slow or relatively poor-performing mouse or slow keyboard, you’ll probably understand why it makes sense to invest in reliable and good-quality equipment. If you are not a fan of wires, choose wireless models from trusted brands,
• The chair is also your top priority piece of equipment, especially when it comes to physical health. A trader spends most of the day sitting at the desk, watching quotes. Opt for an ergonomically-designed chair. To avoid developing or compounding back problems, make sure that your chair supports the lower back and promotes good posture. It should be able to support the natural curve of the spine. The seat height and the forward or backward tilt of the seat should be adjustable. Tip: test out the chair before you buy it and make sure it fits your needs.
• Desk. There are several characteristics to consider when choosing a desk: height, size, and desktop shape. The height of your should allow for a comfortable seating position, and the desktop shape will depend on your space. A rectangle desk can be easily pushed up against the wall to save space, or you can use an L-shaped desk to fit into a corner. As for the size, choose a desk that is large enough to provide the work surface that you need.
• Useful gadgets. These include a smartphone or tablet. Keep them at hand in case of any problems with a laptop or your PC. Make sure to install trading apps on your devices. For example, with the AMarkets mobile app, you can trade, manage your trading accounts and receive economic news and market updates.
Things to keep on your desk
Besides the necessary equipment and gadgets, don’t forget about the trading journal – a notebook, where you will make records of all your trades. A trading journal is essential to keep track of your trading history, analyze your activity and identify trading mistakes to adjust your trading strategy. If you think that paper notebooks are outdated, get an app like Evernote or Journey or use Spreadsheets.
And finally, and it’s quite obvious – keep a pen nearby to make notes or write down your trading results. Many traders use color pens to highlight the important parts of their notes.
Organized desk for maximum productivity
The order on the desktop is an important factor that can indirectly affect the results of
The right environment can have a huge impact on your trading. A cluttered desk can create the feeling of stress and distract you from work. It’s hard to focus when your desk gets messy and you barely have room to set down your computer or keyboard on your desk or when you have to go through all your mess to find that pen or a sticky notes pad. The best solution would be to go paperless. Instead of writing down notes and to-do lists on paper, use an app instead. Strive to ensure that everything is in its place.
When trading becomes your source of income, you cannot do without a special workspace. You won’t be able to take your trading to a new level sitting on a couch in front of the TV. Set up a nice workplace and keep it tidy. When nothing distracts you from work, your chances of trading success skyrocket.
This article provided by AMarkets.com: “Providing brokerage services in Latin America, Asia and CIS, AMarkets focuses on offering high-quality services and comprehensive support to its clients and partners. Our professional team is committed to finding innovative solutions and introducing new technologies so that AMarkets clients from all over the world could get the best trading conditions. Our experts take an active part in various industry conferences and events, where they discuss trends and prospects of financial markets.”
