If you are a new day trader looking to make as much money as possible as quickly as possible, the right office setup is incredibly important. You need to be comfortable and prepared in your home office as well as be equipped with the proper tools and equipment to make the absolute most of your endeavour as a day trader. It does not have to be difficult but it is definitely necessary and will make all the difference in your success. We’ve outlined some of the major preparations to make before launching into day trading, including the proper set up as well as timesaving ideas such as the hiring of couriers so that you can focus where you need to most.
A Good Computer
The most important thing that you will need as a day trader is a good computer. Of course with technology ever changing and advancing, the definition of a good computer will change and an upgrade will likely be needed every few years. The major specification to look for when purchasing a new computer is the ability to support multiple monitors. You will want at least two monitors or more if you are trading multiple assets or trying to focus on several stocks. It will be far too time consuming to try and click back and forth between stocks. A good laptop can also be used so long as it can be connected to an additional monitor.
A Large Desk
A good desk with plenty of space for monitors and paperwork as well as a comfortable chair are the most obvious items your home office will need. You need a stress free space so keep clutter to a minimum and don’t be afraid to spend a little extra on a chair that doesn’t leave you hunched over or with a sore back. Have a separate space available for important paperwork such as outgoing mail, and consider the use of couriers Manchester for picking up and delivering any packages you need sent so that you can stay put and still get important packages and letters out in time.
Choose a Broker
Once the actual office space and computer and set up, it’s time to find a broker. You’re day trading to earn an income, so when choosing a broker, remember to look for a cheaper one. By that same token, you also need a broker who is supportive and can step in when needed, so you may want to spend some time looking for a decent broker at an affordable price.
Keep a Calendar and a Schedule
Working from home requires extra planning and discipline, so set a daily schedule and stick to it. Keep distractions to a minimum and since you will need to be at your home office during the day, outsource as many of your errands as possible and have them set up ahead of time to allow yourself to stay focused.
Do you work from home as a day trader? If there’s anything else you would like to add, please let us know in the comments.