Having a dedicated spot where you use your computer for work, gaming, trading, or other online activities significantly boosts your mental state. Most people realize this after they set up a room with the right tools and equipment. Although the changes are subtle initially, they become noticeable after a short while.
Why Do You Need a Trading Room
A trading room is not just about the optics but also the psychological and technological shift that can become your trading edge. In forex trading, fast internet and high-performance gadgets can distinguish between catching a trend and being on the wrong side.
A dedicated trading space also helps you adjust your mental state to the discipline and routine needed to become a successful trader. That mental shift from leisure to ‘business mode’ brings your mind into a state of focus and productivity. A dedicated space can improve focus and enhance your ability to make informed decisions. Now, let’s explore how to set up a trading space that fits your personality and gives you the best advantage.
How to Set Up a Trading Room
Whether a minimalist or maximalist, you can bring your style into your trading room without overtly affecting the purpose: a comfortable space to focus and trade. From the basics to furniture and devices, here is how you can set up your trading room from scratch.
The Basics
Like all things, you must get a few things to build upon. The five basics for your trading room are:
- Location: If you are renting an office space, using a room at home, or an outdoor space within your compound, ensure you find a location with a low-noise environment. If you are at home, ensure the room is semi-isolated from others, especially if children are present. Also, ensure that the room has few to no distractions. This could mean having a window away from traffic.
- Airflow: If possible, adjust an air conditioner to allow for temperature control as needed. This is good for your comfort and the lifespan of your trading equipment.
- General outlay: Every item and design in your trading room should be intentional and purposeful. Start with the general outline and consider what works best for you. For example, if you are left-handed, keep the things you use the most towards your left side. Ensure the outlay is uncluttered and allows for free movement. Maintaining an organized space can enhance mental clarity and focus. You can fix the flooring to your taste.
- Lighting: Since you’ll likely spend long hours in this room, it is best to fix your lighting. You can keep it simple with regular lights, especially on a tight budget. However, using ambient, task, and natural lights is good. While ambient light sets the tone for your trading room, a task light, such as a table or monitor lamp, helps reduce eye strain and maintain focus.
- Electricity Supply: Ensure the supply is stable and well-maintained to prevent accidents, power outages, and trading issues arising from such incidents. You may need to hire an electrician to install additional sockets where you want them or to connect extension sockets.
Furniture
The next step is to find the right furniture for your space. You need a desk and chair, followed by storage units and boards.
- Trading Desk: Your desk should be ergonomic, designed to adjust to your position. Many traders now use electric desks that can be adjusted with a button. Ensure the desk is wide and sturdy enough to support your devices and any additional weight that may be placed on it.
- Ergonomic chair: Health and safety experts recommend ergonomic desks and chairs due to the long-term effects of poor posture from non-ergonomic furniture. Purchase and install an ergonomic chair that supports your neck, lumbar region, and feet. This is non-negotiable for traders due to the long hours they may need to work.
- Storage and Cable Management: You need shelves or cabinets to store your books and documents, and cable ties and clips to keep your desk organized. The goal is to maintain a tidy, visually appealing, and hazard-free trading room.
- A Whiteboard: A whiteboard is one of the most essential pieces of furniture in your trading room. It can serve as your vision board, stage, and classroom, where you teach yourself. The benefits are mostly psychological; a whiteboard helps you visualize your goals, visions, and objectives, and can serve as a powerful visual reminder when you trade.
Devices and Equipment
Now, you can set up your computer and other devices. You’ll need:
- High-performance PC: Whether a personal computer or a laptop, ensure the device is high-performance, without lags or crashes. If you are savvy, you can build a computer or buy one that serves your purpose. Although it might be convenient, having multiple computers is unnecessary, so don’t put pressure on yourself. Verify that the laptop is compatible with trading platforms such as OANDA, TradingView, MetaTrader 4, and MetaTrader 5.
- High-speed Internet: Ensure the internet is always stable, fast, and reliable. You can have WiFi and Ethernet, or whichever is faster.
- Monitors and monitor arms: Larger or multiple monitors help you see charts in greater detail, especially on lower timeframes. You might also need a dedicated screen to monitor the news while trading. Opt for monitors with higher resolutions, refresh rates, brightness, and wide screens for the best experience.
- Noise-cancelling headphones, sound system: You can keep your trading room insulated from external noise and distractions.
- Ergonomic mouse and keyboard: These devices allow you to type comfortably and prevent arm strain in the long run.
Closing Thoughts: Own Your Trading Room
For aesthetics, you can add large-print quotes and artworks to complete your trading room setup. As a general safety precaution, always keep a fire extinguisher handy. Own your trading room and let your style be evident. Remember that you will spend most of your trading journey in that room, so make it as comfortable as possible without sacrificing productivity.
