When putting together an at-home trading system, it’s important to outfit your office with essential tech standards. These tools and equipment are important to prepare you to make trades anytime and anywhere you can find an internet connection and have your laptop or tablet nearby. These important tech standards will get you set up and ready to go so you can spend time on your trades and less time worrying about how to get started.
Trading Office Essentials
As you launch your trading career from your home office, make sure you have what it takes to get the job done. By starting out with high-quality equipment and the fastest connection possible, you’ll be able to make better trades than ever before. Use your new trading system to take the industry by storm as you sit comfortably from your home and earn more money.
Read on and be sure to outfit your new home office with the following five trading essentials:
1. Trading Computers
While there are a few trading systems that run on a desktop computer, trading requires major processing power. If you’re trading from home, you’ll need to have trading computers with multiple screens open that respond quickly. It’s also common for traders to set up a second computer specifically for placing trades.
This type of multiscreen setup makes it easier to move between your strategies, charting tech, and platforms so you don’t lose time trying to switch from tabs on a single computer. When looking for a computer, aim for one with enough RAM to efficiently run multiple applications simultaneously and upgrade to an SSD to cut down on boot-up time.
2. An Ergonomic Desk
A good computer desk is essential if you’re going to spend hours in front of a screen. You can’t be as productive as you need to be if you’re spending hours sitting in an uncomfortable position at a desk that isn’t right for you. Prioritize comfortable seating by investing in an ergonomic desk. Make sure your new desk has a tray that helps your arms rest correctly and make.
Additionally, your ergonomic desk should ensure there’s enough room for multiple monitors so they aren’t too close or too far away. Consider adding an anti-fatigue mat underneath your feet and legs to decrease muscle strain throughout your body, allowing you to trade as long as you need to during the day or night.
3. Scanning Software
Scanning software is an important addition to your trading setup. This software makes it possible to create a list of the stocks you hope to trade. In today’s world, many trading systems or charting platforms offer scanning options.
If your only interest is in equities and ETFs that are listed on US exchanges, experts recommend downloading ThinkOrSwim (TOS) as your scanning tool.
TOS is user-friendly and it comes equipped with almost every US equity available. Alternatively, if you want to focus on futures or forex strategies, consider NinjaTrader by TradeStation or Finviz.
4. High-Speed Internet Connection
Fast Internet is another must for trading effectively. Always avoid a slower dial-up connection, as it will add unwanted delay to your trades. Experienced traders recommend using an Internet connection of 1.5Mbps or faster.
If you need to upgrade your Internet speed, check with your provider and make sure they offer high-speed service in your area before signing up. With higher-speed internet, you’ll be able to utilize devices like a wireless router and increase your connectivity options even more.
5. Charting Software
Charting software is a must-have for any trading system. This type of software will help you get information about your account in a matter of seconds. Most of these programs are web-based and allow traders to analyze their data from any computer with an internet connection.
These easy-to-use tools can provide key insights into market behavior and help determine what trades should be made, depending on everything that is happening in real-time.
With the power of tech, it’s a possibility to trade from home, at work, or even on vacation. Make sure your home office is equipped with the essentials to make trading from home easier than ever.