If you want to be successful in trading you are going to have to find a lot of things: your strategy, several brokers, trading signals provider and so on. But one of the most important things that you are going to have to find is space. Space for your trading. And even though most of the brokers are offering the possibility to trade on-the-go it is still the most comfortable to trade behind your computer.
Organizing your trading space is a challenging endeavor and there are several things that you can’t afford to overlook.
Here is what you absolutely must have in your trading space besides your computer.
1. Printed strategies.
2. Ledger.
3. Brokers descriptions.
4. Calendar.
5. Alarm clock.
6. Headphones.
1. Printed strategies.
Sometimes you have an idea about a certain strategy. And you need to either confirm it for yourself or deny it. That is why having different and most used by you trading strategies bullet-pointed, printed out and pinned where you can see them. Of course with time you are going to memorize all of the quirks of all of the used strategies and you are not going to need the print-outs anymore. But in the very beginning they are going to prove to be very useful for you.
2. Ledger.
History of your trading, all of the difficulties, ways you overcame the complications and results of every decision – that is the history of your success that can prove to be irreplaceable in any given moment.
That is why you not only keep a ledger in your trading space but also save all the ledgers from your previous trades.
3. Brokers descriptions.
To be really successful and to look like a pro you are to have several brokers. And with several trades in the works you might just forget what traders offers what and where each trade will be the best suited. That is why keeping bullet points and descriptions of every broker somewhere near your trading strategies is a must.
4. Calendar.
Of course with the possibility to set alerts and to write everything down into your phone, paper calendars where you make a note with a pen are dying out. But still, for me they are way more comfortable. Plus, it seems nice that in our tech-ruled world you can do something with a regular pen on a piece of paper.
You need to write down reports dues, news alerts and various other things which are going to influence your trading.
5. Alarm clock.
What? Are we going to sleep in our trading zone? Well… technically you can catch a quick nap at your desk every now and then. But in the end it is going to kill your spine. So I would not recommend that. Especially given that with all that money that you have earned overtime you are probably buying the most comfortable queen-sized bed, so there is no need in sleeping at your desk.
No. You are going to need the alarm in order to be prepared for our power signals and other various alerts that we are go send.
You are also going to need to keep track of the phone calls that you are going to receive from you broker or signals provider agent.
6. Headphones.
Find a playlist that is going to help you concentrate, plug in your headphones so that no one would bother you and trade away. Create the best space with the best music you can possibly imagine suited for the job.
All and all you have all the tools that you are going to need to create the best trading space where you are going to earn thousand and quite possibly even millions of dollars!
