Rent an office or trade from home?

[wrbtrader]

I know a very good trader who trades from his local coffee shop. Turns up at 8am and leaves at 4pm.

There's an old thread here at ET about those that do such. I was surprise to here there were a good number of ET members that traded brom coffee shops, libraries or other public locations that had free internet.

I've seen some very nice libraries with secluded areas, tables, nice chairs and internet. Not sure about the internet security especially knowing there are others sharing it with you and you don't even know whom they are or where they're located at in the library or coffee shop.

Last coffee shop I visited to get my kids some donuts was Tim Hortons. I saw about 6 people using their laptops and connected to the internet. I wouldn't try something like that...too much security issues.

Kind'uv reminds me of the ET member that bragged that he does it and that its just paranoia to worry about the internet security. Less than a year later he's complaining here at the forum of possibly being hacked and that someone accessed his account.

 

[Xela]

A mi me gusta hacer panecillos llenos de aire caliente y negociar burbujitas desde mi cocina.

That's easy for you to say (I hope).

 

[lovethetrade]

I know a very good trader who trades from his local coffee shop. Turns up at 8am and leaves at 4pm.

If that's what relaxes him and allows him to concentrate then no reason why that can't work

 

[marketsurfer]

I know a very good trader who trades from his local coffee shop. Turns up at 8am and leaves at 4pm.

I must admit, the lease a ferrari rather than rent office space idea was not original-- Baron published this idea first and he suggests working from starbucks in his earlier article

surf

 

[BisonQuote]

My idea is to be based in my own residential property with a trading room from Mon to Fri, and then go away on weekends to change the environment and maintain mental health.

I know this sounds good, and it is even economically-sound,
but, and this I learned the hard way, if you do this it is hard to keep discipline and focus, and if you are not absolute Trading-newbie, you already learned that this two things are Absolute-Must-Have.

So, my advice is get an office, so you will get up each morning, and go to place where you just trade; no distractions, no Facebook, no nap after lunch.
Just you and the Market.

 

[lucysparabola]

I leased a tiny office (I'm talking 10x14, no windows) in the wealthiest area of town. I have two clients that I trade for that don't even live here. I also have a 1yr old boy and 2 stepsons at home. My trading drastically improved when I had my own dedicated space to work in. I have 24hr access and the rent is nothing per month, with blazing fast fiber wifi included.

It depends on everyone's situation, but to say that it's a waste is being shortsighted.

 

[tradethetrade]

Rent the office if you can afford or consider joining a prop firm first.

I traded from an office and here is what I learned:

Budding traders to push you.
Budding traders to teach and mentor.
People to talk to, keep you motivated and socialize.
No distractions from home. Wife/cats/dogs/kids/fedex delivery.
You get an extra room in your house.

It's not fun to spend 8-10 hours stuck in your home office and talk to no one for years.

 

[Xela]

It's not fun to spend 8-10 hours stuck in your home office and talk to no one for years.

These things are all very subjective, and a matter of personal preference, believe it or not. Some of us actually like that, and avoiding working anywhere else just so that we can maintain it.

It's turned into rather an odd thread: the OP asked his question as if convinced that there must be an "objective, right answer", and sure enough people are responding with all the "appropriate" certainty, as if their own perspective is the only reasonable one, regardless of anyone's personal preferences and circumstances.

Must be the "law of attraction" at work, or something, I suppose ...

 

[tradethetrade]

These things are all very subjective, and a matter of personal preference, believe it or not. Some of us actually like that, and avoiding working anywhere else just so that we can maintain it.

It's turned into rather an odd thread: the OP asked his question as if convinced that there must be an "objective, right answer", and sure enough people are responding with all the "appropriate" certainty, as if their own perspective is the only reasonable one, regardless of anyone's personal preferences and circumstances.

Must be the "law of attraction" at work, or something, I suppose ...

Agree 100%. It is only my personal opinion. By now, from the number of answers, the OP must have identified with a few commenters here.

What is it going to be Lukas?

 

[marketsurfer]

This is interesting.

This office landlord is making real money on nearly empty space in NYC's hottest address
http://www.cnbc.com/id/104457450

http://www.servcorp.com/en/virtual-offices/prices-locations/new-york-city/one-world-trade-center/