Any experience hiring office space as a lone trader? Worth it?

Discussion in 'Professional Trading' started by Howard, Apr 12, 2019.

  1. Howard

    Howard

    Hi all,

    I'm looking into the possibillity of hiring office space for my day trading operations. Ideally with other traders, but not a necessity and maybe not so easy for me to find as traders are limited in numbers where I live. It seems like most office spaces here are geared towards start-up companies and other independent professionals.

    I'm not seeking someone to chit chat with during the trading day, but I find that I like getting out of the house and at least seeing other people. When I was taking my degree I spent most of the day in solitude, but in company with other people in the library. It was nice to be able to talk to someone when grabbing a coffee or taking a piss, but then return to solitary studies in peace.

    Being completely isolated alone at home can be tough in the long run. I speak from past experience. Now that I'm doing this full-time, I want to make sure it's sustainable and enjoyable in every aspect of it.

    I'm leaning towards at least trying it, but need to sort out where I'm staying come this fall. I might leave the country altogether, but that's a different thread... :)

    Any experiences to share here?

    Regards and thanks.
     
    VPhantom and ktmtrader like this.
  2. fan27

    fan27

    I am paying $125 a month for a co-work space where I have 24/7 access but do not have a dedicated desk. It is a bit more for a dedicated desk or office. It definitely has a social vibe and I have had good chats with the other members. Sounds like you might benefit from this sort of setup.
     
  3. Overnight

    Overnight

    I don't have any experience in doing it, but it is an idea I myself have thought about...

    The idea of setting up yer trading gear in a little office in a shared workspace, that you have to travel to each day, rather than working from home, has some appeal in my mind.

    You have a commute, so it seems like a more "normal" career. You can take a break and interact with other folks in other industries at the water cooler/break room. It could give the mind some refreshing "reset" time.

    If the commute is not too ungodly long, and the rental price is cheep, it certainly seems worth it to try for a bit.
     
    tenny1886 and Howard like this.
  4. ktmtrader

    ktmtrader

    In what City are you located?
     
    Howard likes this.
  5. zdave83

    zdave83

    My bigger challenge is how to get health insurance. In US the Healthcare Exchange works but very very expensive, even for mostly catastrophic coverage. Any suggestions ?
    Besides just don't get sick :)
     
  6. oraclewizard77

    oraclewizard77 Moderator


    Well, I got California Care, but it needs to be approved each year so we will see if I can get it approved again or not. I would suggest working from a state that supports Heath Care probably a Democratic state. Health is like Trading, in that you need to find an edge that works. Republicans don't like Heath Care and rather have people die on the streets.

    Also, there are patient assistance programs to help you afford certain medicines so if you need something don't just assume u can't get it because it costs too much.
     
    Last edited: Apr 13, 2019
    sle, billv and VPhantom like this.
  7. zdave83

    zdave83

    Appreciate the response. And Howard ... I didn't mean to hijack your thread.

    FWIW ... there's a Democratic state about 30 min from me and its no better. Unlike water, electric, gas, rail, telecom, financial insurance and other oligopolies ...... no one seems motivated to regulate this service so that smaller purchasers aren't left to be abused by the providers ... just because they can ($$$). Even at the crowning achievement of the Healthcare Exchange, I'm paying close to double what I paid under COBRA ... and the coverage is terrible.

    Not much of an achievement :(
     
    MarkBrown likes this.
  8. Howard

    Howard

    Cool. :)

    Do you use this on a daily basis or just when you feel like it? Since you don't have a dedicated desk - does this mean you work only from a laptop or have a mobile solution somehow?

    Are there other traders in your building or is it more a mix of various types of professionals?
     
  9. Howard

    Howard

    Oslo, Norway.
     
  10. Howard

    Howard

    Another solution I've considered in the past is to simply take a few days in the week and trade from my local University's library which I mentioned in the first post. It's a silent place, but filled with people such that it satisfies my social needs. There's also a coffeeshop in the building and I find it easy to get in touch with people.

    The problem is internet connection. It's a wi-fi. Not sure if that's a good idea considering that I'm day trading. Not very low latency stuff, but still a potential issue, I think. Maybe it could work if I utilize a mobile connection instead (or as back-up)?

    Another problem is that I'd need to bring extra LCDs with me. But might be able to live with that.
     
    #10     Apr 13, 2019