Yes and also at home, you are subject to lot more distractions than even if you live alone and somehow when you are isolated and too lonely, you are more susceptible to distractions than if you are in public places when there is actually activities all around you. LOL It's really weird. Unless you can find libraries that provide network cables, you will have no choice but trade on Wi-fi and I find it adequate if you can find a library that has routers with enough bandwidth and strength. In my case, I traded on laptops and I thought that was enough. I didn't find it that practical though to carry an extra screen. To me I didn't need it and second it would be quite cumbersome to carry around plus it occupies space which would not be that welcomed by other library patrons (after all you are in public space) and third you would have to constantly have to find power plugs so you would be quite limited in where you can sit. If you need to trade with extra screens, then you might be better off trading from home. Just sit by the windows when you trade then perhaps. Enjoy trading!
Completely agree. The mentioned library did have cables, but I never got them to work, so... To clarify - I am talking about an extra LCD 15/16" screen which is powered through the USB on my laptop. I've carried one of these with me to the library in the past. No problems except feeling a bit weird. 2 extra screens might be pushing it. Thank you for your input, JSOP.
Libraries are OK for a few hours but not for all day like 8 to 5 type of work because you will eventually need to go to the bathroom or something like that and that will require leaving your computer (laptop & extra screen) unattended. Simply, no wise to ask a stranger to watch your computer while you go to the bathroom. In addition, for security & privacy...don't use the library WiFi. Get your own portable WiFi and you'll be able to trade from anywhere outside of your home. In addition, if you're using a 2nd, 3rd portable screens...get a special oversize briefcase or carry bag for your monitors. I have a Gator Padded Nylon case and one Gator hard case for carrying my monitors when I plan to trade away from home. I've done the rented office thing when I lived in the U.S. Also, rented a co-work location a few times and done the library thing too when my home was having renovations...all ok and I needed to do just in case I had to do it again in the future for whatever reasons. Yet, the purpose for the office space or co-work was to trade with others...not for socializing or to be with others. I have kids and they often come home for lunch when the weath is nice...plenty of socialization there. Thus, I don't need to rent a space (pay more money) to socialize with others. Simply, renting a space for me is strictly because the home office was not available. Also, be aware that some libraries allows you to reserve a private room for free...you just need to show your library card and obviously it needs to be planned (reserved) in advance. You need to know exactly what you want/need and then do it. If its about "socializing" or being around others in an office like environment...co-work place is the solution. In contrast, if its about having an alternative place to trade and to get away from your home for whatever reason...library is suitable for a few hours per day assuming you have a portable WiFi and special carrying cases for your monitors. Yet, if you're just looking to get outside...look into converting your patio space into an outdoor office space or even an office tent depending upon where you live at. The latter (office tent) I've seen before in the military and civilian life...very portable but a ton of work to setup. I've even toyed with the thought of having an RV converted into an office space for trading. It would allow me to trade from any parking location where I liked the view or traveling. The thoughts about such occurred when I recently saw a Mercedes Sprinter van converted into an office...parked at a pharmacy next to my car. I was blown away at what the guy had inside when he open his side door. wrbtrader
Oh I see. If there is cables available, I would prefer to use cables as it is always more secure than wifi and more reliable. As to the screens, I dunno. I would just bring my laptop and that's it. Another thing about trading in libraries is also mobility and a sense of freedom in that you can be anywhere and trade from anywhere. Carrying around extra stuff other than my laptop to me hampers the mobility a bit. What if you have to go to the bathroom? Who's going to watch your screen? You can lock down your laptop to the desk but how are you going to lock down the screen? But if you feel comfortable with it, then go for it. Have fun!
Thank you for your detailed reply, wrbtrader. I have my girlfriend over today and I notice it fulfilling my very small social needs. Yesterday I was more restless and felt the urge to leave the house. The problem with a GF (and I imagine kids also) is that it's a distraction.
It usually wasn't a problem in the past when studying at least. I'd just load a few books on top of my computer and leave for a brief moment. If going out for a long time - I'd just bring it with me. It's a bit different when having live charts up of course since you may not want to turn things on/off during a day trading session. In my current library I would actually not feel uncomfortable leaving things unattended, although I know theft have happened there. I usually get to know a few people wherever I am and then just give them a nod and ask if they could keep an eye on my stuff. You too, pal!
Unless you trade longer time frames, for me a public lounge or place would not work. Too much distraction, rather would pay for an office place and trade. Sharing wifi and strangers peeping over and asking questions just to pass the time are all distractions. Trading is not a social event or people job, its for the solitary or loners or atleast like minded people doing the same thing.
Absolutely agree. Would not consider trading in a public lounge or crowded place. The library I'm talking about may be different than what you guys envision. It's very quiet and have a zero-tolerance for talking. But the ideal would obviously a dedicated office space.
Now and then I take my laptop to a local café which has a decent WIFI, makes a change to be in a different environment, but it's more just monitoring swing positions, not scalping/short term trading. Haven't tried the library idea though.
Me too. I have a dedicated home office that is my primary office. We live in a gated community with a clubhouse that has wifi, conference rooms which I use on occasions and socialize with my neighbors. The Starbuck is my "third office". Met a lot of interesting people, many regulars doing "projects" at the Starbuck.