I am currently in search for office space to trade in a more professional environment. I am in two minds over whether I should rent a desk in a co-working, open-space office where other people could see my screens, or opt for a private room at a serviced office building. It is not about the cost as I could afford a private room. However, something tells me I would be more productive and focused when other people are watching. Would you be happy for someone else to see your trading screens? Would working in a co-working office influence your results negatively?
Co-working open office will definitely be of help. I have a floor of traders, where traders openly share their trading ideas as well as the positions they hold. It helps tremendously. None of my guys complains about their screens being "too exposed." So far my experience proves me right. Traders are more productive that way.
Experienced traders won’t care about other nearby screens. Their method is so engrained it will be extremely hard to change. Good and bad behaviors are fixed. Bad behaviors need platform help where algos circumvent bad decisions.
I would understand your point if that considers a proper tradng floor. However, what if your co-workers are not traders but programmers, graphic designets etc.? Would it not be a distraction?
Only if you have PriceSquawk on speakers instead of headphones. Buy buy sell sell bid hit offer lifted...
I started my FX Fund from a coworking space for 9 months to get access to google fiber and it worked out great! Now we operate the fund from our own office with google fiber.
In this situation you're in a room with others that are doing other things for there business. It doesn't matter if they see your screens; they won't know what it is anyway. I would say find a nice cafe and make it a routine to show up at the same time, grab a coffee and hit the charts. If you must have a dedicated desk because of your PC + multiple screens, get a co-working space, but make sure to first be on the lookout for other traders interested in sharing a space. I've found this to be beneficial; usually each trader is watching multiple markets -- more eyeballs on the charts. I just purchased a private office in a fully managed building but that's because I need to make trading videos and phone calls which isn't possible in a shared space. Where are you looking?
I used a dedicated office in the coworking space where I could lock the door and keep my items secured when I left for the day.
Co-working (with non-traders) Pros: - helps maintain adequate focus levels, avoid laziness and boredom - cheaper option - no long-term contract required Cons: - behaviour of co-workers might be annoying - you need to wear headphones - you need to lock the screen/log out of the front-end platform when you leave the room - not possible to make or receive phone calls - personal belongings and expensive IT equipment less secure - revealing your trading screen - might be detrimental to your performance - especially when strangers can see your P&L Private office Pros: - your trading strategy remains secret - ability to make or receive phone calls - no need to wear headphones - no need to lock the screen when leaving your workstation - your equipment is more secure Cons: - more expensive - might create a too comfy environment to focus on trading efficiently enough Anyone sees any other pros and cons?