Tired of Trading From Home?

Discussion in 'Professional Trading' started by NTMtrader, Aug 24, 2010.

  1. NTMtrader


    I have been trading full-time from my home (basement) for about 6 months now. I find it to be rather lonely, even though I have access to trader chat rooms, audio floor feeds, etc. I need "trader interaction".

    I am considering opening a trading floor: providing desk, computers, high-speed internet access, etc to other traders of similar concern. Traders can use their own computer (if preferred); use their own trading platform/software; and of course use their own capital (not interested in starting a prop firm). Just looking to offer other traders a chance to interact, share ideas, and socialize in a "live" environment.

    If you are in the Washington DC metro area and have an interest, please let me know. Send me an email: NTMtrader@gmail.com

    Any other traders that have experienced similar concern or have advice on the feasibility of this please share.
  2. What is your definition of trading floor - 3 guys in a basement?
  3. bigb


    better than 1
  4. exaltedangel09

    exaltedangel09 Guest

    this seems so wrong on so many levels --
  5. wrbtrader


    Here's my personal experience...early in my trading career I lived in an apartment and traded full-time as such for about 3 years. Yeah, it was too quiet for me and I it almost felt like I was lazy.

    Anyways, met a few guys from a tradestation group (at that time it was called Omega Research) and we got a small office big enough for 5 trading workstations. We split the rent and at some point there was only 3 of us (2 blew up) but spent most of the time at 5 traders sharing the office expenses.

    Later I got married and moved to my spouse country and now trade out of a nice basement office in my house. Anyways, it's not quiet nor lonely this time with kids playing all over the house.

    However, I do miss the office away from home and the in person trading interaction. Thus, when the kids get a little older (spouse doesn't need as much help)...I'll be doing what you're doing right now...trying to find others and looking for a shared office space.

    Recommendation - get to know those personally for many months prior to setting up shop with. For example...two current traders I know in my area that are interested...I've known for about 2 years (one trades from home and the other once rented a trading spot in a "trade arcade"). Will be looking to find 3 to 5 more.

    I did the same with those many years ago in that rented office space...personally knew them for several months via the tradestation group prior to taking that leap into a shared trading office.

  6. My solution to this problem when I was starting out was to rent space in an office co-op - what would now be called co-working. They weren't traders, but it was very cheap, no commitment, gave me a place to "go" to work, and gave me a slowly changing roster of people to hang out with. Plus when I had a bad month it gave me a way to wrangle up a contract programming gig.

    Being with other traders might have been nice, but it was a good set up and I sort of miss it.
  7. Dear OP . . . .

    Read this post 100 times . . . and take it to heart!!!
  8. NTMtrader:

    Are you sure you want to do this?

    How likely are you going to find 2 or more traders with similar mindset living in relatively close distance?

    The overhead. Right now you are already covered. The moment you rent out an outfit, you will start to pay extra rent, electricity, management fee, furniture, phone, internet access, the whole 9 yard. If/when your trading partners are chickening out, you will be left with these expenses.

    If all you want to do it trader interaction, maybe for a skype group or something. Make a daily conference call. Put your buddies' voices on a speaker phone that has a mute feature. You can share trading ideas without the overhead of a "trading room". This way you can have a virtual mutual-support environment with no expenses.
  9. Boib


    I found that a skype conference call did the trick.

    Got to carry on a conversation with like minded traders and still had the option of taking time away from the other guys for part of the day.
  10. pspr


    Move out of the basement to the top foor with windows. Only teenagers live/work in the basement. And, get a dog!

    Not the answer below!!!! Best post of the day, though.

    #10     Aug 24, 2010