I just started trading my own account from home, having five+ years trading at two props. Here's my question for those of you who do the same (trade from home)... Do you like it? Do you interact with other people (ie...telephone, chat room, etc...) during trading hours? And for people who have traded in an office with others, and at home... Which do you prefer? Reason I ask is that I don't necessarily like sitting in my house by myself all day. Recluse. Head straight to the gym when done trading (1. assures me of seeing/talking with other people for the day, 2. forces me to shower on a daily basis).
>>> Do you like it? Yes. Very much. Distance to commute to work: 10 feets instead of 30 miles. >>> Do you interact with other people (ie...telephone, chat room, etc...) during trading hours? No. Except calling my brokers when things go wrong or to ask questions. Other people (that I know) cannot help me trade. I suppose it is helpful if there is close circle of trading pals you can draw on... their expertise, or share information with people who really understand. Humans are social animals after all. But those are hard to find. I mean... they are not "hard to find". There are thousands of trading rooms. But those are run by people who want your subscription dollars and many of which do not provide what you need. I can do better than what they showed they do. So...
lolz I'm talking to you people and others over the internet all the time when I'm trading I plan on working from home all my life most of the time if I can get away with it, I think it's perfect because it lets me focus on other stuff as well like practicing art while I watch my trades and you don't have to deal with bosses or any other crap like that in the usual work environment. Self-Employment for the fucking win.
I traded in an office 3 years and then last 11 at home. Pros and cons to both office vs. remote (home) although it depends on personality and personal preferences. - At home there's no commute to office. - At home I typically run before the market opens (this I get my shower). - At home you can take off for an errand, a run, whatever if you want and get back to trading later in the day. Less opportunity (more disruptive) if you're at an office. - At office you're around other people. That can be a plus or minus. I cam to dislike the 'distractions' of hearing guys bitch and moan about losing trades and getting loud when they had a big winner. I need more focus so leaving the office wasn't a biggie. - At home is more reclusive but I do interact with some guys online throughout the day. I prefer remote but someone who 'needs' more social interaction might need the office environment. Bottom line is what venue gives you a better P&L?
I trade from home. Solitude is its major drawback. I can't imagine trading in an office with other people since that would be an absolute distraction. I rarely interact with others during trading hours unless it's slow or I'm taking an extended break which is rare. Interaction with people is for after 4 PM EST. Apart from the financial benefits, the advantages of trading from home far exceed doing anything else (time, employer/co-worker hassle, expense, commute, etc.) I expect to lose the ability to speak within a few years
Traded in an office 6 years, been at home for 5. When I was at the office with 50 other traders, I wasn't talking much anyway because trading can be like speed chess in 3D. You may find that other people are around, but between the opening and closing bell, you're not doing much socializing anyway. After work is cool, though, because - instant frat house. How do other self-employed traders get health insurance? I finally got the insurance through my state which was half as much as regular health insurance.
Sure solitude is not the best part, but you can make up later during the day and meet whoever you like. Hopefully you can find other reasons than take a shower because you go to the gym. Trading is not a team sport where everyone is happy to help each other so everyone makes a bunch of money. You are on your own.
I love the solitude. I used to work in an office (not trading) and the people were great. But I know my personality -- I just don't like to socialize much. Most important -- be honest with yourself, don't just think you are supposed to be some way because that's how most people are or it's what you've been told. It takes a lot of self-reflection.
What other benefits can you get from the state? Some guys said they collected unemployment while trading, but I've always been self-employed (can't get it). Any other tips for self-employed traders?