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Nial Fuller

NIAL FULLER
Professional Trader, Author & Trading Coach

Setting Up A Forex Trading Room To Improve Trading Results

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By in Forex Trading Tutorials Last updated on | 37 Comments

trading-roomIt’s very important to your long-term trading performance that you have a proper area in your house to trade from, because your environment has a direct influence on your mindset, and your mindset has a huge affect on your overall trading performance.

This article will teach you how to set up your trading room or office and adjust your lifestyle to achieve optimal trading results.

Every trader has a slightly different living situation and budget that has an influence on how they setup their trading room and what equipment they decide to use.

Ultimately, no matter what your specific situation is, you should aim to design your Forex trading room or office with just the right combination of practicality and comfort.

• Forex trading furniture

The furniture that you use to trade from is very important. If you have enough room in your house or apartment, you should definitely have a decent size computer desk to trade from. L-shaped desks that you put in the corner of a room seem to work very well if you plan on having multiple monitors, or if you just need more desk space in general. Otherwise, you at least need a desk big enough for a laptop. If you have absolutely no room for a desk, you can buy a small platform to set your laptop on so that you can comfortably work with your computer on your lap without it getting too hot.

The next major piece of trading furniture that you need to consider is your computer chair. I personally recommend investing in a high-quality computer chair. Having a comfortable computer chair to trade from makes the time you spend at your trading desk much more relaxing and enjoyable; you don’t want to be sitting in a chair that causes you pain or that just isn’t comfortable, this is not something you need distracting you from the process of price action analysis. If you are crunched for space you may simply elect to get a bean bag chair and throw it in the corner of your room or dorm, but whatever you do make sure you have a comfortable place to sit while trading and studying the markets.

One very important point to consider is that a clutter-free work environment helps foster a clutter-free mind. So, when deciding on your trading desk and the area you will trade in; make sure you arrange it to be as clutter-free and clean as possible.

• Computers

There are many options when it comes to which computer you will use to trade from. However, there are some basic guidelines that you should follow when considering the computer(s) you will use to trade the Forex market.

First off, you want to be sure that the particular computer(s) you use is robust and relatively new, has an up-to-date antivirus/firewall, and can handle incoming data feeds in real time while running other applications. The last thing you want is for your computer to freeze up as you are trying to enter (or exit) a trade. Basically, you want to make sure your computer is in a good running state before you start trading from it, you definitely do not want to skimp out on quality when it comes to your main trading computer. Newer and faster is definitely better when it comes to computer hardware, you can get a good machine with plenty of memory, hard drive space, and processor power for relatively little money these days.

As far as how many computers you need to trade with; you at least need one reliable computer, and if you only have one it should ideally be a laptop. Ideally, you will have at least two computers; one desktop and one laptop with a good battery life, if the power goes out you are going to be really glad you have a laptop with a good battery, it may be the only way to get out of a trade if your house or office loses power. A laptop also provides you with mobility, you can trade from anywhere with an internet connection and a laptop. If you don’t have a laptop then you should buy a UPS (uninterruptible power supply), which will provide your desktop computer with electricity for a period of time if the power does go out.

I personally prefer PCs, as I have heard traders sometimes have problems running trading software on a Mac; this often involves having to install virtual PC software so that you can run Windows on the Mac. However, Java based trading platforms typically have no troubles on a MAC, nor does web-based software.

• Monitors

If you can afford to get multiple monitors then you should definitely consider it. It can be helpful and more enjoyable to have one monitor for just analyzing the charts and another for placing trades and viewing quotes. However, this is by no means necessary, and it’s really just a luxury thing.

Also, there is the argument that traders with numerous monitors become “data junkies”, which can distract you and cause confusion. Limiting yourself to one monitor will force you to focus your attention on one thing at a time and help to eliminate the possibility of “analysis paralysis”, this is especially important early-on in your trading career, and then as you gain experience you might decide you are ready for a multi-monitor setup.

• Internet and T.V.

Trading is all about data; you need a fast internet connection for incoming live data feed and fast trade execution. You cannot afford to have a slow internet connection or an unreliable one while trading. If you can get a better connection speed from you internet service provider, you definitely should do so, I suggest getting the fastest and most robust internet connection within your budget. Some traders chose to have a back-up dialup connection; however this is unnecessary as long as your primary provider is robust.

There is no need to rush out and spend money on premium charting platforms or data feeds; most of what you will need is available online for free. You can download the correct New York close charts here: Forex trading charts and many websites such as Yahoo!, MSN, and Reuters are excellent sources of news and investment information. What you do not need is a T.V. in your trading room blasting CNBC or any other financial TV program, typically these programs are distractions because they are little more than opinions of “experts” who are probably better commentators than traders.

• Office supplies

Now, let’s discuss some of the “random” office supplies that you will likely need to have in your Forex trading room. First off, it never hurts to have a dry erase board; you can record your forex trading plan on a dry erase board and hang it on the wall your trading desk so that you are forced to read it every day prior to trading. Dry erase boards are also convenient for jotting down any number of important notes or ideas you may have while trading and learning to trade.

You are also likely to need a printer and scanner, as there will be times you may want to print out charts or account statements, you may also need to scan documents to send them into your broker, such as if you have a change of address. Printers are relatively cheap these days, I suggest getting a printer / scanner / copier combination, there are a lot of good options out there for these that give you all three items in one.

Some of the other random office products that you might need include things like post-it notes, a stapler, and a trading journal or perhaps a binder. As you learn to trade Forex, it’s important to keep a trading journal so that you can learn what works and what doesn’t; it also helps you develop a track record and keeps you accountable. You can eventually keep track of your trades in a spreadsheet, but you may want to get a 3-ring binder to print the charts of trades you take while learning, this will give you a tangible trading record that you can use to learn from.

• Creating the atmosphere

Most traders don’t give much thought to their trading environment, but the truth is that it’s very important, and considering most of us are trading from home, there’s a lot you can do to create a relaxing trading atmosphere.

One important point to consider is that if you have a lot of room in your house, you should try to trade from the quietest part of your house. A room that is somewhat secluded or away from the nosiest parts of your house or apartment is most ideal. The idea is to create a focused and relaxed atmosphere where you can concentrate fully on the processes of learning to trade and analyzing the charts.

You may want to hang a nice picture in your trading room, something that calms your nerves and is perhaps pleasing or motivating to look at. Music is another big factor in creating the right trading atmosphere, if you need to relax and “drown out” the distractions that might be taking place in your house, put on some relaxing music like jazz or classical, put on some headphones if you need to. Whatever music that you consider to be relaxing and(or) motivating, is good to listen to while trading the markets; whatever it takes to help you get into the “zone”.

• Other considerations

You need to consider your physical health as well. You cannot trade effectively if you are not getting enough sleep or are feeling physically ill. It is important to get rest, eat a healthy diet, and get some exercise, trading is not the easiest profession to excel in, so we really need to put the odds in our favor as much as we can. This means controlling things that we can control, like diet, exercise, and rest. You cannot control the market, but you can control your own mind, and part of maintaining a mindset conducive to profitable trading is taking care of your body, because the body affects the mind.

Finally, forex trading is a lonely endeavor. For the sake of your mental health you might want join an online trading community, because you might not have anyone else in your daily life that you can discuss your trading activities with. Plus, it’s always good to learn from others who are more experienced than you and bounce ideas off them. Check out my price action forex trading forum and price action forex course for more information.

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About Nial Fuller

is a Professional Trader & Author who is considered ‘The Authority’ on Price Action Trading. He has a monthly readership of 250,000+ traders and has taught 20,000+ students since 2008. In 2016, Nial won the Million Dollar Trader Competition. Checkout Nial's Professional Trading Course here.
  1. MUNGE August 13, 2019 at 4:36 pm

    Some points to be highlight patience is key ,not interfering with trades

    Reply
  2. Tom May 4, 2012 at 7:54 pm

    Thanks Nial.
    Am really encourage, though am new to FX!
    Great stuff, God Bless You.

    Reply
  3. Dillon May 4, 2012 at 12:12 am

    This is my first time here, and a lot of the information on your site fits me exactly! I have every single one of these problems…

    This article may have changed the way I look at the market, excellent stuff!

    Reply
  4. Sonja May 1, 2012 at 6:51 am

    You rock Nial, you are THE BEST mentor in the world!
    Keep it going!

    Reply
  5. slivester May 1, 2012 at 1:47 am

    thanks very2 much sir

    Reply
  6. Todor May 1, 2012 at 1:17 am

    You have my bow again, Nial! Everything you teach i find a piece of genius. I should only learn and apply. Thank you very much indeed!

    Reply
  7. julius April 30, 2012 at 9:02 pm

    Nial, All that you listed were the things that choked me.Thank you for always being there. May God bless you.

    Reply
  8. eileen khoo April 30, 2012 at 2:42 pm

    Thank Nial! You had just hit on my obsession and over-analyzing so much so that more often than not I just missed th trade. Will take note and work on that, thanks once again!

    Reply
  9. Kevin(Zach)Harper April 30, 2012 at 9:19 am

    Great Stuff Nial
    Have to totally agree….Be Patient…Be Patient….and then finally ask yourself …Is this really a quality trade setup ???

    Excellent Nial

    Reply
  10. anton April 30, 2012 at 6:33 am

    A++ Article. If you cant grasp the above points then their is no saving you from ruin.

    Reply
  11. pecsen April 29, 2012 at 8:02 pm

    Very useful article again, thank you Nail for your effort!
    In many cases I tried to be patient, but I wasn’t strong enough, so I did some mistakes:
    I checked the charts during working hours, I checked it on mobile phone and modified stop, limit etc. Like others I also do try to reduce the number of my mistakes,
    so first of all I decided to remove the trader application from my phone (however it was perfect, I loved it, but don’t need it), and I started to use weekly charts and the daily. Nowdays I take pending entry (stop, limit) orders and I don’t check the charts for one or two days. I will try to not change the view of the charts to 4h candle, the daily is much stronger and contains everything I need.
    And I wait to close the daily candles. I already haven’t read articles about economy for x month, I’ve spent my time with much more useful things (want to improve my english).
    I’m sure If I’ll not violate these rules, I’ll be much more successful in trading (of course by Nail’s price action) with less effort and less stress and with better english :) Sometimes you have to be strict with yourself (others will not be) during the road to the main goal. Just my two cents! Good luck! :)

    Reply
  12. Yusuf Hammed April 29, 2012 at 5:53 pm

    Nial you are a FX GURU you know how unsuccessful fx traders feel.Every FX trader most learn how to be Patient and looks for Good set up before they enter the market.I like you, you just keep it simple and make it simple.

    Reply
  13. Jerry Snyder April 29, 2012 at 11:48 am

    Hi Nial,
    as always you are right on – I know that I have to keep reminding myself and your timing is remarkable – thanks -jerry

    Reply
  14. Amio April 29, 2012 at 6:33 am

    Very true.What are the antidotes?

    Reply
  15. DRS April 29, 2012 at 5:45 am

    2 years is what it takes to work out the markets.

    Reply
  16. sez elabor April 29, 2012 at 4:25 am

    what can i say Nial? you are the epitome of a professional trader.. this artcle is splendid and good for traders.. you are the best Forex Mentor i have ever known.. thank you a million times..

    Reply
  17. Robert Meinecke April 29, 2012 at 4:21 am

    Thank You Nial for a Block Buster Article. This is exacttly what has happened to me and it is a wake up call for me. You really know how to hit home in such an easy understanding way. I really liked your “Holy Grail” desription about patience. Thank you again.
    Robert

    Reply
  18. Bhupinder April 28, 2012 at 11:42 pm

    Just Brilliant. Thanks for making things easier Nial.

    Reply
  19. AMIN MALIK April 28, 2012 at 11:20 pm

    NIAL! Thank you for being pretty serious in your MISSION of helping Traders at large. For sure, many of us are improving/ developing the proper MINDSET to become a successful TRADER. Your ability to get to the MEAT of the subject is IMPRESSIVE. Please keep coming. THANKS & REGARDS. AMIN

    Reply
  20. Jude FX April 28, 2012 at 9:32 pm

    your articles are very factual for anyone who can follow them. keep it up because you are changing lives!

    Reply
  21. Tay Jui Chuan April 28, 2012 at 8:23 pm

    Hi Nial,
    Thank you very much for this timely article and a very timely reminder.
    Thank you very much

    Reply
  22. hamish April 28, 2012 at 6:34 pm

    todays lesson is bang on and a must for all wannabe successful traders. great insite and knowledge to be gained for all. thanks Nial

    Reply
  23. Ramli April 28, 2012 at 4:52 pm

    Thanks n Cheers

    Reply
  24. John April 28, 2012 at 11:20 am

    Banks and institutional traders sit on the side line, why shouldn’t we. Thank you Nial Cash is a position.

    Reply
  25. Colin April 28, 2012 at 7:54 am

    Thanks Nial thats the best lesson yet. It somes me up what I used to do, But slowly breaking all my bad habits. I am saving all these 5 lessons & will keep going over them just to help me through some rough patches Thanks Nial Great Lesson

    Reply
  26. Oztrades April 28, 2012 at 7:42 am

    Well said. Just topped up my account and am sitting. Missed the big pin bar on the AUD/USD 4 hrly yesterday….. waiting for the next bus to hop on.

    Reply
  27. Isaac April 28, 2012 at 6:18 am

    Great write up, thanks

    Reply
  28. wilson April 28, 2012 at 4:06 am

    Nial excellent theme, the simple is better, thanks.

    Reply
  29. Russ April 28, 2012 at 4:04 am

    Nail on the head Nial!!!! You are a truth bringer!

    Reply
  30. dcsneeden April 28, 2012 at 3:19 am

    Excellent article Nial! If feels like you know all my struggles or maybe you have experienced all of these challenges. I definately need more patience! Thanks.

    Reply
  31. inder sachdev April 28, 2012 at 2:18 am

    Simply amazing!

    Reply
  32. Zahid April 28, 2012 at 1:58 am

    Great article as usual. Scanned the brain, thinking and psychology of the newbi. I have learned a lot through it. Thank you Nial.

    Zahid Malik

    Reply
  33. flash April 28, 2012 at 1:36 am

    I dont often post comments, but it is warranted this time. This one is a duizzie! 10/10! Well done Nial.

    Reply
  34. Pham April 28, 2012 at 12:59 am

    Great article, very useful, I like it a lot, thanks Nial for that!

    Reply
  35. Jeevan April 28, 2012 at 12:33 am

    well said, a lesson to be followed and applied for each traders on their trade, as you always say keep it simple and short – is the key to success i always believe, nice work again,, may this lesson awakes someone

    Reply
  36. Kimbo4x April 28, 2012 at 12:32 am

    Great article. I believe overtrading is part of our “work ethic.”

    Many of us think that if we don’t trade today, we didn’t put in an honest days work. It goes against our “work ethic.” Deciding NOT to take a trade is WORK, too. Work smarter, not harder.

    Looking at Andy’s post, I would greatly appreciate feedback from Nial.

    Personally, I believe in setting pending entry orders. You must be careful, though. I reduce my position size, and I only choose trades where the risk reward ratio is quite high — in fact a set my entry level to increase that RRR (like using a 62% retrace instead of 50% retrace). Also, I only do this in early to mid Tokyo session so the limit order trade has a chance to grow throughout London and NY.

    Kim

    Reply
  37. AndyH April 27, 2012 at 11:57 pm

    Great article. Trying to internalize all these lessons. I often feel compelled to trade because I have a narrow window in which I can. 6PM to 1AM EST when things can be a bit slow. Nial, since we are most clear minded when we are out of the market, would it make sense for us to set up pending orders?

    ~ Andy

    Reply
  38. YangL April 27, 2012 at 11:42 pm

    Technique, patience and discipline are key to win, thank you for your sharing!

    Reply
  39. ed April 27, 2012 at 11:39 pm

    #1 hits the nail on the head! thx

    Reply
  40. cheetu April 27, 2012 at 10:59 pm

    Hi,

    Essentially it says get off the GRQ brain!

    -Cheeti

    Reply
  41. Wes April 27, 2012 at 10:51 pm

    Yea Man! Didn’t start being profitable until I learned patience.

    Reply
  42. onesi John April 27, 2012 at 10:18 pm

    nice article, thanks for all ur service to the trading community

    Reply
  43. samuel April 27, 2012 at 10:04 pm

    What an article! Thanks Nail,prof of price action.This is too good.

    Reply
  44. Kenny R April 27, 2012 at 10:04 pm

    Great Great post Nial. I used to do all that before I learned Price Action trading on a naked chart. I’m making a killing using just one Price Action setup that I can call all mine now. Trading can get pre-school easy when you have a well defined strategy and plan with strict money management. Mix in some patience and discipline and BINGO!!! There’s your holy grail right there. Account is up 40% in 120 days taking a few trades a month of just pin bars! Love it!

    Reply
  45. Chris H April 27, 2012 at 9:51 pm

    Good stuff Niall and I recognise some of thse. You deserve encouragement – there are some dreadful so called mentors out there. Keep it going m8!

    Reply
  46. Chris April 27, 2012 at 9:33 pm

    An amazingly intuitive piece of work Nial. You really hit home. recently I was thinking about what the most powerful weapon in the forex asrenal is and maybe illogically came to the concusion that “you do not have to trade”. No-one is holding a gun to your head and forcing you to trade. So patience, waiting for best opportunity to come along is everything.

    Reply

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