subject: How To Set Up A Home Office For Forex Trading [print this page] If you have ever worked from home, you know how distracting things can be. If you have children or pets, the distractions can be almost crippling to your career or work. It's hard for people to think straight with the television, a crying baby, a hungry dog, or any other type of temptation or distraction. Setting up a home office space for yourself is necessary if you want to make a long term living while working from home.
Forex trading is a full-time occupation for some, because it requires a lot of attention and you must be focused and ready for stocks to change in value. You could completely miss a great sale simply because you had to take your dog out to go to the bathroom. The first step for setting up a home office is to choose a space in your home where peace and quiet are maximized. This could be a spare bedroom or even a section of your bedroom. Bad places for peace and quiet include a porch or your living room.
Set up a secluded area for your desk, phone, fax machine, etc. If you need to set up shop in a room that is used for other things, create your own little office space in a corner of the room. Set up the furniture so it is facing away from everything else in the room. If you don't like facing the wall, put up a painting or photo you like. Make sure you have enough outlets for all of the electronics you'll be using and access to internet and phone lines as well.
Write down the expenses of everything that you purchase for your home office. If you are planning on filling out your taxes under self-employed, you may be able to write off some of these expenses. This includes the cost of office furniture, a laptop, a phone line, and other useful things. You should talk to a tax professional before you try to write any of these things off, because there are parameters you have to follow to be eligible for write offs.
Designate a certain time of day that you will be working in seclusion and quiet. Also, schedule times of the day where you'll play with your children, have dinner with your wife, or have lunch with a friend. If you make a schedule, you won't feel distracted, because your "distractions" are actually a part of your planned day. A schedule will also make you feel more organized.
A home office is supposed to have the convenience of saving money on commutes to work, fast food, and work clothes, but there are also the drawbacks of being at home. You feel more comfortable, so you're less likely to get as much done and more likely to be distracted. When setting up a home office, the key word you should focus on is office. You should feel like you are not at home when you're in your home office.
