How to Set Up Your Ultimate Forex Trading Mobile Office22 February, 2016 by Paula Rodriguez in Forex Lifestyle
As an efficient forex trader, always be prepared with an ultimate mobile office
Forex trading is setup to be a mobile business. Because of modern advancements, it gives everyone the opportunity to go online and earn from anywhere around the world. Considering this type of work environment, it is important to be ready with a mobile office for forex trading.
Why prepare a mobile office for forex trading?A reliable mobile office allows you to continue working instead of stopping all trading activity. Click To Tweet
Unexpected situations or sudden travel arrangements cannot be avoided. There may be an electricity problem or an immediate travel plan that might require you to quickly move your trading setup. In these instances, setting up a mobile office ahead of time can allow you to be more flexible and ready for unforeseen situations. It can also save you from any added stress or extra effort. Digital nomads also use a mobile office set up to break the monotony of working in the same physical space.
By preparing an effective mobile office, you can conveniently trade anywhere without difficulty. Thanks to recent technology and devices have allowed forex traders to be productive at any given location. With the change of surroundings, it is important to always produce the same level of productivity for consistent trading activity. This mobile setup should achieve the same output and create a similar business environment for consistent results.
How to set up your ultimate forex trading mobile office:
Preparation is the key to setting up the ultimate mobile office for forex trading. Organizing a mobile office is simple once you have a clear idea of the kind of work you want to accomplish outside of the home office. After finalizing your ultimate home office with our checklist, start preparing for an effective mobile setup. Here are the best options on how to set up your ultimate mobile office:
Invest in the correct type of mobile device
Investing in a gadget is an important step in setting up an effective mobile office. It is also an exciting part of the process. The best thing to do is to take your time in gathering information and reviews about every unit. First, figure out what kind of forex trading activities you intend to do outside of the home office. From there, create a list of what you will need out of your laptop. Be sure to do your research and discuss your list with a professional.
The most important tool in your mobile office is a laptop. Since it is a big investment, most traders find this step time consuming and often difficult for final decision making. To make things easier, use your list of trading activities for your mobile office to determine the kind of laptop you need. Also take the time to read up on what other traders think is best. According to Day Trading Course, the ideal laptop has a fast Intel i7 processor with 8GB RAM and a 64 bit Windows 7.
Picking a laptop is both a personal and business investment. Here are helpful questions to get focused on what you want and need out of a powerful laptop for trading:
- Are you inclined to go for MAC or Windows? Make sure you get a laptop that supports charting and trading software
- What kind of software programs are being supported by your broker? Can this be compatible?
- Will you be running multiple applications? This will determine the RAM you should get. Be sure to get a fast data processing unit.
- Would you prefer to use one or two laptops or screens for trading?
- Are you more comfortable purchasing from a reliable brand? Research and reviews are beneficial especially when it comes to having a long lasting device.
- Do you care about the display screen or the look of your laptop?
- Will you be needing other programs or features? Make sure to check out extra features especially if you intend to use your laptop for personal use.
- What is your budget? Is this budget reasonable with the amount of trading activity?
- Do you want a laptop geared for trading only? Check out Trading Computers.
Once you focus on your needs, you can start to do your research on the unit. Before going to the store, check out recent models online depending on the brand you feel most comfortable in. If you haven’t narrowed in on a laptop yet, check out What kind of laptop should I buy? quiz for a fun way to start.
Smartphone and Tablet
Within the past years, advances in technology have allowed traders to trade forex directly on smartphones and tablets. These devices are great to accompany a laptop or directly trade in. Because of its mobility and convenience, forex traders can even work straight from their phones or tablets. In fact, most brokers offer mobile trading platforms. As long as you have a reliable and safe internet connection, a smartphone or tablet is a handy addition to a mobile office.
The perfect device for forex trading is determined by its screen size and software. These two features are commonly used to pick a device. For the screen size, it should be big enough to comfortably navigate charts and trade from. The smaller the screen is, the harder it is to trade efficiently. In the long run, it can lessen productivity and cause eye strain from difficulty in reading.
Lastly, the best smartphone software for trading is an Android or iOs. This is because most forex apps are compatible compared to a Windows phone. When using a tablet, both softwares will work just fine. Another thing to remember is battery life. Make sure you check the amount of hours on your device to decide if you will need an extra battery or a power bank.
Research and plan a secure internet connectionAside from a top performing laptop, you must have a fast and safe internet connection for trading. Click To Tweet
With a mobile office set up, most traders need at least 5 megabytes to properly trade forex and analyze charts. When traveling, you must always be ready with your own access to internet. Although most establishments have free wifi, it is not reliable nor secure enough for trading activities. Here are tips for safe and reliable internet connection:
- Use a portable broadband device or a MiFi if you are traveling with other traders.
- Always speak to your service provider when going out of town or another country. Ask for their opinions and options on how to get the best internet speed through their services.
- Be sure to set up and test the device for the speed of cellular data network as committed. Make sure you are getting what you are paying for.
- Create your own hotspot with a USB modem. Again, set this up before your trip to avoid any issues.
- Always use an encrypted password to protect your data.
- Do not scrimp on fast and reliable internet speed. This will give you stress free trades and allow you to work efficiently while traveling.
Prepare a virtual or mobile backup system
Whatever progress you make while traveling, you must save your work on a virtual or mobile backup system. Most traders should already have a good backup system. This allows you to access your data on the go or once you arrive back to your desk. Backing up also ensures that you safely have all your data in case of a malfunction. Check out ways you can prepare easy access to all your files:
- via USB flash drive – Make sure to get a quality drive with large memory. Take a look at best USB Flash Drive Reviews of 2016
- via external or portable hard drive – This device can store larger files. One of the largest capacity hard drives right now is Samsung 16TB SSD. You may not need this much for both personal or trading files. There are other great options in the market. Here is CNET’s list for Best Portable Drives of 2016.
- via online backup systems – If you have great internet speed for uploading and downloading, then you can make use of an online back up service. The popular online backup services to date include CrashPlan, Carbonite, and Bitcasa Infinite Drive.
Purchase quality containers or gear for all devices
A mobile office is a big investment. It is crucial to make sure all your trading gear should be protected and secure while on the move. The safest way to transport and travel with these devices is to store them in quality bags and containers. Start with a high quality backpacks or bag that is waterproof and padded for your laptop. Make sure to also get pouches or sleeves for every device. For non-breakable items, you may buy ziploc bags or tupperware. To prevent any damages while traveling, individually store and secure all gadgets instead of placing directly into pockets. This is a great way to keep everything safe and organized.
Pack the essential digital accessories
Packing accessories is a more individual process when planning a mobile office. It is important to travel light and stick to the essential digital accessories if it contributes to better trading. Don’t forget that these should promote efficient trading while on the go. Here are useful accessories you may want to bring :
- Laptop or wireless mouse with mouse pad
- Universal adapter
- Small surge protector for traveling
- Headphones or earphones
- Tablet stand
- Power bank, extra batteries or power cord for all devices
- Privacy screens or protectors
- Cleaning products for devices like wipes or solutions
- Wrist cushion or smart gloves
- Extra back up systems like USB or external hard drive
- Make use of online platforms. To make the most out of a mobile office, optimize your productivity with the use of powerful and smart online tools. You have the option of saving all your files online through Dropbox or Sync.
- Get insurance for your gadgets if you travel often
- Always have your mobile office with you as a carry-on during flights. If you cannot carry-on all devices, prioritize the more valuable gadgets and pack the rest for check-in. Be sure to accommodate extra luggage space.
- Make sure all electronic devices in your mobile office are regularly maintained and working well before every trip.
- Protect and optimize your laptop with anti-virus programs and installation updates
With all these requirements, make sure to speak to your brokers, service providers and professionals. If you want to upgrade your system, get opinions from those who can suggest the best tools for what you specifically out of your mobile office.
Forex trading provides a kind of business mobility that is flexible to any change in location. With a mobile office, your work is ready to go without any extra obstacles. It is the best solution for when you suddenly need to work out of the office or travel during work days. Make sure to plan ahead and do a test run for your productivity levels. Once you have everything you need, take advantage of your mobile office for convenient trading on-the-go.An effective mobile office is measured by comfort level as well as tasks achieved while on the go. Click To Tweet