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Trading
business is very simple and inexpensive to set up. It can be run from
home or any other place with an access to a computer and Internet.
Depending on trading style one may need different types of software, live quotes or other
forms of support. An access
to a phone is essential as internet trading platform may develop
problems and a trader may need to phone his broker in order to get help
with his
trades. Next thing to do is
finding a broker and to open a trading account. That can be done easily over
the internet. Depositing funds to a trading account is done by wire
transfer or by sending a cashier check to the broker. Once the
business is set up a trader is ready to start operating his business. That applies only to
experienced traders. New traders should not attempt to trade without
acquiring as much knowledge as possible and then developing a trading
strategy and testing it. A trading strategy is only a part of a business
plan.
My own trading set-up
consist of a personal computer with DSL Internet access, three monitors, a phone
and a
trading diary. Also I have a back up computer. Real time
quotes needed for day trading are supplied for free from my broker. I
also subscribe to some additional trading software.
There is a
substantial risk of loss in trading futures and options
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