Café Trading — How to choose a venue for trading over a cup of coffee

A cup of almond latte and a bearded guy behind the laptop. This pattern can be seen in almost any cafe.

Modern technology allows us to work from anywhere in the world. While in the café with free WI-FI we also get the opportunity to eat, drink tea and … a change of scenery needed to activate the neurons in our head. Of course, you can sit and give likes to kitties in Facebook, but today we’ll talk about trading in the eating places. How to choose a venue, how not to disturb others, what to bring with you, what kind of coffee you should order and another pair of the intricacies associated directly with the Forex trading.

Why should you go to trade in a cafe?

First, during trips. Secondly, when your apartment is busy for any reason: birthday of your mother in law, cleaning, repair, or the sudden arrival of a camp of Gypsies, who turned out to be your distant relatives.

And the third, not the most obvious, but very important reason — to change the scenery. The fact is that when we do the same things every day, neural connections strengthen in our head. We become more and more accustomed to everything and our brain works worse. So you need to constantly try new things. Changing of the working environment will do you good, believe me.

Another reason is the increase the level of discipline. When you’re in front of other people, it’s somehow easier to follow the rules. Maybe that is just me, but nevertheless. Try, and maybe it will help you.

Getting ready for work

Please note that you will not stay in the café from morning to night. It is inconvenient, therefore, choose a time — it must match the time when you check charts for open positions.

We take to a cafe: a charged laptop (let’s not showing off, leave the MacBook to hipsters), a mouse (wireless, if you trade on larger timeframes, it is possible to work without it), smartphone (if Internet connection is lost, we will use it as a modem).

Do not forget to go to the toilet before the waiter will bring your order — it is inconvenient to leave the laptop on the table.

It is better, if possible, to choose a table for four persons. So you will have a place for food and for your computer.

Choosing a venue

So, here are the criteria for choosing the right cafe:

• WI-FI, high-speed, free, without time limits and other nonsense. This is the most important for us.
• Music should not bother you.
• Convenience. Both inside the cafe and location.
• Average occupancy. Yes, the constantly crowded place doesn’t suit us. It is noisy there and the staff would not be very happy for your long sit-round gathering.
• Working time.
• You should feel comfortable there 😉

A good option would be to go “exploration” with a smartphone to check the Internet connection before you go with a laptop there. You can check the speed of the Internet with the help of the App Speedtest (for iPhone and Android).

Cheat code from me personally: a lobby café in a hotel. Visitors from the street are too embarrassed to go inside, therefore, the place is not crowded, prices are moderate, because they have no purpose to make money (because it is a hotel), and the Internet connection, as a rule, is very good. No one will ask you whether you live in the hotel or not, believe me).

How to behave to not be forced to leave a venue

• Do not take large tables for 6-8 persons
• Use headphones if you need sound from the laptop. Either turn off the volume not to disturb the others. Metatrader 4, for example, beeps very nasty in a case of loss of connection.
• Avoid loud and long conversations on Skype and/or phone. Remember that you are not at your home.
• Buy drinks and food every couple of hours. Don’t be impudent, and a teapot of Puerh will help you to focus.
• Be polite and give tips.

The nuances associated with trading

Let’s start with a type of your Forex trading strategy. If you’re scalping on the minute charts with six monitors, you will unlikely be able to work from a cafe/restaurant. It is inconvenient, there is no stable connection. But the timeframes from M15 and above are fine for you.

As I said above, combine a visit to the cafe with the time when you check your charts.
Now, many cafes work around the clock, so it is unlikely to be a problem. Even if you are trading for the day and check the charts once a day, try doing it from a cafe — your head will work a little better, it is checked)

Be careful: without a habit, in a new place, you can make mistakes.

As a second monitor, for example, to track a particular instrument, say oil, you can use the tablet.

Keep in mind that the Internet connection can disappear at any time and be ready to connect to cellular networks through your smartphone. Any modern phone has the modem. If you don’t know what it is, ask Google.

Note the presence of outlets, they are hidden with plugs in the floor in many places. If the outlet is there, you can use the charger.
Do not give vent to emotions. If you can throw a mouse in the wall at home, you should not do it in the cafe.

Do not order alcohol. “100 grams for bravery” can cost you all your trading deposit.

Have you tried to trade from a cafe?