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® “Home-Study Course” Study Manual Page 259

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2. Business & Office Set-Up

Outline exactly what you want your business to look like. List
everything you will need from computers to chairs. Then calculate what
the cost of all these items will be and allocate a portion of your start-up
capital for that purpose.

Where will your business be located? Is this going to be a home-based
venture or will you be operating from an outside office? What will your
office space cost and will you be working full-time or part-time? Plus,
have you decided what markets you will trade and what brokerage
house you will use to execute your trades? Determine in advance what
the commission cost of your trades will be.

And, most importantly, select a proven trading system that you feel
comfortable with and truly believe in. This trading system should suit
your psychological approach and your personality.

3. Legal & Financial Concerns

Will you incorporate, be a limited partnership or sole-proprietor? Will
you open a separate bank account for your business? With regard to
taxes, be familiar with any tax laws that relate to your trading. Who
will prepare your tax returns and can they council you on how to

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