If you are a frequent traveler who is also interested in day trading, you understandably have concerns about doing it right. Indeed, there are any number of problems that could arise as you attempt to trade while on the move – security issues, poor connections, etc. However, as the world becomes more and more mobile, traders are developing an increasing number of methods to address these issues.
In this article, we will provide tips on how travelers can continue to trade on the road and not run into problems that can end up blowing their savings.
Know Your Broker
If you have an established broker, you should have all the relevant information on hand. This means information for both your primary contact, as well as customer service and any other potentially necessary contacts. Make note of time differences and operating hours! Even the slightest difference can make or break a deal for you (believe it or not, there are a couple of countries whose difference from most goes down to a quarter of an hour!).
Perhaps most importantly, get yourself a reliable platform. There are some great platforms out there like Meta Trader 5 that will give you comprehensive information and reliable services.
Be Sure That Market News Channels Are Accessible
This is a big one, and it can stump even the most seasoned of travelers. Set up any necessary market update channels before you travel, and do your best to be sure they work. You may be surprised at how many countries don’t provide access to American sites either because of sanctions, or even simply because certain sites are not available in those places. Be sure you have notifications established to keep you up-to-date at critical times.
While there may still be some situations that are impossible to determine, even with the right research, you can do a lot for yourself by preparing in advance. And if you can get your hands on a really strong VPN that is known to work in your destination countries, you will be giving yourself greater assurance still.
Travel Where Services Are Predictable
Now this one might sound like a stretch, particularly if you are an adventurist who thrives in unusual places. However, there are certain things you can do to ensure uninterrupted connectivity even out in the wild.
More and more developing countries are developing excellent phone providers (some people in the so-called developed world might even call them superior to their own). If you are heading out into the bush, talk to fellow travelers back in the capital city and see what their connectivity was like in particular areas. Also, you should always make sure you have chargers to keep your devices going in case of an electricity outage. And remember differences in voltage! Travel prepared with an adapter that you know won’t blow your computer if you switch from 120 to 210.
Ensure Your Security
This means several things. For one, you should obviously keep your physical items locked and safe when they are out of your sight. Don’t assume you can leave your laptop on a cafe table as you run into the restroom because there are other people in the room. Some thieves can be remarkably smooth as they go about their business.
Also, be sure that your data is safe when you’re online. When dealing with financial data in particular, you are working with material that is coveted by hackers, and some of them are extremely good at breaking into systems. Be sure to establish multi-step authentication for entering sites or apps, make your passwords difficult to figure out, and don’t log on to wifi that leaves you vulnerable to other computers around you.
Prepare For Unforeseen Chaos
This statement might cause some people to giggle or roll their eyes in disbelief, but you may be surprised at just how chaotic certain parts of the world can be. And if you’re not used to focusing in these kinds of situations, you can easily be rattled and thrown off guard. This could either cause you to make a mistake, or just a really bad decision!
If you’re not sure how to prepare for this, you might actually do a YouTube search for some of the cafes or other spaces you plan to work in. You’ll probably be surprised at just how many places have an online presence.
You’ll Get Used To It
Even if the places you travel to are diverse in nature, you’ll start to develop a system that will work in most places. And with it, you will get into a rhythm of trading that will enable you to make smart, profitable decisions. And that’s something you can take with you anywhere.
