Today, I’m going to share with you what you need to know to travel more while living from trading.

Yes, it can DEFINITELY be done. (In fact, this was my #1 reason to start with trading).

And I already shared more about this in two extensive interviews for the most prestigious trading magazine ‘Technical Analysis Of Stocks & Commodities’. (You can read the first interview here and the second interview here).

Technical Analysis of STOCKS & COMMODITIES, June 2016

Technical Analysis of STOCKS & COMMODITIES, September 2018

In this post, I’d like to share the 3 key things you definitely need to know and do before becoming a trader-traveler (I’m assuming your trading is already fully automated, if it isn’t then that’s the first thing you need to do).

  1. Plan your finances way ahead of time

Here’s the #1 truth that you might not want to hear, but I had to learn it first:

You CAN’T travel on expenses from your CURRENT trading outcome.

You need to make some money first. Use that money to pay for your first trip, and then see how it goes “on the road”. Why?

Because in trading, a salary doesn’t always come every month. So you need to be prepared for that and adjust to it.

To give you an example: Currently, I’m in East Asia. Although this part of the world is not expensive in general, my living costs are pretty high here. We (me and my wife) only stay in the top 5 star hotels and resorts. We fly business and eat at fancy restaurants. But I’m spending money I have ALREADY made. So, I took part of my last year’s profits and calculated that me and my wife can live from that portion of profit luxuriously in East Asia for 4.5 months. So we purchased flight tickets with a return date back to Europe in 4.5 months, with the possibility to extend the return day. And if the first quarter of this year goes well in trading, we might consider extending our trip.

But as you see, planning ahead is necessary. Trader’s can’t afford to spend money they don’t have yet.

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Although many times you WILL make money while traveling and you WILL use this money to extend and upgrade your stay, you need to start with PLANNING.

First, make some money in trading. Then start traveling. And keep doing your best to make more on the road – and thus expanding your traveling experience.

2. Have a REALLY diversified portfolio

When you travel, the #1 intention should be to minimize stress. But markets can get really stressful sometimes, as we all know. What I realized is that it is IMPOSSIBLE to travel while running just one or two trading strategies. As soon as things go wrong (and they will), your expensive travel experience is over.

But if you trade more strategies, there’s almost always a few that still keep making money. Even when the rest is losing money. That gives you peace and confidence.

To be honest, the comfort and quality of my own traveling seems to be highly correlated to the quality of my portfolios. When I started traveling, I had just a few strategies. I was often stressed and didn’t enjoy some of the great places I visited.

But through time, my capital and portfolio grew. And with my hedge fund, everything is getting even better (as more capital allows even better diversification).

So, definitely build a lot of strategies. (You can discover how I build my trading strategies in a free webinar)  and then construct superior portfolios.

And if your trading account keeps growing during your travels, consider adding even more strategies and markets.

Diversification equals peace, tranquility, and stability.

  1. Worry about the REAL risk first and the tech second

When I talk about how I traveled 65 countries while trading, most people ask me about tech.

How did I manage my trading technically, while moving from country to country.

Unfortunately, what most people don’t understand is that the tech part is the easiest one. (Just rent a good VPS server and always have a local data sim, so you can check your server remotely a few times a day).

That is NOT the REAL risk.

The REAL risk is a surprising one, and it took me a while to figure it out. The real risk is our PSYCHOLOGY.

Over the years, I’ve observed two potential mindset modes that get triggered when traveling and trading at the same time:

The first one is “vacation mode”. This is a coded pattern, saying, that traveling equals vacation and that equals not worrying. So, when I started traveling and trading at the same time, I often got to this subconsciously programmed behavioral pattern. Then I stopped paying attention to my trading, and I lost money. It took me a while to figure out how to balance that.

Then, the second pattern, which I call “aggressive trading mode”, was also triggered some times. I realized this one when I was in Dubai for the very first time. We were visiting this super-rich, but also super-expensive country, and I wanted to enjoy it to its fullest. But I couldn’t AFFORD it at that time. It was simply TOO expensive for my budget back then. So I decided to step up my trading income (and thus my traveling experience) by any means. I started pushing my trading really aggressively – until I lost a lot of money.

Since then, I realized that “vacation mode” and “aggressive trading mode” are much worse risks to my trading than the tech. And thus, whenever I travel, I deliberately switch to an even more conservative trading mode than ever. I lower my risk and get MUCH pickier with my trades. (That means I deliberately implement more of my Market Internals and False Breakouts techniques. So my automated trading strategies trade less, but with higher efficiency. This way I willingly give up some potential returns too, but I want to get as far from overly aggressive and pushy trading as possible. To travel in peace).

So, these were my 3 tips.

In general, trading and traveling is totally doable. If this is your dream – just stay focused and keep working at it until it’s done. There’s no more magic in it than this.

Happy trading and happy traveling!

Tomas

 

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DISCLAIMER: Trading involves significant risk of loss and is not suitable for everyone. People can and do lose money. Hypothetical results have many inherent limitations. Past performance is not necessarily indicative of future results.

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