Can you day trade from anywhere in the world? Absolutely.
You can even go to Bjørndalen, a tiny town in the Arctic archipelago, if you so desire. Even though this place has more polar bears than humans, it offers some of Norway’s fastest internet speeds. So, if you want to trade under northern lights, you can make it happen.
The prospects of working in a flexible office – from home, a co-working space, or a coffee shop in a different country – sound great. But there are a few considerations you need to get covered.
Find your ideal working style
What is your approach to work? How do you structure and complete your tasks?
Everyone organizes their work differently – some are more linear, analytic, and planned, while others are more intuitive and flexible. The more you understand how your personality affects your work, the closer you’ll get to your peak performance.
Have a routine
Whether you’re working from home or touring around the globe, you should maintain regular working hours. It’ll be even better if you have a plan for what you’ll be doing before and after work, too. With a routine, you won’t have to give conscious thought to the everyday details of life.
Don’t work casually
Yes, you don’t have to freshen up, get dressed, and sit at a desk. But you won’t last long trading in your sleepwear or in the middle of a horse party with friends.
Try to make your workday feel somewhat formal, set your alarms, and get out of your pajamas. Create an office atmosphere away from a traditional office.
Set ground rules for others
People may think that just because you’re not working a 9-to-5 job, you’re down for face-timing, can babysit or dogsit, or have time to grab a coffee. That is not always true, especially when you’re in the middle of a trading session.
Communicate to family and friends that you’re not available during work hours.
Buy reliable tech
You won’t have an office manager to monitor and maintain equipment, supplies, etc. So, you need to invest in a good setup that won’t require maintenance or repairs.
Here is what you’ll need:
- A computer (with multiple screens for advanced traders) or a rugged laptop (for beginners)
- Consistent Wi-Fi
- Noise-canceling headphones
An adjustable desk or a portable desk riser will complement a good tech setup.
Research the new location before you go
If you trade on the go, learn about the place you’ll be traveling to. You don’t want to be stranded without Wi-Fi or decent living space. Research the destination to be prepared for anything.
Even small things like a different plug and socket with no adapter can ruin a trading day.
Have a safety net
Protect yourself and your family from the impact of economic shocks with a financial cushion, a.k.a. savings.
But it’s not only about the money. It’s also about having people you can rely on to help you in a difficult situation. For example, if you get screwed over by a realtor and have nowhere to stay.
Plan your meals
Since you won’t have an “official” lunch break, you’ll have to take care of yourself and never skip lunch. Try to prioritize having healthy meals and snacks no matter how busy things get, which is easier to do if you plan ahead of time.
Working remotely means having fewer in-person interactions with others. But it’s not an excuse to halt the connection and bond you have with your friends and colleagues (or former colleagues). Also, seek opportunities to connect with new people while traveling.Hopefully, this article has instilled some confidence in you if you’ve ever asked yourself, “can I trade from anywhere in the world?” It’s not that hard to stay productive, focused, and inspired while working on the road. You just need to know the right tips and tricks.