But what if your chosen profession requires a little more hardware and a stable connection - like trading the markets? Experienced day trader and founder of Warrior Trading, Ross Cameron, says all is not lost. Here’s how you can day-trade while traveling.
Warrior Trading Says: Get the Right Kit
First off, you’ll need a laptop. It may sound obvious, but many people are surprised that Warrior Trading’s Ross Cameron does all his trading on a laptop - even when he’s at home - rather than some water-cooled beast of a desktop rig.“I like the feeling of being able to travel with the same laptop I use at home. I got my first laptop in 1999 and I haven’t looked back. Laptops for life,” Cameron said in his new day-trading tome How to Day Trade: The Plain Truth. “You don’t need one of the highest-end laptops, but it needs a decent graphics card so you can run two or three external monitors [when you’re at home]. I like Lenovo Legion and Falcon laptops, but I’m sure other manufacturers make plenty-powerful ones.”
Cameron even has small portable external monitors he can tack on when traveling.
“My minimum arrangement is I have two external monitors when I’m traveling. I currently like ASUS USB monitors for my traveling trading station. They are not fancy 4K resolution, but simply 1080p. They hook up to my laptop via USB connectors, and I have clips to attach the monitors to the side of my laptop screen,” Cameron shared.
Your internet connection needs to be stable but doesn’t have to be blindingly fast. In a pinch, you can also use your phone’s hot spot for backup.
Schedule Your Time Appropriately
Routines are critical for day traders, and if you want to travel and trade you need to pay attention to both your own routine and the normal flow of the markets. Cameron’s routine is to trade every morning. There’s a reason for that: Not only is that when he feels he’s at his best, but it also coincides with when the market is most active.“To be honest, I cannot think of a day trader who trades only in the afternoon and who has done well in this business. Maybe they exist, but I’m drawing a blank. In
terms of volume, the vast majority of trades occur in the first few hours of trading, from 7:30 a.m. to 11:30 a.m. Eastern time. Trading happens at other hours, but that morning window is when most of the action happens,” explained the Warrior Trading founder.
This doesn’t mean that if you’re in a different time zone you can’t trade at hours that suit you - as long as the markets are open. But it does mean you need to plan a little and understand the conditions in which you’re working.
Get the Right Mindset, Says Warrior Trading
Nothing gets the synapses sparking like extra stimuli, which is why traveling and trading can be a great combination. No matter whether you’re trading from home or on the road, being in the right mindset to trade is key.“In my experience, it takes years of emotional conditioning to be able to sit for even two hours, watching the live trading action while maintaining emotional composure the whole time,” said Cameron. That can be especially true when you’re traveling and trading because you’re pulled in two directions. On the one hand you want to have fun and enjoy yourself, but on the other, you need to make the trade.
“Composure during a stressful situation will carry over into the rest of your life,” said Cameron. “If you can be a day trader with big money on the line and keep your composure, the run-of-the-mill daily frustrations will also become easier for you to handle.”
Warrior Trading: Enjoy the Ride
If your plan is to travel and trade, make sure you do both properly. And that means enjoying the trip and wherever you land. It’s important if you’re traveling and trading to stop and smell the roses once in a while. Otherwise, it can become a grind.Two years ago, Cameron took a break from Warrior Trading and traveled to Turks and Caicos. He remembers telling himself: “I should really take time off from trading because I’m feeling really burnt out.”
It had been a crazy year and he felt a getaway was something he needed.
“I remember I felt very recharged when I finally came back from the vacation. I ended up making some great trades in my first week back, and I felt like I had more than made up for the week that I was out,” he recalled.
The whole experience helped him realize the benefits of taking time off, and now he encourages anyone experiencing burnout to prioritize their mental health and take a break.
The freedom of being a traveling day trader is a bit of a double-edged sword. Day-trading can provide the opportunity for total independence from the rat race and the ability to work from wherever you are in the world. But commitment to the profession - and your account balance - means you need to always show up and be present. There are no paid vacations.
But the good news is that with proper planning, the correct kit, and the right mindset, traveling and trading is a real possibility - and a great way to earn a living while enjoying the world and all it has to offer.
Just remember, when you’re on the road it’s OK to take a break from trading on occasion.
Disclaimer: The content of this article is for informational and educational purposes only and should not be construed as financial advice or as a guarantee of success in day trading or any other form of investment. Day trading involves substantial risks, including the potential for significant losses. Results can vary greatly, and past performance is not indicative of future outcomes. Readers are encouraged to conduct their own research and to consult with a qualified financial professional before making any investment decisions.
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