Is the laptop lifestyle and jetting around the world to exotic locations only for the rich? Nope! Digital nomads can do it too!
The term ‘digital nomad’ may sound like a millennial buzz word, but it’s a real class of modern workers. And it’s allowing everyday people to lead adventurous lives.
In this post, we’ll tell you all about digital nomads, why trading is the perfect job for the laptop lifestyle, and how StocksToTrade is a smart tool for location-independent traders. Let’s go!
Table of Contents
- 1 What Is a Digital Nomad?
- 2 Why Trading Is Great for Digital Nomads
- 3 Tips and Tricks for a Day Trader’s Laptop Lifestyle
- 4 How StocksToTrade Can Help You Live the Laptop Lifestyle
- 5 Conclusion
- 6 One Platform. One System. Every Tool
What Is a Digital Nomad?
Wanna spend summers in France, winters in New Zealand, all while jumping around to various countries in between? You used to have to be part of the ultra-wealthy jet set to do that…
That adventurous globe-trotting lifestyle is now accessible for the average person, thanks to the concept of the digital nomad … That’s anyone who uses the internet to make a living, from practically anywhere on the planet.
Digital nomads can work from a bungalow on the beach in Barbados, a stylish condo on New York’s Upper East Side, a riverside hut in Vietnam, a cozy house in the Swiss Alps, or even onboard a cruise ship. And those are just a few options…
It’s all thanks to the rise of cheaper air travel, online communications, and the fact that we can do more and more of our work online. As long as you have decent Wi-Fi and a suitable working space, you can be a digital nomad, living the laptop lifestyle.
Many digital nomads choose to take advantage of a concept called lifestyle arbitrage which essentially means earning a first-world income while living in a cheaper location to enjoy a better lifestyle.
For example, if you were to earn a typical American income, you could live a pretty luxurious lifestyle in many places around the globe. How about living in a beachfront villa in Bali, getting daily massages and eating amazing food?
An average American income from a remote job can make that possible…
Digital nomads have jobs that they can do using the internet. Think writing, programming, digital marketing, graphic design, e-commerce, and my personal favorite … trading!
Read on to learn how you can trade stocks while traveling to get more adventure in your life…
Why Trading Is Great for Digital Nomads
Of all the ways you can make your living in front of your computer from the comfort of your own home (or anywhere else), trading may just be the best.
If you work for a company, you deal with a boss and are never entirely in control … If you freelance, you have to find consistent work … If you run an online store, you have to deal with customers, orders, and maintaining your site…
As a trader, you can avoid a lot of those downsides.
Here are just a few of the benefits of trading:
- Be your own boss. As a trader, you work for yourself … no annoying boss demanding more and more of your time.
- No customers. You won’t have to deal with keeping customers happy, finding new ones, or dealing with the annoying ones.
- No employees. Small business owners often stress over making enough to pay employees. With trading, it’s just you, your account, and your trading method.
- Set your own schedule. Wanna take the day off? Go ahead! You don’t have to tell anyone — just don’t trade.
- The market’s always there. No matter the state of the economy, the changes in technology, or what’s happening in the world, the market will always be there. That means plenty of opportunities for smart traders.
Don’t get me wrong — learning to trade is HARD. It takes a lot of time, work, and dedication. But, anything worth doing is rarely easy.
Tips and Tricks for a Day Trader’s Laptop Lifestyle
The laptop lifestyle is all about freedom, and it tends to attract people who like to do things their way.
That said, here are some tips and tricks to help you run your trading operation while experiencing the joys of globetrotting…
Find Your Perfect Location
Are you a beach person, city dweller, or small-town lover?
Whatever floats your boat, the freedom of the laptop lifestyle can allow you to pick where you’d like to stay for a while. Start by listing your favorite places. Then, dig into some research.
First, consider what time the markets will open each day in your chosen destination.
If you’re in South America, the U.S. markets open in the morning. That can be perfect for early risers. If you’re in Europe, the markets open in the afternoon, and that can allow for a leisurely morning before sitting down to trade.
If you’re in Asia or Australia, be prepared to pull night shifts … but you’ll have more free time during the day.
You’ll probably also want to consider things like safety, cost of living and your budget, how long you’ll stay, and how easily you can get a tourist visa… You can find this kind of information on sites like Nomad List or by searching online for information from other digital nomads.
Set Up a Portable Trading Office
Every trader is different … but if you want to trade well from exotic locations, you might want a well-equipped portable office.
The right equipment can help you feel comfortable when the markets open. And that can help you focus more on finding and taking the best trade setups.
Here’s what you may want for your portable trading office:
- A powerful laptop. Whether you prefer Apple or Windows, make sure to get a laptop that’s powerful enough to run your trading software without freezing at crucial moments.
- External monitors. It’s entirely possible to trade from a single laptop. But you may want additional screens for more charts, news, or further analysis. There are plenty of portable monitors designed for laptops.
- An external hard drive. Always plan for the worst. Your laptop could be damaged or suddenly die, and you’d lose all your data. Carry an external hard drive with you and back up all your important data up regularly.
- Universal power adaptors. Different countries use different outlet configurations. You won’t always be able to plug your electronics directly into a country’s power outlet. A universal power adaptor can help you connect your devices to power in foreign lands.
- Your broker on speed-dial. Whether you’re at home or abroad, your Wi-Fi can drop out. And if you’re in a trade when that happens, you might want to quickly close the trade. So keep your smartphone on hand while you trade. And be sure to program in the international phone number of your broker, so you can call at any moment.
- Keep notes online. Smart traders keep journals and chart setups to help them learn, grow, and improve. While traveling, you probably don’t want to carry around notebooks or printed charts, so use an online platform (Evernote is one option) to capture it all digitally.
- An efficient trading platform. No matter where you trade from, you need access to charts, news, scans, and stock quotes. You can get all of these features in a single platform to help keep it all streamlined. StocksToTrade does exactly that! See for yourself with a 14-day trial for just $7.
Prep for Life as a Digital Nomad
Generally, when your life flows well, your trading can follow suit.
Being away from home, in foreign locations can be stressful or isolating at times, it’s important to have tactics for managing your life to help you continue to trade well.
Here are a few practical tips for managing your life while living abroad:
- Find a routine. Depending on which timezone you’re in, it’s possible you’ll be trading at odd hours. Find a routine where you wake up around the same time each day, eat regularly, and get some sunlight and time outdoors.
- Stay connected with friends and family. Being overseas can sometimes be lonely … you may even get a little homesick. Remember to stay in touch with the important people in your life. It’s easier now with technology than ever before.
- Find a great bank. Using your ATM card at foreign ATMs can be expensive. You can be charged huge fees to exchange money into a different currency — on top of ATM fees. It’s important to find a reliable bank that offers good currency exchange rates and low fees. (Word has it that Charles Schwab is popular with American digital nomads.)
- Take advantage of tax breaks. You may pay less in taxes if you reside outside your home country for most of the year. For example, as a U.S. citizen, if you spend at least 330 days of the year outside the country, you may be entitled to a tax break allowing you to not pay any tax on the first $105,900 of your income. But note this is in no way official legal or financial advice. Consult a tax professional.
- Learn the local language. No matter where you travel, you’ll almost always have a better experience if you learn some of the local language. Key phrases and friendly chatting can help you make friends, get better service, and overall have a better time. There are plenty of apps (like duolingo) to help you build some basic language skills.
- Get out, socialize, and have adventures. Trading stocks while living in an exotic location is great … but there’s more to life than trading. Make sure to spend some time away from the markets to experience your surroundings, have an adventure, and meet some locals!
How StocksToTrade Can Help You Live the Laptop Lifestyle
While you’re traveling the world as a trader, you want your setup to be simple and effortless. Preparation is key to finding the best trade setups…
Forget logging into four or five different websites and programs and clicking between the clunky interfaces. You want something that just works, where you can find everything you need at the click of a button.
That’s exactly what StocksToTrade can help you with.
StocksToTrade is a powerful solution for traders of U.S. stocks. Many of the industry’s biggest names currently use it and love it.
See how StocksToTrade can help your trading day — get your 14-day trial today for just $7!
A lot of digital nomads live amazing lives, travel the world, and live the laptop lifestyle to earn a living.
It’s not just a fantasy, tons of people do that today. And trading stocks can be one of the best ways to live that lifestyle.
If the roaming the globe sounds appealing to you, make sure to scope it out first. And follow along with all the tips and tricks shared here.
The nomadic life is just one of the many benefits that can come with learning to trade stocks. Ready to step up your trading skills? Check out our awesome trading platform with a 14-day trial of StocksToTrade for just $7.
What’s your laptop-lifestyle dream? Where’s the craziest place you’ve ever traded from? Share your story below!