I get that trading can be done from pretty much anywhere as long as you've got internet and a device, but what’s your take on trading while you’re traveling?
Some traders really thrive as digital nomads, sticking to their routines regardless of their location. But then there are those who only hit their stride when they’re at home or in their usual office, and they totally fall apart on the road.
What about you? How do you handle it?
I don't think there is much difference between trading while traveling and other times. I basically do everything with my mobile device which means as long as I have Internet access, every other things are the same. But the type of traveling and the amount of engament will matter. If it is work related travelling, then there will be less time allocated to trading because some work stations may not require the use of phones. But some other reasons, trading could be fun those times.
Every country has different rules, the country I live in is a poor country and our area is rural. We usually stay connected online through mobile internet connection, although we have to be very careful about trading while traveling. Trading time is basically a busy time, this time we have to control ourselves in different ways.
Usually in my case I buy Bitcoin/Anana coins as per plan and I usually keep it as profit and place it in order. And while traveling sometimes I check if my coins have been sold, in this way I do trading while traveling. And sometimes when I travel for a long time I refrain from trading.
I don't think there is a right and wrong answer as it totally depends on each person. For instance, I don't see anything wrong if someone wants to just focus on relaxation when traveling or when someone do trades while at it. As for myself, I'd go with the former.
If anyone's planning on trading though. Make sure to triple check if the CEX you're using has any restriction in the country you're travelling at. For instance, binance could flag your account if they detected US IP. There are VPNs for masking IP location, but we can't be 100% sure that we would get no trouble once detected by our go-to exchanges, especially if you happen to connect to a poor rated IP.
I never tried it yet, trading while traveling. I am sure you are going to check the chart from time to time because you don't want to miss the opportunity.
I think there's a simple way to avoid this restriction for trading but the problem is you are going to use a 3rd party service like tradingview.
What you can only do is to trade but you can't withdraw on tradingview you must do it directly from the CEX. However, since the purpose of this topic is to trade then this should be the solution to trade while you in outside your country plus use a VPN because Tradingview is also sending IPs to the broker but it shouldn't be a problem most of the exchanges like OKX and Binance allowed to use VPN actually OKX recommend it to protect your online connection.
Depending on the purpose of the trip, if it's for a vacation I think it would be better to enjoy the vacation, but if it's for work it's okay, it means our brains are ready for all the pressure.
I once did it when a few years ago I had to go to several cities, the main purpose was only to visit relatives and lots of free time so that it could be used for trading, because usually before opening a position I will read news about crypto that can affect the market.
so do it when you have enough time to analyze even though you are traveling but if you are too busy it is better not to do it.
It depends, how are you traveling, with who are you traveling and the purpose of your travel.. if I go for a vacation with the family, I choose not to trade.
If it's a business trip or just a visit to another country I can check the charts, but try not to stick to the charts 24/7.
Life's too fast my friend. Charts will be forever.
If youve practice the act of trading well, there is no way that you cannot always find it comfortable to trade at all times and even when you travel, it will make no difference to you. Trading is a game of knowledge and when you have had the sufficient knowledge needed as a trader to trade and be profitable, no circumstance you find yourself in can make you not to trade and still win. Losses are inevitable and if you lose your trade while youre on the verge of traveling, just accept it as one of those days you usually hit SL on a normal. Not the condition you are made you lose the trade but the market didnt just went in your favour.
Doing trading while travelling is actually the kind of living that we all wanna do. We're free to go wherever we want to go and at the same time, we're also earning. Sometimes, I do this whenever I travel but I am not confident with all of the stuff that I bring when I go to places. That's why I am more confident doing the trades at my home and there will be no distraction. I'm not yet ready to do this full time but if it's needed to be done, I'll do it for few trades. I know that full time traders does this and that's the ideal life they have been living for but not all are into this.
I tried it, and I would say that it's not the same.
I mean I tried it once, and since I only used my phone when doing trading when I travelled, it isn't as accurate as it is when I'm trading using my own computer. I didn't incur that many losses though, but when I travel in the future, I will make sure that I will bring my laptop so at least, I can plot and analyze way better than using only my phone.
The only problem that I see though is the amount of time you will be needing for analyzing the market or at least analyzing the coins. Normally, it would take me around 1-2 hours to scan the coins that I usually look. If you're travelling, of course the time would be lesser as you're on a different place. You will analyze fewer coins hence, losing some opportunities as well.
A simple trading view and exchange account is what I needed most of the time.
No need overly complicated set up to get started so I'm doing fine with trading while traveling. Actually, I really enjoyed it because I can kill time while traveling by just looking at chart and even finding some coins that's usually under my radar.
Trading is more accessible than ever so I'm sure majority of people won't have problem. Our phone is also powerful enough for this.
Sometimes I trading while travelling especially when I have free time. But as that is travelling, I think that will not easy for us to trade because we need longer time to analyze and prepare all things. That will not be a problem for those who can manage their time but not many people can do that.
If you are in a good mood, you can trading and use your free time while you have. But if you feel tired and still do something while travelling, it is better you cancel that and focus on what you do now.
The best from crypto market is you can trading anytime and anywhere you want. The thing you need to concern is how you can analyze before you start trading. The rest will be follow.
I now check the charts of the pairs that I am interested in from time to time, and it's a good habit, in my opinion, because you could really take advantage if you are really consistent and manage your risk well. This would vary from person to person, but I still check my investments in my crypto trading portfolio when traveling.
If you open a position before you start to travel, I am sure that the position can be the type that will require you to be checking the price of the coins often, this can make you to check the price while traveling and it means you are trading while traveling.
If you just feel board in the car and you checked the chart and you see a buying opportunity or going short opportunity, will also trade at all the time.
You do not have to carry laptop around to trade now because your phone is capable of doing that also.
It really depends, especially if you treat trading as your work or day job. Then for sure you really still want to trade while traveling. And consider also the purpose of your travel, like it is a vacation?
Plus the environments, for example you used to trade at home with multiple monitors so while you travel, maybe you only have your laptop or mobile phone, then you find it difficult to do analysis on the market or charts.
You can trade anywhere that is comfortable and has an internet connection, whether it's in your home, office or in transit. What matters is if you're in a conducive environment where there's no distractions. As somebody mentioned on this thread if you're traveling outside your country you need to understand whether your exchange is enabled in that country or region. Internet based jobs are becoming very popular because you don't have to be restricted in an office to do your job, anywhere you are you can connect to the world with ease and convince.
When it comes to trading, then i would always prefer that i should be at my own pc on my home on which i cant be able to focus up that much even lets say that i do have a laptop and could possibly be able to trade up anywhere anytime but still it will be that totally different when you are at your own room and do make out trades. Although there are instances or times on which i have made out some trade while im on transit and this is via doing on my mobile phone on which it is just that very not that giving out that good user experience and you are that prone into mistakes due to small screen. I have that experienced it out in the past on which placing up some orders due to some misclicks and thats why i dont really love on making trades when im that in transit or going out of home then i do just simply wait up for the right time on doing trades when im at home.
Actually it will be that depending on a certain persons preference when it comes into these aspects because we do know that each trader could be that different whether they are that scalpers, day traders on which they would be needing up to check out prices for them whether the would be needing up to check on which this one is understandable into this aspect.
I do that all the time while travelling. To be able to do that thoroughly, I normally check for setup, entry positions before leaving my house to know if I will take any trade or not during that journey. I don't begin to look for setups in transit. All I do need is the right time to trigger trades. That's if I don't set pending order for them before hand. It's the same way I visit this forum or check on my SM handles while on transit. It helps me kill boredom. I can't be on a journey of more than two hours and not surf the net or peep to see what's happening with my apps. However, I try as much as I can to dodge other co-travellers from looking at my phone while I'm on it. Times are really bad. We don't know who may be lurking or looking. Prevention, they say, is better than cure.
I don't trade all the time but irregular dates depending on the kind of spikes that the market do. But I do move from time to time, I live a few days to parent's house and then back to mine which more than 100 miles apart.
Its probably not so difficult to be a day trader when you move from one place to another after all you only need a laptop and an internet connection which you can use your phone to connect.
One's location doesn't really matter when it comes to trading; what matters is the place where a trader can find themselves to trade and if the place is comfortable and relaxing for trading. Sometimes, even in your home, it is not every time that you can trade comfortably, maybe because of the activities that might be going on in your house.
You can choose to trade wherever you want, but the most important thing to look out for is whether the environment is conducive to trading. While traveling, if the journey is conducive for trading, then I don't think it is bad for one to trade.