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Ever since the internet was a thing, we've seen promotions on how you can earn money from everywhere. The usual stock photo shows someone typing on the beach, perhaps with a mai tai in one hand.
Anyone who has brought a laptop to the beach knows this is a no-brainer. You can't even read the screen; it doesn't matter, get a good Wi-Fi connection. But it's also not true that you have to be in an office with a wall of monitors in order to trade. Let's look at what you really need in terms of time and equipment if you have any travel and trade.
Day trading has its challenges and is definitely not for everyone, but one good thing about it is how little time trading sessions take out of your day. The bad news is if you live on the West Coast, you'll be up very early to trade when the market opens, and preferably before. The good news is that professional day traders do not trade all day. The vast majority of my trading happens between 7:30am and 11:30am. That leaves 20 hours each day to do other things, like see the sights if I'm on the road.
Please note that trading is not like a desk job where I can chat with colleagues, attend a meeting, run some errands and eat lunch while working. I trade intensively. Still, it's nice to know that my money-making day usually ends before noon.
Here is the first place where you will “pay the price”: You must spend considerable time learning the craft. Alpha types that jump into day trading meme shares with social media as a guide – they are the walking dead and they just don't know it yet. Day trading requires discipline, knowledge and a lot of practice. Invest your time and effort to prove that you can generate consistent profits before you consider taking it on the road.
Let's say you did and you like the idea of seeing the world while being able to trade at least occasionally. I have done quite a bit of research about travel trading. Because I'm very good at auto repair – a skill I needed when I was disabled – I've built my own mobile day trading station. It's a $280,000 multi-monitor rig and uses a StarLink satellite feed. After hours, it converts into two full-size bunk beds in minutes. Do I need this device? No. Has day trading given me the resources to create something like this? yes.
I also focus on the other end of the spectrum: What is the absolute minimum I need to trade while on the road? Over many iterations, I've upgraded my kit to one that fits in a backpack.
My main item is my laptop, a 17-inch model made by Falcon Northwest. They specialize in computers for gamers and other high end users. However, I could certainly get away with using a Lenovo or Dell laptop, especially if I wasn't editing marketing videos for YouTube.
Related: 4 Things You Must Practice To Succeed In Trading
I prefer to use a touchpad instead of a mouse because it allows me to constantly keep my hands on the keyboard. It also means I don't need the space on the side to use the mouse. Then again, I'm sure some dealers prefer a mouse and it doesn't add much to the ride setup.
The other essential element is a 17-inch external monitor. I like the ones from Asus. They do not need a separate power cable and receive power from the laptop connection. They weigh only a few kilograms.
I also like to trade headphones, whether I'm at home or on the road, because they allow me to concentrate better. I use the kind that covers my ears and folds flat.
Sometimes, I'll get an extension cord plus a plug adapter if I'm in a country that doesn't have US type plugs. If I'm traveling for two weeks or more, I'll bring a second external monitor. It's nice to have the extra monitor to keep track of more stocks, but most days, there's an obvious stock to trade. I've always focused on that visible stock, so having only one external monitor isn't much of a hindrance.
In addition to hardware, you need a good Internet connection, which consists of two elements. First, use a Virtual Private Network or AfLwhich does two things for you: It encrypts your data starting right on your computer, so the entire transmission is useless to anyone between you and your destination. You do not want your account password to be readable by anyone but your broker. A VPN can also shorten the distance your instructions travel. I won't get into the technical weeds, but you want the shortest distance between you and your broker.
Related: I have lost so much money making trading mistakes these days
Finally, there is the speed and quality of the internet connection itself. If you're staying at a hotel, call ahead and ask them to print a report about their internet after using it. speedtest.net. It is a free service that will tell you a lot about the hotel connection. Just don't wait until you sign up to find out the link is spam.
Don't get me wrong: Sometimes, your vacation needs to be a complete break from business. But if you spend the time to study day trading hard – and stick with it through the inevitable rough patches – you really can trade from almost anywhere. There is something very cool about looking out the window at the Pacific Ocean, trading for a few hours and making $47,000. That result is not typicalbut it happened to me.