8 things to become a nomad trader

It is not about trend & momentum signal nor economy as usually posted on this blog. This is about How to become a nomad trader and What you need for it before becoming a nomad trader.

1. Online trading account
 It is obvious.

2. Trading devices
 Actually, it depends on your trading style.
 If you would like to look at the market in numbers or charts, you just need a Smartphone or Tablet. Those devices allows to download various apps for your trading.
 If you would like automatic trading platform such as MT4, high-spec laptop PC whose processor is Intel Core i3/5/7 or equivalent will be suitable. Once your strategy is settled in MT4, you just leave your laptop at hotel room and enjoy.

3. Trading strategy
 It sounds not only for nomad traders but also for all other traders. However, as sustainability of trading profit is more important for nomad traders, the strategy has to be enough enhanced before starting long nomad journey.

4. Debit card / Credit card
 You pay cost of living more or less wherever you are trading. VISA, Mastercard or American express are available almost everywhere in the world. You can pay by the card for cost of living , and You can even withdraw local currency using your card at the ATM.
 Ultimately say, bank account is not always necessary because sometimes your broker offers debit card linked with your trading account. As long as you keep money in your trading account, you can pay any cost directly from the trading account.

5. Money for living next 1 - 2 years
 Although nomad traders make money from their trading, the market can be volatile under uncertainty and they could make losses from the trading. Money for living will be safety net keeping your nomad life standard when unexpected losses are realized.

6. Your ID
 If you spend your nomad life in your country, it is enough to have your driving licence as your ID. If you plan to do outside of your country, you usually need your passport as ID.

7. Valid visa / permission to stay (Only outside of your country)
 Your nomad life could be beyond the boarder out of your country, and it must lead to more exciting life as long as you trade well. However, even if you keep making money from the trading, you also have to satisfy immigrant law wherever you stay otherwise you are suspended to trade and could be jailed in worse case.

8. Your family and friends in your heart
 Once you became a nomad trader, you will understand how this is important.


Obviously, you need a lot of things other than the listed 8 things in your nomad life, but you will have most of them easily.