One of the best things you can do while traveling is trading! The first time I went on a business trip, I had a big problem because I was so used to working with a multi-monitor setup, and my trading was terrible. It took me a lot of thinking and practice to make trading from a laptop feel the same as my office.
Many traders will go somewhere with summer approaching, so I would like to explain to you all the details of how I trade while traveling, so you don’t make mistakes I made and save a lot of headaches and money.
Let’s start with the first and most critical point
What You Really Need To Trade While Traveling
Before you start thinking about what equipment to bring, you need to make sure to ask yourself what you need! I’m saying this because I traveled with a 40’ monitor and many stupid things that were making everything 10 times harder to set up and enjoy traveling.
You need only two things to trade successfully while traveling: one laptop and a stable internet connection.
Laptop: Picking a laptop is a personal choice. You don’t need anything extra special since most trading platforms will work even on the PCs made 20 years ago,
The only thing I suggest would be to use a laptop that has good resolution (more data than we can see is usually going to be better for traders). If you need a second screen, you can try using your tablet or grab one of the USB monitors.
Keep in mind that the fewer things you carry the more accessible trading will be to you. If I don’t need more than my MacBook 15’ screen, you should be more than okay with working from one screen only.
Internet Connection: This is a crucial part for every trader. I suggest that you check with the hotel you are staying at and ask if they have private lines. It’s around $5-$10 per day, but it’s cheaper than using a slow connection while you are in a trade.
The second option (that I prefer) is using a 4G connection and your phone data hotspot as a connection. This method works excellently in most countries, and you don’t need anything special while you make sure your phone is charged 😊 .
Now, let’s move on to the details on how to set everything up.
Virtual Servers & Remote Working
With the recent events in the world and most people working from home, the idea of remote working has become much easier to explain to people.
Like we said, to be good at our trading “job,” it is crucial to have a good internet connection, so I prefer to have all my trading stations on my main trading desk and use a remote desktop to execute the trades.
However, most traders have a quality stable connection in their homes, so it’s better to leave them turned on and not worry about that part. Also if you have any algos that are running, the chance of making them work 24/5 while traveling is next to impossible.
The easiest way to set up your remote station, from my experience, would be to use AnyDesk or Windows Remote Desktop. I strongly suggest that if you are not that experienced with pcs to go with AnyDesk. It’s free software that you can get on their website: https://anydesk.com/en/downloads and it’s a two-minute job to download everything.
If having your home pc turned on 24/7 is not an option for you, I strongly suggest finding a virtual server. The prices these days are affordable. It’s like $10-$15 per month, and you won’t have to worry about connection and power issues.
Best Apps I Use While Traveling
Trying to use as little equipment as possible is the key here, so I do not want to talk much about all the apps that I use in my trading. I just want to mention a few that can be useful in your traveling journey.
Trading View has been my favorite charting platform for years now. After trying everything on the market, this is the only charting solution that allows me to have an identical view of all the charts that looks the same across all devices.
For me, as a technical trader, having a quality charting solution is a must thing; with Trading View having so many tools and options available, every trader can find what they need.
You must have your broker platform installed on your phone. I am the first person to say that I hate trading using the phone, but it is 10 times easier to manage your trades from the phone while you are on the go; compared to stopping to turn on a laptop, finding WiFi, etc.
For me, the best platform choice would be Interactive Broker and Meta Trader 4. Check with your broker about what platform they use and find the app.
We touched on AnyDesk already: it’s tremendously simple to use the application. So, I want to make sure to have access to my trading desk from all devices. Working from the phone can be annoying since the screen size is terrible, but if you need that special confirmation or to check your algos on the fly, this is the must-have app.
Essential Things to Check Before You Go!
Trading while traveling can be good. Just make sure to give it a good test run before you start. The best-case scenario is to try working from your favorite pub or cafe for a few days, just to make sure you can do everything with your setup.
Also, this way will give you a full idea of what parts need to be tweaked, so you don’t need to improvise something when you start trading over your remote station.
Enjoy Your Remote Working
Trading should be fun if you are on holiday or just traveling somewhere. Try not to spend that much time on your screens. A good trader needs a max of 1-2 hours to build a plan and set up trades, focus on what is moving, and find a good system that will help you enjoying your career.