Trading has, for a long time, been viewed as a high-entry field, but today’s market is different. Now, you can travel and trade at the same time without breaking the bank if you have ambition and patience.
What’s important is the urge to learn and embrace the readily available trading options. In some cases, no capital is required to trade, while in others, a small amount will be needed to get you started. With the interlinked nature of markets, there is always open trade for travelers, and it’s just a matter of finding the
“Now, you can travel and trade
at the same time without
breaking the bank if you have
ambition and patience.”
While travelling, day trading is ideal. It is a stock trading type where both selling and buying of shares is completed on the same day. Day traders can engage in both short and long term trades to capitalise on the intraday market price movements. With enough day trading skills, you can make great profits. To find the best trading method, learn more about different avenues, including regular stocks, penny stocks, forex and futures. The following are some of the day trading methods you can engage in.
This is meant to capture varying prices. When there is a variation in the price of a stock on two different markets, the trader can buy at a lower price and sell at a higher price.
Swing traders predict the fluctuations in stock prices overnight. If you like to analyse the short-term movement of prices, using technical analysis, this will work for you. Given that prices are more predictable in swing trading, it is one of the most rewarding stock avenues. Swing traders hold positions for long periods, up to weeks, while other traders may only be in the market for just a minute.
Price Action Trading
This is a simple approach to trading. It considers the action of price only. The period of trading can be a minute, thirty minutes or an hour.
This is a form of trading and profiting in the stock market and is the most popular strategy that involves selling almost immediately once a trade has become profitable. It is a strategy that focuses on taking small profits from different trades. Here, traders take quick and small profits with the help of seek and bid differences.
This is a strategy that focuses on identifying strong trending moves with high volumes and trading news releases.
Finding the Best Stocks to Day Trade
As a trader, there are many available opportunities to embrace. Finding the best platform requires enough research to ensure you make the most out of your trading efforts. As a traveler, all you need is good internet and the willingness to trade.
Make Use of Pre-Market Movers
In the pre-market movers, a stock could be at 6 percent, but open at 2 percent at 10:00 AM, for instance.
The price swing results due to the thin volume carrying a stock outside the regular trading session. To gain an edge, start your scan at around 8 AM to get enough time for some research. Your trading platform should have pre-market movers.
Develop a Watch List
Develop a personal list of the stocks you follow every day. Given that there are large numbers of stocks on the exchanges, it is important to have a specific sector. The most popular are automotive, metals, retail and banking. After identifying at least two sectors, be sure to track their movement with CMC markets. When selecting a stock, you need to have two approaches. The first one is to select the most popular stock; and two, select your favourite based on the past trading performance.
“With the interlinked nature of
markets, there is always open trade
for travelers, and it’s just a matter of
finding the right opportunities.”
After making up your mind on the trading method that best suits you, it is time to get into the market. If trading while travelling is of interest, know the markets you should trade in based on your capital. Then, formulating a proper trading plan will be important, and be sure to decide how you should operate as a trader.
Once that is done, explore different online brokers and make comparisons of their offers to start trading. It is important to remember that it may take some time for a sale to go through, not forgetting that there are both losses and profits in stock trading.
Have you traded in stocks while traveling?
Share your experiences, thoughts and comments with us.