Travelling is a great experience; however, not all jobs are great for travellers. Some jobs demand the physical presence of an employee for the task to be completed. Online trading is one of the most convenient ways one can make money while traveling.
You can trade online from anywhere as long as you have access to a laptop/smartphone and a stable internet connection. Below are some of the benefits traders who love traveling enjoy when they decide to trade via a trading app.
Swing Trading and Flexibility
Swing trading usually takes advantage of the price fluctuations that may occur during certain stages of the lifecycle of a particular trend. Swing trading offers much more control and flexibility when it comes to online trading. The speed of using online trading portals and apps has benefited many traders.
As a traveller, you will need something that is flexible which will fit in your travel plans perfectly. Most of the traditional brokers will require appointments to initiate a trade. Sometimes, the broker may insist on a face-to-face meeting which becomes inconvenient to most traders who love travelling. Such scenarios can cost you a lot of money and may not fit in your travel plans.
Trading apps and portals have been developed to eliminate this problem. With an online trading app, you can execute a trade almost immediately from anywhere in the world. If you want to succeed in swing trading, you must be good at spotting trends and moving fast to take advantage once the trend gains momentum. This is also a great way of making money while traveling using a trading app if your market research and data is accurate.
Online CFD Trading and Value Added Services
The various Contract for Difference products allows online traders to speculate on the price movement of different types of stocks in the market. Trading CFD does not permit you to own the stocks. However, you gain value-added services hence making more money in the process.
You take trading in your own hands which guarantees increased freedom and quick elimination of any brokerage bias. Online trading apps help you to eliminate any biased broker advice. Since numerous online platforms are available where you can source your information from any part of the world. You will sieve fake news from the real ones and trade based on your market analysis not emotion. This is a significant advantage to travellers since you won’t interfere with your travelling plans trying to book an appointment with a broker to gain some investment advice.
Day Trading is a good option for monitoring of your investment in real time
Day trading involves buying and selling of stocks throughout the day with the hope that the price of the stocks will decrease/increase in value during the day allowing you to make profits. With an online trading app, it becomes easy for you to see how your investments are doing in real time.
You can easily stream your data from anywhere in the world. You have access to real-time stock market news and quotes. For a trader who loves travelling, this may simply involve picking up your phone to call a live broker or browsing a given website to get more accurate market information. Trading becomes more convenient even as you enjoy your holiday overseas.
Position Trading and Cost Saving
Position trading is viewed as a long-term strategy where online traders buy and hold securities for weeks or even months. The decision of buying or selling the securities is usually based on in-depth research of market trends. One of the biggest advantages of position trading to travellers is the lower fees involved. This means that you don’t have to pay transaction fees to the extent of missing to enjoy your holiday away from home.
In position trading and other forms of trading, you will pay anything between £4 and £8 to buy and sell stocks. Furthermore, you can easily exchange your traded funds online at reasonable exchange rates. Companies such as CMC Markets are much cheaper charging as low as £4.5 per stock trade which will enable you to trade much more.