Traveling can be an enriching experience, a privilege that not many people are ready to dedicate their lives to. But while adventures and stories can be priceless, there will always be financial needs before you can pursue them. The good news is that giving in to your wanderlust and financial independence doesn’t have to be mutually exclusive. In a previous 1waytowanderlust article, we talked about odd jobs that you can do while traveling to earn extra cash. Today, we will continue on that note and focus on trading stocks as a financial option for travelers.
What is Day Trading?
Investopedia defines day trading as buying and selling a financial instrument, in this
If that sounds too good to be true, then you have to understand that this level of success isn’t achievable overnight. While most think of the stock market as a magic portal to instant wealth, the reality is that day trading is as hard as any other job. The learning curve is steep, the stakes are often high, and progress can be slow.
Take, for instance, the story of Marcello Arrambide who goes by the name of Wandering Trader. He has been going around the world and trading for 10 years. He shared that he has been able to trade stocks with an internet connection that is as slow as 1
What to Expect as a Day Trader?
Grinding for even the smallest yields is part and parcel of any day trader’s life. When day trading, especially for a beginner, the dividends can range from minuscule to uncommonly huge. The former is often the norm. That is the nature of the game, particularly when there isn’t much going on in the market. Nonetheless, trading can function like passive income. While you can grind it out and spend every trading hour to make a profit, the truth is that some of the best trades you will have might come when you least expect it. You’ll never know with absolute certainty when a company’s stock price will blow up. You need to make calculated guesses and be patient to make your money grow.
The good thing is that, as a trader, you control your time. You can do other things while trading. You can travel, learn a craft, meet new people, and basically enrich your life in other ways. While the most committed day traders will devote many hours of their day to just trading, those who wish to do other things have all the freedom to do as they please.
How to Get Started with Day Trades?
The first step you
Real estate is among the highest in terms of liquidity and yields. Welltower Inc., which is currently selling for £58.03 ($75.99) per share is among the top performers. Gaming is another good industry to watch, as the sector continues to grow. Game development behemoth Electronic Arts is listed on NASDAQ and continue to command decent yields, albeit at a high stock price, which currently sits at £69.66 ($91.74) per share. Staying in gaming, particularly mobile-focused companies, one of the strongest current performers is Gaming Realms. In June last year, the UK-based firm signed a two-year licensing deal with GVC Holdings,
You can think of day trading from a traveler’s perspective. You cannot explore every path that you come across in one vacation. You can survey the location (market) and pick the ones that you think will give the best adventures (trade opportunities). But at the end of the day, you’ll never run out of places to discover. If you can incorporate day trading into your daily schedule, you can make it an enjoyable part of your travel routine.
Also published on Medium.