I am looking at any value-providing businesses now through the lens of trading and I see almost always enormous black pits for "investments" that go in one way only and absolutely no any risk-management, no statistics, no modelling. Totally illiquid. And more than often returns are meager. So trading comparing to that is actually a very conservative business.
And you depend on so many other entities and people who f..k you up all the time. That is my reason being in trading - if I f...k up, 99% it's my fault. In business it will be at least 50% someone else's. And risk is measurable. And it's scalable unlike many businesses.
On my part, I have been trading in Dominican Republic from beach, in Canary Islands from beach, in Croation from aboard a yacht. All relatively civilized places so 3G mobile internet was good, but having your platform set up in a cloud on VPS and accessing it via remote access makes requirements for pins and bandwidth much much less.
Living as a nomad is quite aspiring to a part of me, but having a family makes it all questionable. But I find that settling in a rounded-up nice place and having frequent mini-vacations actually compensates it a lot.
Trade to live. Not live to trade.
The following 3 users say Thank You to xelaar for this post:
Been following this thread with interest.....and I agree that lots of mini vacations (2 weeks to 3 months) makes a lot of sense for a trader with a family like me. If one keeps their living expenses low at their home base, this becomes very doable.
Back in the day when I was a high powered mortgage banker, I routinely took 10-14 weeks a year off spread out over the year. My team kept things running while I was away. Trouble was, my office overhead was $80,000 a month before I got paid. And it took $250,000 to set up the office, hire staff and market the first year with no degree of certainty of a pay off....it paid off quite nicely but in the end, the $80,000 of overhead eventually killed it when the market turned sour.
Trading can provide the income without the massive overhead, if you are smart, trade with discipline and know exactly who you are as a trader. You need capital of course but you don't need $250,000!!!!
Simplicity is the ultimate sophistication, Leonardo da Vinci
Most people chose unhappiness over uncertainty, Tim Ferris
The following 4 users say Thank You to PandaWarrior for this post:
What most people do around here is just own or rent a vacation home down south and travel there in the winter. Domestic internet connection is pretty reliable for even scalping especially if you use a vps. Of course this strategy would require having enough money for more than one home, but if you figure you have enough to vacation abroad all the time you probably have enough for another home. This would cut out a lot of the hassle of travel.
And if all else fails, just travel for a month or two without trading. Don't need to always mix work with pleasure. There's a reason the summer market is dull.
Last edited by Itchymoku; April 1st, 2015 at 03:37 AM.