According to one of the well-respected financial advisors at Olsson Capital, it is known that financial market trading while struggling with a tight travelling schedule could be very stressing. You know you can’t be carrying your desktop whenever you are boarding your bus. But that should prevent you from trading the financial markets. There are ways of trading financial markets even when travelling.
Below are ways in which you can manage trading even when travelling around the world:
This is trading using your mobile smartphone. Most financial market brokers have realized the need to have mobile phone trading platforms since most of their clients are ever busy with very limited time in front of their computers.
With the mobile trading platform, you can monitor and manage your trades from whichever place, even when seated on the bus or in your office at your place of work. The only disadvantage is that majority of the mobile trading platforms have very little or no trading tools like technical indicators. Therefore it becomes hard to analyse the markets.
With the mobile trading, you can depend on a signal provider so to know when to place and exit trades. With a signal provider, you will be able to place accurate trades and also exit them in time to make profits.
And since you will not also be staring at your phone all the time, you should use stop levels. Every trade that you place should have a take profit and stop loss level. The stop levels minimize the risk levels since your order/trade will be closed at your anticipated level and even if it was a loss it will be something that you had also planned for. The mobile trading platforms will allow you to even adjust your stop levels accordingly according to how the market prices will be changing.
Opening a managed account
Managed accounts are one of the best ways of investing in financial market trading especially when you do not have enough time with the markets.
In managed accounts, you deposit your investment funds with another trader who is a professional in trading so that he can manage the trading for you. In this case, you enter into a contract on how you will be receiving your rewards and after how long.
However, choosing a managed account service provider is a very delicate process since the wrong choice would result in getting scammed out of all your savings. There are very many scammers out there who are pretending to be managed account service providers while in the real sense they are just after your money and once you deposit funds with them that is the last you will hear of them. Most of them tend to bring complications, which makes it hard for you to withdraw your funds. Therefore, you have to carefully go through the rules that the managed account service provider provides so that you can know what to expect from them.
You can also seek advice from people who have used managed accounts service providers before or simply go on the internet and search for the reviews of clients of the specific service provider that you wish to investigate.
With the right managed account service provider, you will not have the stress of analysing the markets and monitoring trades. You will just be getting your profits from your account manager at the time you agreed.
Using automated trading
Another option is using automated trading. This entails the use of programmed trading strategies to trade. The programs are usually referred to as trading experts.
The trading expert advisors (EAs) are programmed to analyse the markets, identify the right entry point and also the right exit pint without the assistance of a human trader. Therefore, once you turn it on, then you can go wherever you want and the EA will do the trading for you. The only thing you will need to do is to keep on checking on how it is trading, which you can do from your phone in case it starts misbehaving.
Some trading EAs are freely downloadable from the internet, while others require you to cough some money. Better still, you can program your own EA if you got the programming skills, the time and a good understanding of the financial markets.