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Iโm getting closer to being able to replace my job and fund my lifestyle through trading the foreign exchange markets. Itโs taken a few years of study and trial and error but Iโve been consistently profitable for a while now and I plan to have trading as my primary source of income.
It would be great to hear from (and link up with) others who trade, or those who are thinking about trading the markets. Feel free to introduce yourselves and bounce ideas off each other.
Which brokers do you guys use or recommend?
Late to the party, I use TD Ameritrade and have learned from TastyTrade with great success!
Hi
i trade the markets using my own capital, but find i have reached my limit in terms of how far I can go without seeking out an opportunity or third party to help me develop.
Would be interested in hearing your take on the markets . I note you talk about linking up with professional traders and wondered whether you knew how you would go about doing this?
regards
Hey, you should check out then CFDs! Usually all CFD brokers allow you to leverage your capital and this allows you to make more profit but of course you also loose money faster if you are not careful.
My broker for example allows me to buy EUR/USD for 20k with a margin of only 100 Euros and this was actually the amount of my capital at start 
After two weeks I had made 1200 Euro already
@xiufensilver is doing an article on traders and investment firms that work remotely as digital nomads for http://nomadlist.com/stories, Iโm really interested in it too, as trading seems extremely suitable to do remotely.
I would advise anyone that isnt an American that if/while you do have some form of legal status in the US, to open the brokerage accounts while you can i.e. student or work visa.
When I was in Canada I ran into the problem of not being able to open US brokerage accounts, despite not being Canadian, most firms were scared to run afoul of local regulations as Canadian residents and citizens are restricted by protectionist regulations from doing so. I ended up having to fall back on my Australian passport and was very thankful that I never became a Canadian permanent resident because of this (and other factors). Other countries may have similar restrictions. You can of course use your local brokers but they may not have equivalent or timely market access, may be lacking โborrowsโ for those who understand shorting etc. Once you do have the accounts open, you can travel the world at your leisure and trade through them from any location.
If youโre a Canadian reading this, one workaround is to go with Interactive Brokers which also has a Canadian presence if you have a minimum of $10k to open up the acocunt.
Trading is trading and once you hit the pt of being profitable, managing risk/bankroll/trade sizes you can trade anything in my opinion. The biggest barrier is capital and own costs, not knowledge.
Look into options too, lot less leverage and scammyness i.e. your own broker trading against you to deal with than forex
@hooers
I started trading Forex 6 years ago but soon realized that my way is to combine Trading and Software-Development. So, for me itยดs all about automated strategies, mainly Arbitrage. Now I am sitting in Ho Chi Minh City and hired a Developer here to get my stuff done. So, if youยดre in SE Asia, come around! 
Forex arbitrage? How does that work? Got a link? So your dev does the work you hang out with guests?
Hi all,
I am also not a Nomad yet but are planning on making the switch next year. I am looking at developing some websites and other business start ups but have been trading for the past 20 years and am looking at that to continue and not fund my travels entirely but help assist. I will be basing myself in Ubud Bali and using the facilities at Hubed so I can have a reliable connection and speed.
I trade forex, commodities and indices and would put myself in the Technical 80% Fundamental 20 % range and am sell taught through books etc but probably moreso from trial and error from trading. Like most people I had a good lucky start, then the normal overtrading/overconfident collapse to then really taking the time to study the market, learn about risk management and then earn a good enough return.
The biggest part of my trading plan is that I have no ilusions of millions just targets for normal growth.
I currently trade with IG and CMC but are looking for a better broker that is not a market maker.
@raoot1979 @TheTiwi - Itโs interesting that youโve both been drawn to eToro. Theyโve certainly stumped up a huge marketing drive in recent years on platforms such as FB and Twitter.
Trading based on the โpower of manyโ or individual traders is a novel concept but trading based on collective wisdom is probably the last thing you want to do with Forex, since the majority of traders are novices and make losses.
As for the โtop traders,โ there are a number or reasons why Iโd be wary of this. For a start, many traders have been known to โcrash and burnโ, racking up a massive amount of followers and crashing out on a trade spectacularly, taking with them their followers. The accuracy of trade execution is another issue and novices will have their stop losses hunted, meaning that the broker will take advantage of the โspreadโ to momentarily increase the spread size if the market nears their closing position, triggering an early stop loss. However, many Market Maker brokers do this and there are ways to mitigate it.
Started with a demo and began reading up on charts, candlestick patterns and technical indicators. Lotโs of trial and error until I developed a system that works for me. The breakthrough really came when I started connecting with professional traders and developed a community in which we could teach each other advanced techniques and analysis.
There are two types of traders: Those who trade based on Fundamentals (news releases, economic forecasts, politics and general happenings in the world that might affect the markets), and those who trade based on Technical Analysis (reading prove movement charts, using technical indicators etc.)
I base my decisions on technical analysis but keep my eye on fundamentals. I dont use fundamentals as a reason to make a trade though, I use them as a reason to stay out of making a trade (e.g. the current crisis in Greece)
In terms of risk, I trade 1-2% of my account size at 1:1, meaning that my profit take and stop loss are set equidistant to where I enter at 1-2% profit/loss. Then I rely on my trading edge (around 65-70%) to consistently make a profit over time.
@hooers Great info. Why did you focus on forex which has a reputation for scams and dodgy brokers (who take out stop loses, mess with spreads and manipulate) as opposed to something like emini futures trading.
Do you have a years living expenses saved up, separate to your trading capital incase you blow up your account?
I wish there was more of a trading DN community.
@hooers Thanks, some good info there.
I can see your point about the โcrash and burnโ risk with eToro style social trading. At the moment I only have a small amount invested in this and itโs doing ok so far, time will tell. The person I am copying is investing in stocks though, so itโs a bit more of a slow burner.
Felt inspired to make a few more Forex trades and based on your recommendations and iโm doing ok; 100% positive trades so far! Just need to remember not to stray from the strategy as thatโs where iโve gone wrong beforeโฆgetting brave and pushing the profit/lost wider and wider.
Would you say your approach is more like โscalpingโ , I certainly think that is what I am doing.
@raoot1979 Iโd say I still fall into the โday traderโ category, but I often hold trades over multiple days / weeks if I think they have potential. People have different definitions of scalping. For me itโs trading from anything between a 1-30 minute time frame. I donโt think you can be consistently profitable while scalping. 5 minute charts are only ever useful for pinpointing an entry, after having looked at the weekly, daily, 4 hour etc.
Iโve always been thinking about it.
Iโve been making some money three years ago on e-Toro, but I probably got lucky and so I wanted to cash out and stop it. Iโve always promised my self that if Iโd ever had some extra money I could risk I would do it again but Iโm not so confident about it right now.
What method do you use to forecast the movements of the rates?
Do you go on with risky levers or you just take it easy and slow?
Iโve dabbled on eToro, but not having a clue what I was doing I made some money to begin with and then got brave and started making losses that wiped out anything I made. Iโm still using it, but instead using their social trading feature to copy other successful traders. I like the potential speed of Forex trading but this feels much safer and less time consuming.
Iโd be interested to know where you studied Forex, was it just self taught / online guides etc? Off overseas for a year soon, so I might dabble again!
Hi guys,
After the Netherlands, the Bay Area, Colorado and being on the van life for 8 months, I am now in Sedona, AZ with a few other digital nomads. We are sharing a home here and are wondering if there are more like minded people in the area.
We do a bunch of hikes and campouts in the northern of Arizona. If you would like to connect with us, please do so :)
Val
Does anyone ever travel to any Islands like Bermuda, Barbados, Barbuda and St. Kitts & Nevis?
Hi there, title says it all. Canadian nomad hoping to find the city/town in Portugal with great, consistent surfing, a solid coworking spot, and a fun group of young nomads. Please recommend!
I'm in need of a tax advisor who understands "our" typical situation. I'm all good on being legal on taxes at this point, but as I'm doing more investing and there's more compliance and KYC and such, it's getting more complicated to deal with this topic. Not living in my country of citizenship, company in another country, resident in yet another country, banking in a different country ... you know how it is, a pile of red flags.
Would be great to find a good tax advisor to sort things in a way that makes my situation as "explainable" and easily dealt with as possible. Any leads?
Hi, I've got a question to anyone who had experience with the digital nomad lifestyle. I'm 24, I'm in my last year of university doing computer science, got 3 years of experience mostly doing web development.
I never liked the idea of staying in one place, getting a job and growing roots - hence the will to take the opportunity and travel the world. My main question is โ how do I go about it? Are there any useful resources I could look into?
How do I go about insurance and such once I decide to move. I currently live in Switzerland and do freelance work for one company. It's not a lot, since my studies don't allow me to pick up a full time job, but it allows me to cover simple expenses.
I'd be happy to get some insight into how things work and also happy to network with anyone interested.
Hi guys ! hope you are doing well.
I would love to get your feedback regarding the best insurance for digital nomads. i'm traveling around Asia since 1 year and for next 4 or 5 years. Would love to buy an insurance to cover especially :
- health
- laptop, phone ...
- Flights
Hoping to see all the cool stuff people are working on while they live an extraordinary life.
Anyone know of any groups or resources for Ph.D. students working on dissertation while living as a digital nomad? I know there are several virtual writing groups around, but wondered if there were any specifically for digital nomads, particularly those who are dissertating.
Thanks!
Hey Nomads!
Iโm looking for an international health insurance (no travel insurance) for my nomadic life. It should cover the basic services and at least be accepted in the EU (itโs ok if itโs not accepted in the US as Iโm aware they rarely are). Nice to have: enter into a contract online. Anyone got a good experience or a recommendation?
Thanks in advance!
Hello digital nomad!
I dream of being an independent digital nomad. But it feels very elusive & unattainable with my success rate. In full disclosure, whilst I have dreamed about making money online since high school; I have not earned a single cent making money online. $0, nada, zilch!! On the contrary, I have spent a lot of time & money on books, podcasts. Even though I have spent a lot of time reading/listening to others, I do not have anything to show for it!
I have made attempts in the past to start an online business, but these fizzle out quite quickly when I do not see traction especially when the goal I have set myself is too high.
Instead of reaching for the ultimate nomadic lifestyle goal, I want to start much smaller. Really small! I am simply looking to make $50 profit per month from a new online business. Thatโs it.
I need some advice from you please!
Is $50 profit too low? How long did it take you to earn $50 profit per month?
What is a good way of achieving this goal?
Thanks
Mark
aka the $0 online business entrepreneur
Hello everyone! Iโm new here and probably this is a very newbie question, but it doesnโt leave my head.
How do you, nomads, pay your taxes? I mean, if youโre constantly traveling, how are you going to pay taxes for a certain country if you are going to stay there a short period of time?
Or do you return to your โoriginal countryโ and then pay them?
By the way, this forum has very nice cool formatting features!
Hey guys, this was my first year as a Canadian nomad.
As far as I know of, Canadians donโt pay taxes if they do not live in the country for 6 months.
But Iโd like to talk to an accountant or someone who does Canadian taxes specifically for expats and nomads to get clear on the rules and for help on my return coming up.
Does anyone know someone who specializes in Canada who can help? Iโve seen plenty of US recommendations but none for us canucks.
Thanks guys!
Hi!
I am planning to move to Latin America for 3-4 months (Oct-January). Iโve narrowed down 6 different places that I want to visit before committing to settling down, but Iโd love to get some community input.
Here are the cities Iโm considering:
The most important things Iโm looking for:
Anyone have any experience with these places and can give some insight? Iโm also completely open to other recommendations.
Thanks!
Rose
I just landed as a n00b digital nomad in Mexico City, and I am wonderingโฆ Where are all the international digital nomads hiding around here? I have been to several coworking spaces (Selina etc.) only to find A LOT of local Mexican workers and businesses. Donโt get me wrong, that is all fine, but I was hoping to meet some international nomads! Any advice?
Thereโs been a lot of discussion on this recently.
Nomads usually stay in hostels, hotels and short-term apartments. But itโs all not very optimal.
Iโve heard people suggest getting funding and building a network of houses you can stay at for a subscription price (e.g. Bruno Haid is working on that).
I donโt want do physical stuff, so Iโm thinking of building a platform around making housing better for nomads.
What are the housing problems nomads face? And how can we solve them with products/services?
I vaguely remember hearing about such a service before, but Iโm drawing a blank on the name. Basically I left my tablet on a connecting flight in Europe, right before my main flight to Thailand. They have my tablet and are willing to ship it out for me, but people have warned me thereโs a big risk of it getting โlost in the mailโ if I ship something expensive like that to Thailand.
Iโm wondering if thereโs a service or community, where I can find a nomad whoโs in Europe/heading to Thailand soon, so I can have it shipped to them in Europe and pay them to ferry it down here for me? I met someone in Budapest a ways back who had built something for this type of use-case, but I canโt remember the name of it. Any help would be appreciated!
I have seen a lot of posts from different people across the world, but not even a single post from someone in India, who has been a nomad, either living within the country or traveling to another one.
Would definitely love to hear stories from such people. We are a couple traveling as social nomads who are trying to bridge the gap between the rural and urban societies in India. We have started out very humble and do not have much resources, so looking out for help from the community.
Ankit & Rishika
Around Love and Life
Hi all, I was looking for a cool spot in Southern Europe for winter and Iโm considering Sicilyโฆ Have you ever been there? If yes, how was your experience? If not, why?
thanks!
Greetings!
Does anyone have experience in Bari, Italy please? We are thinking of going from Dubrovnik, Croatia to Bari by boat in mid-March. Has anyone taken a boat across? Is it nice or can it be choppy? (We are trying to avoid planes, to reduce our carbon footprint, so adding more surface travel.) Also, any info you might be able to offer about Bari and the surrounds? Next step will likely be trains up Italy as the Spring progresses.
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