Trading whilst travelling - does anyone do it?

shag said:

yes, just like we believe u dont ever touch tequila or have not been itching to get some more good lookin CSG stock today.

do they still sell u off bit by bit if u end up in a mexican hospital, or was that just the old days....

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No one would want any of my bits. Unless they like pickled livers.

Missing some damn good short term opportunities here. Damn it! Sell in May and go away isn't quite holding up at the moment.

However, metric tells us that Reinhardt (who has predicted 10 of the last 3 stock market crashes) has labelled 11 and 13 as bad dates. So, go long on 10 and 12th I'd suggest.

Stimulus! Mmm I love the smell of changing the seasonals in the morning.

Totally stolen from another source, Kennas.

Unsustainable Kennas JMO! You know what I mean.

DYOR

Yes via Iphone.

But honestly, the beauty these days of either having standing orders already for exits or the ability to use contingent orders, trailing stops means that you can let technology work for you and try and use automation to get trades executed and perhaps take emotion out of your trading.

A good example of this is symbol:GLD which is a gold ETF traded here in the use tracking gold prices.

I have a long entry set to purchase on breakout-once entered system will automatically enter my stop order and sell target order (using triangle pattern target)

If price breaks down my short sale will be entered with subsequent buy stop which will be a trailing stop, and a buy to close target.

thats the beauty of developing trading plans and contingencies.

cheers

Derek

An update on how it went:

Probably not worth my time. I attempted to allocate 2 hours each morning to monitor my trades and then do my scans one day on the weekend. I ended up breaking about even. The problem came when I had a big night and ended up sleeping somewhere where my computer wasn't, wasn't able to adjust my stops etc for that day, put myself at huge risk. I think breakeven was a good result considering what could have happened on those days!

Wont attempt to do so again....lesson learnt

Tradesurfer said:

Yes via Iphone.

But honestly, the beauty these days of either having standing orders already for exits or the ability to use contingent orders, trailing stops means that you can let technology work for you and try and use automation to get trades executed and perhaps take emotion out of your trading.

A good example of this is symbol:GLD which is a gold ETF traded here in the use tracking gold prices.

I have a long entry set to purchase on breakout-once entered system will automatically enter my stop order and sell target order (using triangle pattern target)

If price breaks down my short sale will be entered with subsequent buy stop which will be a trailing stop, and a buy to close target.

thats the beauty of developing trading plans and contingencies.

cheers

Derek

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What software can you use to monitor this and place trades for you? can it work with comsec?

I guess some of it depends on where you are located and how much automation.

In the US I use TD Ameritrade's Strategy Desk but you could also use Tradestation. There are third party applications such as esignal that you could probably use who plug into a broker. But that would be for more trading systems or formulas I've created. There are a bunch that does this and full disclosure I used to work for TD AMTD(no affiliation now)but do like the platform. If your trading forex GFT or FXCM offer some automation

But- for conditional orders you might not need a robust platform per say- many brokers now offer simply on their website the ability to enter these types of orders. Sometimes refered to as conditional- other times called bracketed orders

Conditional orders are where you can really set up the entire play. like order cxl's order or one triggers another. Or if buy XYZ- then set trailing stop and sell limit. If one fills cxl the others.

For example I had an order on FXCM recenty where I wanted to buy the NZD/JPY pair if it broke above a technical level. So I had my buy in, and if it triggered where I bought immediately I had a trailing stop in the system as well and a sell limit above the market.

I was away for a couple days and the whole thing was entered and exited while I was away.

One thing to consider is whether YOUR computer needs to stay connected while your away. Those conditional orders, those were on the brokerage firm's or forex firms servers so I didn't need to worry about anything. My computer could be off etc

For some more complex formula based startegies, buy when MACD crosses center line, its a tuesday, and stochastics is greater than 50 types, if your using a platform and its your computer that triggers the signal (ie held on your machine) if your computer got disconnected from the internet your order may not go.

I believe there are services out there that may run your auto formulas on their servers though.

As for brokers in different parts of the world I'm sure someone can help you out with that. From the forums and I've seen some posts citing platforms.

Hope that helps.

sammy84 said:

An update on how it went:

Probably not worth my time. I attempted to allocate 2 hours each morning to monitor my trades and then do my scans one day on the weekend. I ended up breaking about even. The problem came when I had a big night and ended up sleeping somewhere where my computer wasn't, wasn't able to adjust my stops etc for that day, put myself at huge risk. I think breakeven was a good result considering what could have happened on those days!

Wont attempt to do so again....lesson learnt

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If you have time Sammy, there is a similar thread on the forum link in my sig if you wanna chat about travel there

Hi Folks,

For those who have done it, any tips on accessing your broker from overseas.

These are the options, iPhone on roaming, unlocked iPhone on local prepaid, laptop with wireless broadband on roaming ( 3shop guys tell me this costs a fortune), laptop with local prepaid wireless broadband, prefer to take both for redudancy and I prefer to use my own gear, local area networks and shared computers give me the creeps.

Finding it difficult to get pricing on data roaming & telstra doesn't offer iPhone with plan.

What do you guys reckon ?