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The lure of being able to be geographically independent is a big part of what motivated me to pursue trading in the first place. This fall, it seems like I might have the chance to at least try that for a while or even longer if things turn out well.
My current lease will expire in July meaning I'll have to move anyway. I've also left my job to pursue trading full-time. So, with living expenses being what they are in Norway and also being a bit tired of living in this city at the moment, I've considered actually relocating to another country for a while.
I don't imagine moving around a lot due to the nature of our work, but perhaps staying in the same place for a month at a time or more permanently if life turns out to be good there.
Has anyone done anything similar? If so - any places to recommend or other advice that can be useful? I day trade US index futures, so time zone is an issue. Thailand seems to be popular for 'digital nomads', but the time zone might be a problem.
Considering the cost of living in Norway and a desire to reduce expenses while trying to make it as a full-time trader, it might even be an advantage to be living outside Norway for a while.
difficult :
I traveled to more than 100 Countries and my dream-country is Mauritius: 50 scuba diving center and best location for Offshore-banking . However it is difficult to get the Resident Permit.
I quote:
"For who does trading professionally (buying and selling securities frequently to obtain an income for living) as "traders", this will be considered income subject to personal income tax rates."
a nice project is maybe https://fortgalt.com
the first 3 to 6 years are tax free in Chile
If it helps, the worst trading I every did was during the periods when I was relocating to other countries (I've had 4 major moves). And that was 100% mechanical system trading. Yet the instability still managed to screw up my game every-time. Next time, I'll just stop trading for 3 weeks.
Tokyo is east Asia, and therefore it is worse for diverse liquid market trading than the more-so "west" Asian centers. Even a few hours west, eg, BGK, Sing makes a difference for US mkts: 9pm v.s. 1pm is a big difference relative to normal sleep habits. You can trade Bunds ok from 3pm local time. Cash JPY and AUD pairs via an ECN FX broker are ok choices if you can go without a centralised market place, meaningful B/O data and want to pay 20% of a 4 pip scalp in bro.
It is a compromise.
But if you want to mainly trade HSI, MJNK (and TSE stocks, maybe some ASX stocks in play). Maybe thin[er] CL?? Then Tokyo is one of the coolest and safest mega-cities you could ever live in. Great food, great lady prospects if you are single, great skiing via public transport. Sucks in summer.
Yes, that's the problem and also why Thailand while seemingly a favourite among 'digital nomads' and a great bang for the buck is not ideal for traders trading US markets.
I've specialized in the ES (e-mini S&P 500) and don't see that changing anytime soon, I'm afraid. I hear great things about HSI, but would expect a transition period for learning a new market.
Are you a Western living there or a local?
On the subject of lady prospects, I actually heard it was hard for western males to get anywhere with the local ladies, but maybe that's not the case then...