How To Live As A Digital Nomad
A digital nomad is a person who travels from one place to another, combining work with adventure and tourism. In other words, a digital nomad is someone who leverages on the internet and technology to work remotely and more so conduct their lives in a nomadic manner. Some digital nomads move for a few days while others prefer to stay put for several weeks or months. The digital nomad concept became better known in the last five years. Digital nomads can be anything from bloggers, writers, small business owners, stock traders, freelancers amongst many other professions. In a particular way, working and living as a digital nomad is more demanding than working from a settled place.
Stock Trading
Stock trading refers to the act of buying and selling shares of different companies listed in the stock exchange. Digital nomads can take up this form of trading as they travel. They can trade stocks using several platforms that are available online like the MT5 platform. For those using smartphones, they can download applications such as MT4 and MT5 application that allows individuals to trade stocks online efficiently. Companies can either be owned individually/privately or publically held where the firm is in the hands of numerous people or corporate entities. Public companies are those whose stocks are listed on the stock exchange and where their shares can be bought or sold. The MetaTrader 4 platform can also be used while trading stocks. They are defined as CFD assets which man that the traders who purchase CFDs on stock assets do not own the shares and there exists no physical transference of the stocks from seller to buyer. Now what happens practically in the Met trader four platforms, the trader buys contracts based on the price of each share. The primary aim here is to gain from the difference in price from the trade entry point to the exit stage.
Financial Trading
Financial trading deals with buying and selling of financial instruments either online or on an actual platform. The cash instruments include bonds, forex, and shares. They can also be CFDs, options or futures. Whatever the tool is traded the outcome is always to make a profit. This is achieved by buying low and selling high. If an instrument is sold than one bought it, one might make a loss. With this in mind, a digital nomad can maximize on financial trading to earn an extra income. Financial instruments can be sold or bought in two ways. One; one can trade them on exchanges, highly organized marketplaces where one instrument is purchased or sold. Secondly, they can be traded over-the-counter, when the parties agree to trade the instruments amongst each other. For instance, one can decide to trade a CFD with a provider.
Precious Metal Trading
Precious metals offer several insights into economic health and are often viewed as a haven during moments of economic turmoil. Digital nomads can leverage on this platform. In essence, market demand is not driven by any particular geography. Majority of the investors trade precious metals to diversify the portfolio and hedge their positions, even during times when markets are down. Digital nomads can do this online through several available platforms. In today’s trading arena, it is possible to gain revenues from a commodity such as gold or titanium without physically owning the metals. One of these platforms is Avatrade where one can easily trade platinum or gold online. One uses metals trading using brokers where the trader can enjoy maximum benefits.
One of the significant advantages of trading metals online is short selling. This is also referred to as going short where a trader profits on decreasing prices. The process allows one to trade and benefit when the markets are entirely down. Compared to physical metals trading, trading metals as CFD trading come with higher liquidity and flexibility which allows the trader to go with fewer risks compared to actual metal trading.