Who doesn’t want the option of being able to work from anywhere in the world? All the while doing work they love, work they’re good at, and work with limitless upside earning potential. This is one of the greatest pros to becoming a consistently profitable and funded forex trader.
You can work from home on your own schedule… or you can choose to up and leave as you please and continue to work as you would but from anywhere on the planet. Those with a desire to travel and experience new things abroad will benefit greatly from trading especially at a professional / highly competent level. In this article we’ll be breaking down the process of how you can make this goal a reality… progressing from being a newbie trader through to being both consistent and funded with the option to trade and scale one’s capital while seeing the world.
Picture this. Waking up in a villa somewhere abroad, say Bali Indonesia. You’ve got the pool there in front of you, a masseuse in-house, breakfast being delivered, and a warm breeze rolling in through your suite. Depending on the trading session you regularly trade, you’ve got the whole day to do what you want to do… knowing you’ll be able to show up to your trading session with a laptop and a wifi connection and you’ll be able to execute on opportunities and pay for this lifestyle with ease.
The beauty of being able to work abroad especially as a trader is that there is no income earning cap all the while being able to live in places around the world where costs of living may be a half or a third of the cost of where you currently live. Wealth is nothing more than a ratio between your income and your expenses, so if you can work from a place where living is cheaper, you’ll be able to take what you earn a lot further. This is one of the many benefits of being a digital nomad. In the earlier stages of honing your skill set, you can go where living is less costly and you can thrive in comparison to where you may currently be living, even while learning and earning less. The truth is though, if you can see it in your mind, you can bring it into your reality. It all starts with a vision and a plan. From there, it’s simply executing on that plan.
Bringing This Vision To Life
This part really isn’t all that complicated. It simply comes down to developing and honing your trading skill set. This is the ability to consistently generate a return on the capital that you’re trading with confidence and predictability. As soon as you’re capable of doing this, you’ll be able to acquire and scale capital funding from prop firms or from private investors in the 5, 6, 7 and even 8 figure ranges depending on how good of a trader you become. Honing this skill simply comes down to practice, just like learning any other skill.
The fastest way to hone your trading skill is to practice a set strategy and to have support and guidance from a coach or team of coaches and to be surrounded by like minded individuals with similar goals. This is something we offer here at Phantom Trading for traders of all skill levels looking to level up and progress towards consistency and funding. We have a 12 month trading roadmap / blueprint that we put our members through to help them plan out their journey to consistent profits and capital.
What you need to do is commit to one trading style, to learn from one mentor (or team of mentors who trade in alignment), and to be supported by others who are on the same path and are facing the same obstacles and adversities that you are.
What we’re trying to make abundantly clear here is that everything starts with your skill set. Being great at what you do will open up all of the doors of opportunity for you. Prior to being great at what you do and having the ability to generate consistent returns as a trader, these doors will remain closed. It’s when you can do what you do with consistency and predictability that you’ll have options.
Setting Proper Expectations About Digital Nomadism
With freedom comes responsibility. We say this because oftentimes traders will fantasize about making millions while on the go and that it will be completely stress free and easy. That’s often not the case. You’ll experience good trading sessions and bad trading sessions abroad all the same… but this time with the added complexity of being in a new environment where distraction is abundant and you may struggle to focus like you do at home.
Of course there are ways around every obstacle that we face in work and life, but we just wanted to set correct expectations in advance before you take off somewhere new. It’s still work. It still requires discipline to be successful at trading or whatever it is that you’re doing abroad. The exact same, if not more discipline than is required at home.
You’ll have to schedule out when your trading sessions are in the new timezone you’re working from. You’ll have to set out time in what is most likely a busy travel schedule to prep for your sessions and to decompress after the session has ended. You’ll have to manage positions on the go from your phone or laptop amongst the day’s activities. And by no means are these complaints at all. This is a huge opportunity. You don’t have to forfeit life for work. You can do both. There is a new phrase in the online business / make money online space referred to as “work-life integration”. This encompasses the ability to have both on the go day to day rather than separating work and life into two categories.
It’s normal for us to be brought up and thinking about work like this. We go to work, work ends and then we come home and have leisure time. We work throughout the week and then we have weekends off from work to do the things we love. This is no longer the case when you have a skill set like trading in your back pocket. You set the terms. You make your own schedule. You can trade as much or as little as you like. And you can do it from wherever you live or are traveling and earn just as much or just as little as you choose (again, assuming you’re confident and consistent in your ability to generate positive returns).
Freedom and Unlimited Upside
Moving on, this may be the most important point in this article so pay attention! What we’ve found to be the greatest detriment to the traders we’ve worked with over the years (nearing 10,000 students at the time of writing this article), is impatience in their progression. Hear us out on this. Most traders get into the game wanting 6 and 7 figure months within weeks… only to realize that it actually takes a lot longer than they initially thought to become truly great. This instant gratification sets them up to fail. They don’t get the results they expected fast, and so they think they are doing something wrong, when in reality, they simply need to keep at it much longer to realize real progress.
There are no bounds on the freedom and the income you can earn as a trader. But only the top 1% will ever realize those benefits. Now we want to demystify this notion about the top 1% and what it takes to get there. How does one become top 1% at anything in life? Is it either through sheer luck, or it’s through practice and discipline to develop good processes, skills, and habits over time, right? Trading is no different. The best of the best became obsessed with growth and they didn’t judge their progress too early. They suspended their disbelief for as long as it takes to make it work. If you never stop trading and showing up, you’ll never stop progressing and improving. It’s as simple as that. If you never stop honing your skill, you’ll never stop growing. Those who make 5, 6, 7, 8 figures a month trading the markets, they just never gave up. They committed and decided that it didn’t matter to them how long it would take to see results because they knew eventually they would get there and at that point, it would be worth it.
You can be, do and have whatever you want when you’re at the top 1% level. Picture trading a 100k, 200k, 400k account and making 10% returns per month. Think about what that equates to per month. Think about what that unlocks for you. Where you can go. What you can do. Who you can take with you. What you’re able to experience at that level. It’s not out of reach. It’s simply something to be worked towards. Something that can be accomplished regardless of where you’re currently at right now. You just need to commit to the journey of becoming a top 1% trader and see it through regardless of how challenging it becomes. It doesn’t matter what path you choose in life career wise, every path has its challenges. It’s part of what makes us grow as people. Without adversity we wouldn’t grow. Under enormous pressure and heat, diamonds are formed. It’s the same way with us. Accept that there will be challenges, and know that most will give up along the way because they don’t have the right expectations or beliefs, but you do… and so you’ll make it and they’ll all wonder how you did it.
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FX Trader & Analyst
Writer & Editor
Rob is a funded trader from Toronto, Canada, and has been trading currencies, commodities, stocks, and cryptocurrencies for over 7 years. Outside of trading, he enjoys making music, boxing, and riding motorcycles.