Trading while traveling comes with different challenges and perks. As you discover new places, try new things, and meet different people, you can also make money by investing in different financial instruments. Just because you’re traveling doesn’t mean you have to put your trades aside. There are different ways to monitor the market and make sure all your trades are performing well while you explore travel spots. Let’s take a look at some tools you can use to monitor the market while traveling.
TradingView
TradingView is a comprehensive web-based platform and downloadable mobile app that provides traders with a lot of tools and data that they can use to make financial decisions. It offers all you need to track the market while you’re on the move. On TradingView, you can access price charts for thousands of global financial markets regardless of where you are.
TradingView also comes with beginner-friendly technical indicators for spotting trade entry and exit points. You can keep up with all that’s happening on the market with the news and economic calendar on the TradingView app. The platform also offers an advanced stock screener for finding promising assets and charting tools.
Robinhood
When you’re on the go, you definitely need a financial trading app offering a commission-free online stock trading platform that allows you to buy and sell stocks, options, ETFs, and cryptocurrencies on your smartphone. You can access the trading tool on the mobile app or your desktop device, which means you can go wherever you need to and still be able to track your wealth management progress.
Robinhood offers commission-free trading, real-time data, and advanced charts. These tools allow you to view details about the market, like news and the performance of financial instruments, in real time. While trading abroad, you might be worried about safety, and Robinhood offers robust security, including 2-factor authentication.
Google News
You need a news aggregator app if you’re planning to travel around and trade at the same time. An aggregator compiles all trading and financial-related news into one page for you to scroll through. Whether it’s the stock market or the crypto market, there are always fluctuations and movements that you might not expect, and if you want to avoid missing important news and data releases that would affect the value of stocks and other instruments, then you need a news aggregator.
One of the top aggregators is Google News, which offers access to diverse information like breaking news, local and national news coverage, and analysis from different countries. You can also personalize your content to focus on stocks, cryptocurrencies, ETFs, or whatever you want to trade in. Google News also allows you to subscribe to different news providers and topics, as well as bookmark and share articles.
Hootsuite
Sometimes, you might have to track conversations and sentiments around the financial instrument that you want to trade in. Aside from checking the news, you can also monitor social media platforms, especially for cryptocurrencies, which are often driven by online sentiment. One tool that you can use to monitor the market on social media is Hootsuite.
Hootsuite is a social media management platform for social listening. It allows users to monitor and analyze conversations happening across different social media platforms about a topic like a stock or digital coin they want to invest in. This offers real-time data about what people are saying about the topic.
The Motley Fool
If you need a tool to recommend stocks to invest in while you’re on the move, you can consider The Motley Fool. While traveling, it might be hard to research new stocks to invest in as you’re focused on having fun or the logistics of getting from one place to the next. The Motley Fool Stock Advisor recommends two stock picks to its subscribers every month, so all you have to do is invest and watch the market.
The Motley Fool also makes it easy for you to get the latest reports and resources on the market. Every month, they offer detailed reports about stocks and other financial securities, so you never miss what’s happening. They also provide full analysis for beginners. The Motley Fool can be accessed from anywhere.
Thinkorswim
Individual traders of stocks, options, and futures can consider using Thinkorswim while they’re traveling. This is a trading platform from Charles Schwab that allows you to monitor and trade on your mobile device or desktop. So, if you need a tool for both tracking and trading assets, you can consider Thinkorswim.
For one, it offers tools for researching volatility, options, and the probability of financial markets. What’s more, there is built-in education that helps you identify potential investments. Thinkorswim users can customize the platform to meet their needs, such as charts, orders, and interfaces. If you’re new to trading, you can practice virtual trading without risking real funds.
TradesViz
If you want to track your trades while traveling, you should record everything in an online trading journal. It’s easy to forget what’s happening with your trades when you’re having fun, which is why you should record everything as it happens in a journal. One well-known trading journal is TradesViz, which allows you to monitor your trades, analyze performance, and learn from their experiences.
The best part of TradeViz is that you can sync it with your trading platform and import data from different brokers. For beginners, there is a built-in simulator that you can use to learn how to trade in stocks, futures, forex, and options. TradesViz automatically tracks your trades, making it easy to check how your investments are performing.
cTrader Risk and Reward Charting Tool
While you’re on the go, it’s also essential for you to manage your personal risk while focusing on your returns. A good tool for travelers is the cTrader Risk & Reward Charting Tool, which allows you to place trading orders while marking your entry and exit points at the same time.
The cTrader tool allows you to set how much you’re willing to risk on each trade so that you don’t experience losses. You can also calculate position size, automatically update it, and plan trades based on risks and orders. The tool can be downloaded on your mobile device so that you can track trading risk wherever you are.
Monitoring Your Trades While On-The-Go
Traveling around the world offers a lot of opportunities for freedom and adventure, but you also need to focus on your finances. Whether you’re a beginner or an experienced trader, you can monitor the market movement, check technical indicators, keep up with the latest news and reports, and invest in financial instruments while traveling.
