Day trading as an RV nomad sounds like a lot of fun, doesn’t it? You can travel all over the place, making your trades while you are on the road. Are you going to have someone with you? If not, traveling alone can be lonesome. You want to be a nomad, not a hermit. Of course, you are going to see all kinds of people as you make your way around. As long as you are able to be financially stable pursuing that goal, it sounds like a dream.
Day traders can take heavy losses at times, depending on how you operate. Keep that in mind as you pick your trades. If you have enough money, you might be able to make investments that bring enough income to sustain you. If you simplify your budget, you might even be able to stop trading. You could live off of the income that your investments provide.
For example, I know of one investment I call rather stable right now that pays almost 8 percent interest monthly. That type of interest compounds quickly. In your case, you would want to live off the dividends. So to put it bluntly, a 50,000 dollar investment would pay 350 dollars a month in interest.
The 8 percent figure I gave you was based on the price of the stock, which fluctuates daily. The same goes for how many shares $50k would buy you. Yet the 350 dollars a month is based on buying $50k worth of shares at $10 a share. Right now, the stock I’m talking about sells for right under $10 a share.
Now $350 a month isn’t going to sustain you. But the point I’m trying to make here is that if you have enough money, your investments can sustain you. You need a good amount of money to take on day trading and hit the road anyway. If it’s your dream to be a nomadic day trader, then you can certainly enjoy doing it while being financially sound, too.
Therefore, if you would rather day trade vs live off the income from your investments, that sounds like a plan, too. Personally, I would probably do a little bit of both. I have a job that I travel with right now, and I also love investing. Where I stand right now, I’m building up a portfolio and am nowhere near what you’re wanting to do.
Maybe you’re not quite yet there either, but you have been considering hitting the road and being a day trader. If you can make it happen, then that sounds like quite an adventure! Day trading as a nomad can also be fun because you can enjoy the simple life. When you feel like being a little luxurious, you can then decide to have an adventure while traveling to a new place.
Maybe you dine out once a month while enjoying simple meals in between. Whatever you do, it certainly sounds like a fun time day trading as an RV nomad. You’re talking about doing something that many other day traders out there would love to do, at least for a time.