Location independence is a huge upside to being a trader, particularly a trend follower. An excerpt from The Little Book of Trading:
Years ago I interviewed for a trading job at Saloman Brothers in New York City. That was in 1994 and the firm was still very powerful. I still can recall seeing their massive football field–size trading floor at the top of World Trade Center Seven, which was lost on 9/11. At the time, long before I ever knew about trend following, that seemed to be the only way you could get rich trading.
Kevin Bruce is living proof that there is no need to be in New York, London, or Chicago—flaunting a sharp business suit and trading in a sky rise. Bruce is a small-town guy from Georgia with no ancestral connection to Wall Street, who has not only made it on Wall Street but conquered it. Heed his path.
Bruce spends his time far away tucked in quiet spots in Richmond, Virginia. He works out six times a week at his local YMCA, and still drives his 1996 Ford pickup. With a net worth of nearly $100 million, he prefers to live life just as he always did before making that fortune. He is low profile. Most people have no idea of his wealth. He says, “I guess that means I’ve done a pretty good job of just being me.”
Now some feedback from a listener with a different motivation for location independence:
Just a quick email to say that I enjoy listening to your podcast. I have read lots of interesting books that I would probably never have come across had I not heard the author interviewed on your podcast. I should have already gone on iTunes and left you a review already as you request from your listeners. I will do that over this weekend.
It sometimes sounds like you are wondering on there about whether the audience will embrace it when you interview guests not directly related to trend following trading methods. But I think it is a positive thing when you have these types of guests. It mixes up the content and prevents all the interviews from being too similar. I particularly like the ones who talk about trading psychology, as opposed to methodology.
On another note, can you tell me what it is like being a single man living in Saigon as far as opportunities with the ladies goes? I am an Australian in my my mid 30’s, I trade for a living and have been living in Prague for 7 years because of the cheap cost of living, ease of dodging the tax man here and good looking girls. But I am thinking of basing myself in Asia next year instead. New horizons, more fun, closer to family in Australia etc. I have been to most Asian countries in my travels but not Vietnam. Do you recommend it for a single man?
I will answer this email on a future podcast!