“Wow, that’s cool.” I thought as a young expat in Medellin, Colombia.
I had just met a guy who lives off day trading while traveling the world.
“Must be nice,” I thought.
Since then my path has taken me more towards starting businesses and investing in real estate abroad.
But during the market dip of this past week I decided it was time to get in on some online stock trading.
But from Ecuador, or anywhere outside the US and Canada, signing up for the service can be a challenge.
You can’t just create an account online and away you go. These sites usually block the sign up function from third world countries (even with a VPN).
I tested various services, and I found eTrade the most willing to work with me to set up an account from Ecuador.
I could not sign up online through their site, I had to CALL in to sign up. That was the key. I then connected a US bank account, and within one day I was trading online.
The trades go in within seconds and I’ve found the platform VERY easy to use for my average tech skills. For instance, I’ve been doing Facebook for years but Instagram and SnapCHat and these other newer things are still a bit over my head.
As for my personal trading strategy…
I’m not telling you to check this out or what to do, just stating what I’m doing, take it or leave it. I´m no pro, in fact, a beginner. But right now, I’m focusing on Marijuana stocks as every time Marijuana is legalized somewhere these stocks are jumping, and that seems to be the North American trend now.
Plus, I plan to play specific events that hit otherwise good companies that I think they can rebound from, like the Equifax hack a few months ago (stock dipped like 20% in a day, then slowly rebounded over the following weeks).
All in all, I look at this as one way to make a little money on the side from anywhere in the world… so why not?