I’ve always wondered if it was possible to day trade from Bali.
Bali is stunning, particularly outside the tourist traps like Kuta. The people are beautiful souls, peaceful, smiling – and talented too. One of the few places left on earth where there are traditional skills like woodworking, tailoring, stone carving, metal work.
The weather is perfect, waves for surfing, good food – strawberries that taste like strawberries, not water, remember those? And good value for money. Not as cheap as it was 20 years ago, but still very liveable.
But can you day trade from Bali?
Unfortunately, despite Herculean efforts on our part (OK, my wife’s part, as she’s travel czar) to get the fastest Internet connection possible, all we can manage is 0.5 to 1 Mbps. And it drops out from time-to-time too.
That’s a far cry from the 4 Mbps (and stable) that I think should be the minimum hurdle for a day trading location. And well off the 70+ Mbps that we’re getting in Sydney now.
So we’re only here for a week, before heading on to France. And it’s a little bit of an experiment, just to see if it is possible to live and trade in a near-Paradise. But unfortunately, no.
“Barry, My wife is from Solo, Indonesia, and we go there every year. I remember what you said about internet connections, and would have to fully agree about the frustrating online experience. I do trade there, but actually keep TradeStation running in Houston, and use LogMeIn to connect on the somewhat slow Indonesian internet.
In my case have always used an EDVO USB device from SmartFren. We’re going to Indonesia in January, and I plan to buy one of the new 4G (rev b) portable hotspots. They are claiming 14.7Mbs, but I’ll believe it when I see it! My Indonesian friend in Jakarta said they actually work pretty good.” Rik D.
“Just wanted to let you know in regards to trading from Bali: I was there last year December and they now have 4G dongles on every street corner and fiber in some villas … seems you can trade from there and get 4 Mb/s ;-)” Jan W.
The markets …
I’d recorded a 13 minute video for uploading but the upload speed is much worse than the download speed. I’m sitting here after 15 minutes and only 3% of the video has been sent. So that’s probably not going to happen. If it does, I’ll update the post.
We’ve been winding up for the last 10+ days for a big trend move. I think it’ll be to the upside because Silver and Gold have shown us the way – money printing will continue ad infinitum. And the risk on charts are breaking up – Copper is the latest one to poke it’s head above resistance – and we’ve not seen Professional bars on the highs yet.
But the range is 1395 support and 1408 resistance. Overnight we’ve started to break up, probably in anticipation of Draghi’s announcement Thursday. We’ll see. The 4500 tick chart has the Professional bars picking up the Lows whenever we dipped down into 1400. So that’s why I’m anticipating an upside break.
But unfortunately I won’t be trading it. 🙁