Is it possible to run FM11 from an external harddrive?

I have a 1TB hard drive and i'd like to put FM11 on it to keep my laptop memory decent.

Is this possible and if so how do i do it?

Theoretically it will work, but I wouldn't recommend it. Accessing external hard-drives is generally slower than internal drives, and so whenever the game needs to load data from the game files it will take longer than it would normally. I don't know how often the game needs its installed files, but I would guess that it will most noticeable when starting a new game and when loading the 3D match engine.

Still, there's no harm in giving it a try.