Your charts are loaded up. You have identified your levels/zones. Now, you’re just waiting for your forex pair to reach your zone, which will allow you to get the perfect entry. Suddenly, you realize…..you’ve lost your Internet connection.
Has this ever happened to you? Do you know what you would do if you ever did lose your Internet connection while you were day trading? I hate to be the bearer of bad news, but if you’ve never lost your Internet connection while day trading, I can tell you from experience, that day is coming.
In today’s blog post, I’m going to share with you a couple of tips to help you better prepare for the day you are day trading and lose your Internet connection.
Those of you that follow me know that I’ve recently started hosting free live streams a couple of times a week. It was during this week’s live stream when I first noticed my Internet starting to buffer A LOT. My first thought was that I had a software issue. However, after performing a speed test, I realized I had just enough Internet speed to say that I have the Internet. To make matters worse, my cable provider was telling me it would be two days before a service technician was available.
My backup plan now was to slow things down and focus more on my swing trades until my Internet issues could be corrected. Swing trades move at a slower pace ( kind of like my Internet) vs. the high-speed excitement of day trading.
So do you know what you would do if you ever lost your Internet connection while you were day trading? Do you have a backup plan?
Here are a couple of tips for you to consider, to be better prepared, for when that day comes.
Tip #1 – Always keep your broker’s phone number in a place where it is easily accessible. An even better idea is to keep it in more than one place.
Along with your broker’s phone number, you will also need your account information.
Tip #2 – Always have a backup Internet option.
A secondary Internet option for you may include paying for a second ISP or “Internet service provider” from another company.
If you would rather not pay for a second ISP, another option is to use your smartphone as a hotspot, which will allow you to manage and close your trades.
I hope you never have to experience losing your Internet connection while you are day trading. However, should you find yourself in the same seat I was in, following these simple tips should help make the experience a little less hectic. EDDC
In closing, I would like to once again remind everyone about the FREE live streams, hosted by myself, that I mentioned earlier. These live streams are an excellent opportunity for traders of all skill levels to ask questions and interact with me live. Again, this experience is entirely FREE to you. So if you haven’t already signed up, why are you waiting? Fill out the form above to be notified before any of my future live streams.