Many traders on t2w are day trading and futures trading as well on ib . My general question is - do you have two internet connections? my broadband connection with bt fails from time to time and what would you do if you have an open trade ?. Any info as what can be done will be much appreciated. I am in the processof opening an account with IB but I am much concerned as to what I will do when I will have a failed connection. Please help with your comments. Thanks
Suggest you change your IP. http://www.btopenwoe.org.uk/
I only have ISDN but http://www.eclipse.net.uk/
have never cut me off other than over 10 hours online. Not sure what their current terms are.
I only have ISDN but http://www.eclipse.net.uk/
have never cut me off other than over 10 hours online. Not sure what their current terms are.
Trader333
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I have broadband and also a Freeserve account which would only cost me my telephone costs at around 3p per minute if I were to use it. So if I were in a trade and broadband went down I could immediately re-connect to the internet via dial up on Freeserve.
However, you should also bear in mind that a far worse case would be if the Broker you use has technical problems because if they do then you would want to know that you can close your trade. It has been said that IB do not offer very good telephone support and if they were to have a problem then it is likely that their telephone lines would be jammed. Another alternative is to fund more than one account which could even be a SB account. If your main broker were to have a fault and you couldnt close the trade, you could take the opposite position with a SB company and therefore know that you are limiting your risk.
Cheers
Paul
However, you should also bear in mind that a far worse case would be if the Broker you use has technical problems because if they do then you would want to know that you can close your trade. It has been said that IB do not offer very good telephone support and if they were to have a problem then it is likely that their telephone lines would be jammed. Another alternative is to fund more than one account which could even be a SB account. If your main broker were to have a fault and you couldnt close the trade, you could take the opposite position with a SB company and therefore know that you are limiting your risk.
Cheers
Paul
GreyingSurfer
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Not a lot to add. I:
- Hardly ever lose my connection (homechoice 1meg), last time was over a year ago that I'm aware of.
- Have my brokers numbers on bits of paper by my desk and phone
- Also in the address book of my mobile, in case the phones have gone
- Have an old modem attached to a spare computer as a backup
- Always place a stop that is held at the exchange as soon as I enter a trade, so I have some protection if IB goes down. It's worth reading the section in the IB help files on the types of orders that are held native or synthesised by IB, it varies from exchange to exchange. I'll always use a native order where possible, particularly for stops, it gives added protection.
- Hardly ever lose my connection (homechoice 1meg), last time was over a year ago that I'm aware of.
- Have my brokers numbers on bits of paper by my desk and phone
- Also in the address book of my mobile, in case the phones have gone
- Have an old modem attached to a spare computer as a backup
- Always place a stop that is held at the exchange as soon as I enter a trade, so I have some protection if IB goes down. It's worth reading the section in the IB help files on the types of orders that are held native or synthesised by IB, it varies from exchange to exchange. I'll always use a native order where possible, particularly for stops, it gives added protection.
