Risk management with Internet Service Providers
Just learned a valuable lesson. Long story short, I’m stuck with Spectrum in my area. We have several minutes of downtime randomly at least once daily but it’s not uncommon for the service to be interrupted for several hours at a time, typically overnight. The uptime here is horrible.
I just made the mistake of opening a position in Tradovate using “grouped” accounts (copy trading), and by doing this you’re not able to execute your order with stops and takes in place (“ATMs”).
Surprise! Internet went down and by the time I got logged into Tradovate on my phone to flatten the positions or set stops, I had been stopped out due to DLLs on each account. Obviously not the end of the world but I’m fuckin pissed.
So yeah. Learn from my experience. Have a backup plan, especially when you can’t use “automatic” order stops!! Either go for a cloud based solution for copy trading or at least be ready with another Internet connection already authenticated to manage your position.
Also, how is Starlink? Anyone use them? I know latency might be an issue for scalping but I’m already paying 3-figures for shitty unreliable internet so it’s worth investigating.