I have faced such issues. When I was in some key positions (intraday), the internet failed to work and I was stuck up for few minutes. Later I realized and opened my iphone to square off my position, by that time it was too late and I incurred some 8k loss.
I want to know, what kind of backup you people use in order to avoid such situations. (like tablets, 2g conenction, 3g connection, office net, data card etc)
in case of electricity cut off- put your wifi on inverter so that it still works but it will take 1-2 min to reconnect…because wifi restarts after it goes on inverter…
in case wifi is not working - imidiately take out your cell phone and make a hot spot through 3g … hot spot works as a wifi and make sure there is enough battery in your cell phone or kep it for charging alongside your laptop… this will also take 1-2 min to reconnect…
call and trade - open either nse now free app or zerodha mobile app (only for android and blackberry not for iphone … even i use iphone so i use nse now to see live chart the very moment i’m in a trade and internet stops…)
you know why i do any of these three… a funny moment happened long time back…
on the day of the election results on 16th may i guess the market opened at 9.15 and my inverter got kharaab within 3-5 min i.e. around 9.20…for 5 min i saw stocks breaking out and as i was about to enter my first trade inverter karaab(means the mains connection is attached to inverter so no socket working and my bloody laptop had low battery so it got shut down in 2 min) … and then came electrician after 2-3 hours and it took him some 2 hours to get it fixed… so no trading on the day when stocks rallied …during those days i didnt know about nse now application … also as i use an iphone so could not use zerodha mobile app either…so like its said IF IT’S NOT YOUR DAY THEN IT’S NOT… so i laughed after that when i saw the stocks in the afternoon …and later just kept on saying WHY ME GOD . WHY DID YOU HAVE TO DO IT WITH ME … I COULD HAVE MADE SO MUCH MONEY TODAY… so now i think about that day i just smile …but i admit that i was dumb then because i did not do call n trade …
you just lost 8 k so think that it was not your day … hope the above mentioned 2-3 points help you…
As we all treat trading as a business, we need to have backups running like what businesses do.
Let me give an example of my setup in the house:
1. Electricity related
a) CPU + 3 Monitors + Speakers backed up by Inverter + extra battery. It gives me coverage for 3 hours.
b) Fully charged laptop (switched on around 9 am) with 3g dongle active - backed up by separate UPS - total coverage 7 hours..good enough to cover equity markets timeline.
c) Modem + router backed up by separate UPS (We can have one UPS for laptop+router/modem as well..depends on the capacity of the inverter and batteries)
2. Internet related
a) Main internet connection (Airtel)
b) 3g dongle (Vodafone)
c) Universal data card (using Tata docomo sim)
Ofcourse, having the broker's call and trade number handy. When it comes to running a business, we can't be more careful.
But dude i shorted on that and lost 8.5k in a seconds thinking of -ve election result…
so now i think of that day and feel i was stupid person for not going with trend…
dude same thing again … on that day the first 2-3 bars were negative but a huge gap up … most gap ups or downs follow in the direction of the gap so wait for more price action to reveal i.e. don;t jump early into trades … read this post
I lose a lot of money in the first hour that i am not able to recover that during the whole day.