I can remember using a slow dial-up connection when I first started trading the forex markets many years ago, and this proved to be very expensive on occasions.
The trouble is that the forex markets can move really fast, particularly at the start of each trading session and when economic data announcements are released at certain times of the day.
As a result of this, you really need to be at your screen ready to bank a profit if it is there for the taking, or take a small loss on a position before it moves further against you.
You really don’t want to be using a slow dial-up connection, like I was at the time, because this can prevent you from entering and exiting your trades when you really need to.
It is the same when you go on holiday to a less developed country. Here you will nearly always find that the internet connection is a lot slower than you are used to in your home country.
Plus in some cases you may well find that the place you are staying at is prone to power cuts, which can be even more catastrophic because you are powerless to close any of your open positions and have no idea what is happening.
You also need to be aware that although you may go to a country where the internet connection appears to be fast and reliable, there may still be occasions when it suddenly goes down.
Therefore it is always a good idea to have back-up plans in place, just in case your internet connection is slow and unreliable, or suddenly cuts out for whatever reason.
The best solution is to pay for an internet data package on your phone, so that at least you have some way of monitoring your positions, and can easily close your positions if you really need to.
Trust me, this will save you a lot of money in the long run because no internet connection is 100% reliable. Even the very best fiber broadband services can go down on occasions, which can potentially destroy your trading capital if you are not careful.
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