Always Have a Backup with FOREX Trading
- Open live accounts with two different brokers. Use one as your primary broker, the other as a secondary broker. A good mix is an ECN for the former and a market maker for the latter. The market maker will have a more expansive pair palette for when you want to dabble in minor or exotic currency pairs.
- Have a backup Internet connection.
- Have a backup computer with your platform preloaded. With MetaTrader, most functions such as accounting and order entry reside on the broker's server. You can log in to the same account from different computers -- but be careful not to be logged in to the same account from both. A laptop or a netbook is fine. If you use a tablet computer, be sure its operating system is compatible with the trading platform.
- Load the platform onto a flash drive.
- Trade using a VPS such as www.gallantvps.com or a cloud-based service such as Red Paladin -- www.redpaladin.com.
By Michael Duane Archer