Safety Requirements For Electronic Trading

Although it is possible to deal in the FOREX through a dial-up connection, it is recommended that you have a fast digital subscriber line (DSL) or cable setup, especially if the platform you will be using requires continuous reception and update of data feed. If you are a long-term trader who checks the charts only occasionally and who operates mostly with pending limit or stop orders, this will not be a high priority, but a scalper, for example, will need a stable Internet flow and a fairly huge bandwidth, which will allow a fast connection to and from the broker's server. The computer itself doesn't have to possess the ultimate high-tech gadgets, but it should be in optimal condition and properly maintained periodically.

A second alternative connection should be considered in case the main one fails. It is good practice to have more than one avenue with which to access your open positions in the eventuality of an Internet failure or even a power outage, especially if your broker doesn't offer phone access. Mobile access is a good option, although not every company offers that possibility yet. You could combine your DSL connection with a dial-up, wireless, cable, or mobile backup. Having a power generator or uninterruptible power supplies (UPS) is a must if you live in an area where there are frequent electricity outages.

Finally, all the usual safety requirements concerning protection of your data, such as virus protection, anti-key loggers, firewalls, etc., should be set up before installing the software and logging on to your real-money account.

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