Manta, Ecuador
Site Administrator Developer Swing Trader
Experience: Advanced
Platform: Custom solution
Broker: IBKR
Trading: Stocks & Futures
Frequency: Every few days
Duration: Weeks
Posts: 50,397 since Jun 2009
Thanks Given: 33,173
Thanks Received: 101,537
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Only you can answer this question.
If you are trading 100 lots and every tick is $1,000 or more, then the 5 minutes it may take you to call your broker by phone, get connected, and 'solve' the problem (close an order, etc) may be extremely costly. Not too many months ago there was a problem with a major broker, I forget which now but I think it was one of the big Zen Fire ones... and the actual brokerage house couldn't cancel orders because of a internet line cut problem between them and the actual ZF servers... something like that. Anyway, people were stuck in positions for like 30 minutes or an hour.
So perhaps in this case you need a backup broker where you can hedge the trade.
If you are trading 3 lots, then all the expense of backups and redundancy probably cost more than the time it would take to get someone on the phone to 'fix it'.
Personally, I have a redundant internet connection (DSL+Cable with a load balancing/auto-failover router) simply because my internet provider here sucks ass, so it is a requirement for me to operate successfully. Other than that, I have my broker on speed dial.
Mike
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