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Doomsday senerio


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Doomsday senerio

  #1 (permalink)
 techa 
Wilmington, NC
 
Experience: Beginner
Platform: Infinity Futures, TOS
Trading: ES, MES
Posts: 75 since Apr 2019
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So legit question here. In light of the NYC power outage the other day... what happens if we have positions open and something like that happens? That is an incredibly frightening thought for me as a smaller new trader (especially when I go to full contracts of ES). Also, the thought of in the future doing this full-time with the possibility of a prolonged outage causes me to shutter. Not trying to be a pessimist but it is a thought I have far too often.

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  #3 (permalink)
 
rleplae's Avatar
 rleplae 
Gits (Hooglede) Belgium
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take your landline and call the broker
make sure you have the number somewhere printed
you won't be able to find it in your computer

good call to prepare yourself

broker can close you out of your positions

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  #4 (permalink)
 addchild 
Bay Area California
 
Experience: None
Platform: TT T4
Broker: Phillip Capital
Trading: Futures
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techa View Post
So legit question here. In light of the NYC power outage the other day... what happens if we have positions open and something like that happens? That is an incredibly frightening thought for me as a smaller new trader (especially when I go to full contracts of ES). Also, the thought of in the future doing this full-time with the possibility of a prolonged outage causes me to shutter. Not trying to be a pessimist but it is a thought I have far too often.



You can use a UPS (uninterruptible power supply) to keep a modem/router/desktop/monitor powered for a decent amount of time (20-60 minutes).

You could also use a platform that includes a mobile app.

And you can always call the trade desk at your broker and they can execute on your behalf.


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  #5 (permalink)
 
rleplae's Avatar
 rleplae 
Gits (Hooglede) Belgium
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Experience: Master
Platform: NinjaTrader, Proprietary,
Broker: Ninjabrokerage/IQfeed + Synthetic datafeed
Trading: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
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addchild View Post
You can use a UPS (uninterruptible power supply) to keep a modem/router/desktop/monitor powered for a decent amount of time (20-60 minutes).

You could also use a platform that includes a mobile app.

And you can always call the trade desk at your broker and they can execute on your behalf.


Sent using the NexusFi mobile app

if you are on an internet service provider with active network components in the street
(like fiber optic or cable network) a grid problem will get our connectivity down
only old-fashioned DSL/VDSL on copper lines will work...

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  #6 (permalink)
 Grantx 
Reading UK
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techa View Post
So legit question here. In light of the NYC power outage the other day... what happens if we have positions open and something like that happens? That is an incredibly frightening thought for me as a smaller new trader (especially when I go to full contracts of ES). Also, the thought of in the future doing this full-time with the possibility of a prolonged outage causes me to shutter. Not trying to be a pessimist but it is a thought I have far too often.

Higher timeframe trading.
Your reaction to trading a full ES contract is a warning sign you should listen to. Are you able to lose the next 5 trades in a row and still have the balls (and funds) to take a 6th trade?

If no then why is the full ES contract even in your thoughts?
If yes then why is your mind introducing negative hypothetical scenarios and producing unecessary fear for you to deal with?

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  #7 (permalink)
 techa 
Wilmington, NC
 
Experience: Beginner
Platform: Infinity Futures, TOS
Trading: ES, MES
Posts: 75 since Apr 2019
Thanks Given: 75
Thanks Received: 92


Grantx View Post
Higher timeframe trading.
Your reaction to trading a full ES contract is a warning sign you should listen to. Are you able to lose the next 5 trades in a row and still have the balls (and funds) to take a 6th trade?

If no then why is the full ES contract even in your thoughts?
If yes then why is your mind introducing negative hypothetical scenarios and producing unecessary fear for you to deal with?

I don't plan on full ES for quite some time - but even 1 or 2 contracts of MES left unwatched for hours in a power loss could be quite painful.

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  #8 (permalink)
 techa 
Wilmington, NC
 
Experience: Beginner
Platform: Infinity Futures, TOS
Trading: ES, MES
Posts: 75 since Apr 2019
Thanks Given: 75
Thanks Received: 92


rleplae View Post
if you are on an internet service provider with active network components in the street
(like fiber optic or cable network) a grid problem will get our connectivity down
only old-fashioned DSL/VDSL on copper lines will work...

That's what I was wondering. If power is out, wouldn't cell towers be down too?

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  #9 (permalink)
 addchild 
Bay Area California
 
Experience: None
Platform: TT T4
Broker: Phillip Capital
Trading: Futures
Posts: 809 since Nov 2011
Thanks Given: 926
Thanks Received: 898


rleplae View Post
if you are on an internet service provider with active network components in the street
(like fiber optic or cable network) a grid problem will get our connectivity down
only old-fashioned DSL/VDSL on copper lines will work...

I've definitely run through a few outages and internet has at least always outlasted my UPS. I suppose my ISP could be running their own battery backups.

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  #10 (permalink)
 
rleplae's Avatar
 rleplae 
Gits (Hooglede) Belgium
Legendary Market Wizard
 
Experience: Master
Platform: NinjaTrader, Proprietary,
Broker: Ninjabrokerage/IQfeed + Synthetic datafeed
Trading: 6A, 6B, 6C, 6E, 6J, 6S, ES, NQ, YM, AEX, CL, NG, ZB, ZN, ZC, ZS, GC
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techa View Post
That's what I was wondering. If power is out, wouldn't cell towers be down too?

they typically have a battery/ups for some limited time

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Last Updated on July 26, 2019


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