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A friend and I are newbies, he was trading Friday and his computer froze. He franticly called the broker, by the time they got him out he was down $2800. They said there is nothing they can do. Does he have any outs. |
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Nope, that's the risk we all take. Don't forget the added $20 most brokers charge to phone in an order.
Who is his broker? Most brokers keep the order serverside and if your connection or platform goes down they still execute assuming a hard stop was in place (IMO serverside with at least a worst case scenario hard stop in place is a great idea). Now if the broker has an outage or worse yet the exchange freezes, well then you MUST be prepared to hedge on another vehicle or a backup broker to offset any move against you. This should be part of any sound trading plan, how to hedge in an outage.