Traders Laboratory - View Single Post - Computer froze, lost $2800
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Old 12-16-2007, 02:49 PM
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Re: Computer froze, lost $2800

There is also an EASY way to prevent this on YOUR end -

When you get filled on an order, place a protective stop immediately!! Most platforms you can set it up so that the stop automatically fires when your trade is filled. This is critical.

Next, you need to find a broker where your stop is held at the exchange and/or your broker's server side. In other words, if your connection goes out, your protective stop is maintained.

In summary, you and your friend need to:

1) Place protective stop IMMEDIATELY after entering a trade, preferably have your platform set up so that the stop fires as soon as you are filled so you don't have to do anything.

2) Find a broker that holds your stops @ the exchange and/or server side. Stops that are held ONLY on YOUR computer are subject too many, many risks as this thread has illustrated.

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