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MC - the BEST and EASIEST way to 'hedge' is to find a platform and broker that work in situations like this.
The next step is to have a backup stock/options online account where you can quickly and easily buy/sell the corresponding index ETF or ETF option.
Now, the time that it takes to log into your online account, find what you need and place the trade will take longer than just calling your futures broker and telling them to flatten your position if you have a broker that answers the phone quickly.
So my suggestion is to not waste time having a 'oh sh*t' plan and find a broker(s) that are reliable and accessible. |
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Well if you're in a YM position and the eCBOT freezes your can call your broker all day, they can't do anything either correct? Tradestation will answer the phone very fast, but if the exchange is down how could they flatten me?
And if you have limited funds and can't open a few spare offshore accounts there has to be a backup or "oh $hit" plan. To not have any hedging plan when trading leveraged is a blowout waiting to happen. And to hedge on an ETF isn't that bad an idea IF you have enough in your spare account to throw at it to effectively hedge the leveraged position. I don't have enough for a 2nd account at this point so I'll stick to my disaster plan till I can afford to get a backup account (I do intend to do this ASAP).