First, let me thank the Baby Pips team for a most excellent website! I'm currently working the BabyPips school and really enjoying it.
I've opened up a demo account at Oanda and am "playing" with it, applying what I am learing at BP school.
OK, my question is this. I have a Cox highspeed internet connection here. I can connect my computer directly to the modem, but I actually prefer using my 54mps wireless laptop connection. Is this going to be adequate to trade, or should I really be directly connected? So far, while using FXGame at Oanda, all appears fine with my laptop, but I though I should pick the brains of the gang here to get the real scoop.
I'm sure I'll have more questions, but right now, I'm just climbing the learning curve.
Again, kudos to y'all, what a great place and a great group of folks!
I'm using wireless never had any problems, the only thing i can say is make sure it is a reliable router or access point that you are using. Last thing you need it to have to wait for that to reboot before you can see which way your last trade went.
On top of what everyone else said I would be sure you do have a router with mulitple ports so you can plug directly into it if necessary. Some Verizon routers/modems only have 1 port and I have seen problems with them. I have also seen problems with wireless as far as interference. If you have any 2.4 ghz wireless phones that make sure you don't randomly lose your connection when a call comes in or when you call out. It is strange but sometimes people have no problems at all but other times, like for me, it will disconnect me when a call comes in. Linksys wireless routers have 11 different channels that have different frequencies which can solve the problems but not always. The main thing is make sure that you can always drop the router and plug direclty into your cable or DSL connection if necessary in case you do have problems.
I never worry about security because I enable MAC filtering and I disable SSID broadcasting so noone even knows I have a wireless connection and if they do they won't know the SSID name nor have the MAC address needed to bypass my routers MAC filter so only my laptop can access the wireless connection and there is no speed loss due to encrypyion of WPA or WEP (Many people will debate this but to each his own). I am not worried about hackers cloning my MAC address because I don't think that anyone would go through the trouble but you never know. As long as you use stops and take profit orders at the time you make your trade than it shouldn't matter anyway if you lose your interenet connection. Of course if you DEMO trade for three months as the school recommends and you have no problems than you should be fine too!! If you are that worried about it than you can always have a backup broadband connection which is costly and I will do someday when the big bucks come in and this replaces my job . I think you can write it off then but I will worry about it when the time comes.
I have been supporting thousands of users with their home and work PC problems for the past 15+ years at my regular JOB so I am only posting this because of all the problems that I have seen with wireless connections. Good luck to you and to all of us in 2007!!
Sorry about this long winded post but I just got back from Happy Hour and I am talkative, especially about FX because of all the potential I see in it!
Thanks to everyone's response, it's greatly appreciated! I do have my wireless secured. I'm using a Linksys wireless router which works great. I have had it for years and have virtually no problems with it. It's secured.
No worries, I'm DEFINITELY going to demo trade for at least 2 or 3 months. I've made that commitment to myself as I want to have a reasonable chance of being successful and I realize this is important.
Yes, I will eventually consider an additional broadband connection and probably something like xtick, down the road, once I'm actually doing this successfully and it becomes my main source of income, but for now, I'm starting small and easy.