I have to leave town for a few days and was thinking about bringing a laptop along so that I could possibly place some trades throughout the day. I'm staying in a hotel that has wireless internet throughout. Common sense tells me there might be a security risk when doing this. It isn't crucial that I trade (in fact I could use the break), so if there's a lot of risk in this I won't do it. But is there anything available for download on the web that would help me in this situation? Thanks in advance.
Trading in wireless hotspots
- Thread starter Drew07
- Start date
I agree with Surdo
Low risk, I know several people who have traded from crazy locations like boats on a river, starbucks in London etc...
Low risk, I know several people who have traded from crazy locations like boats on a river, starbucks in London etc...
I did this today. Was bored mid day, so I grabbed the laptop and went to the local coffee shop with all the hot women. Placed a grand total of one trade, but it worked just fine this was actually the first time I've done it as i just bought my laptop.
Anyway, I wouldn't hesitate to trade from the road.
Anyway, I wouldn't hesitate to trade from the road.
I personally also wouldn't worry about it. I would think (im not 100% sure) that connections made to your broker start encrypted from you computer all the way to the broker and it would take something alot more worth while from someone to take weeks or months to crack the encryption that is if they were to bother to packet sniff a wifi hotspot where the would also waste time cracking useless junk like family emails or vacations photos. but mehh i still wouldn't worry about it.
It's like trading without antivirus - absolutely nothing to worry about until you get infected because someones life revolves around messing with others systems to show off their knowledge.
Try and get to know some hackers - they like to hang out together and think hacking "secure" systems is what life is all about. It is all they live for. FatBucks (Starbucks to you if your weight is under control) is a great place for hackers. Full of wealthy posers with new laptops and few think about security.
Before you get on to your brokers encrypted system you type in your password and user details. email ditto. Perhaps visit eBay and use PayPal so they can emply you account. Give then a credit card as well so they can have some credit as well as your deposit funds. Now they can trade your account and make some nice purchases.
Of course it doesn't happen much, just if you are unlucky and happen to be using a hotspot they are scanning. For protection at least use a quality antivirus plus a firewall and turn off file/printer sharing. That will see off most as they will get occupied watching the easy prey.
Some hotspots are actually pretty secure but some are wide open and you're not likely to know which you are on. But with the above 3 measures you should be pretty safe.
Try and get to know some hackers - they like to hang out together and think hacking "secure" systems is what life is all about. It is all they live for. FatBucks (Starbucks to you if your weight is under control) is a great place for hackers. Full of wealthy posers with new laptops and few think about security.
Before you get on to your brokers encrypted system you type in your password and user details. email ditto. Perhaps visit eBay and use PayPal so they can emply you account. Give then a credit card as well so they can have some credit as well as your deposit funds. Now they can trade your account and make some nice purchases.
Of course it doesn't happen much, just if you are unlucky and happen to be using a hotspot they are scanning. For protection at least use a quality antivirus plus a firewall and turn off file/printer sharing. That will see off most as they will get occupied watching the easy prey.
Some hotspots are actually pretty secure but some are wide open and you're not likely to know which you are on. But with the above 3 measures you should be pretty safe.
I don't know about other brokers but I'm fairly confident with IB's TWS encryption + my safekey. I've traded in a remote island in the Philippines, in coffee shops in singapore, in a restaurant in Patpong Thailand, etc. I'm pretty sure I haven't been hacked just yet 
But, I do make sure SSL or any form of encryption is enabled before I log in.
But, I do make sure SSL or any form of encryption is enabled before I log in.
I guess you dont notice when you go to say www.bankofamerica.com www.paypal.com www.gmail.com www.yahoo.com www.tdameritrade.com www.thinkorswim.com www.interactivebrokers.com .... no need for me to go on... well when you go to the sites the address bar turns yellow and at the bottom right there's a lock that says 128bit encryption before you type anything in and before you hit the log in button so you are on a secure server. im not saying any encryption Cant be cracked it just take a good amount of time and effort to do so. but you are very much so on a secure server before you send your info out to the net. when you going to login to your account through your software platform you are connecting to a secure server, first your software pings the server to open a secure pipe to it then once the secure line is connected it sends the login info that all happens in the matter of milliseconds.
Tried that a few years ago for two months to escape the isolation. Traded at Starbucks indoors and outside.
No security problems but rest assured, your lack of focus from the distractions of girls and curious idiots wanting to know what's on your screen will cut into your earnings. Never again.
-Prof.
No security problems but rest assured, your lack of focus from the distractions of girls and curious idiots wanting to know what's on your screen will cut into your earnings. Never again.
-Prof.