Smart Phones and Trading

I have the typical cell phone that can send and receive text messages, nothing fancy. I have my trading alerts sent to it in order to tell me that a trade may be at a profit target or may need to be closed. This is a part of the service provided with the trading room on trades that we have open overnight if any need attention.

I thought I was doing well as I am normally near email most times, or within easy reach of WiFi at least. I did investigate getting an i-phone but I already just bought an i-pod touch a few months ago so I did not really want to spend the $250 again.

Friday changed my mind as I had a position that needed to be closed. I received the text message. I wandered over to Starbucks to use their WiFi as I can trade the web platform on my i-pod. I have used this service at this particular Starbucks in the past but on Friday it would not connect. No big deal. I held the position and I still have it now. The trouble is that over the weekend I lost more on it than the phone was worth if I even included 3 months of data as well. Today I am at a point where it is down an i-phone and 7 months of data. Now, it is a July option so I might come out ahead but that remains to be seen.

So, once I get this week (expiration week) under my belt and see how the profits for this month stack up I will be purchasing a new phone. I happen to be camping in the first week of July and no phone will work where I am going anyway but I will feel better knowing that it is one less thing to have to look after later.

Oh, there is no trading in that week either, room is closed.

Jeff.