Backup Internet Access
When I managed the RIA I used to work at, it was an SEC mandate that we had backup internet access. We supplemented our T1 line with a cable modem in case the internet went down. While this rule is mandatory for registered investment advisers, I find it very applicable to a personal trader. Nothing is worse than having an open positon and not being able to monitor it for a possible close.
I have a 10 meg cable connection at home. While it’s up 99% of the time, it will eventually go down for various reasons. This happened last week while I had a position open. Luckily that position continued to act the way I wanted but I was not going to risk something like that again.
I got one of these:
I picked up this aircard on eBay.
I picked up a USB Connect 881 aircard on eBay for $100. They normally are $49.99 with a 2-year contract from AT&T. Bad news is that the monthly contract is $60 a month. That is at least $1440 after your contract is up! However, I went to AT&T and got a pay-as-you go SIM. The charge for activating the SIM card was $25, but your other alternative is buying a cheap go phone that comes with a SIM card already (the Go Phone might even be free after rebate). Since I already had an AT&T compatible phone (I had an unlocked Blackjack that I had been using on T-Mobile), I popped my new SIM in there an dialed 611. You may also call 1-800-901-9878 from any other phone to do this same step.
Follow the voice prompts and go to “Buy Features.” Navigate to “Media Net” and pick “Unlimited.” Make sure you “Buy it.” Once you do that, pop the SIM into your aircard. Sierra Wireless is the maker of the aircard. I downloaded a program from their website called 3G Watcher which is responsible for managing the card. Make sure you add a new connection profile and use “wap.cingular” as the APN and keep the rest of the settings the same. You should now be able to connect to the internet!
3G Watcher manages your aircard.
Speed test results of AT&T 3G service:
Not bad for a cellular connection.
With this method, you will have mobile broadband speed for $20 a month and no contract. Your SIM card does not deactivate immediately if you do not add Media Net every month. You must refill within 3 months since the last refill or your SIM card will need reactivation. $20 a month has been nothing in comparison to the benefits this provides. I was actually able to trade from a moving car on a one hour trip to Cincinnati. Tomorrow I leave for Charleston, SC and I will definitely be bringing my aircard with me on the 9 hour drive.
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