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If you enjoy investing online, you may have been frustrated with the recent outages of some major brokers. It takes hard work and dedication to be a successful trader, even if you just enjoy it as a hobby. And few things are as frustrating as planning a trade and then having it canceled—or just not being able to execute it at all—because a broker has an issue.

Fred Frost, a Dubai-based trader and founder of Fred Trading, a free training program for aspiring traders, shares your frustration. He offers a unique perspective when it comes to risk management.

"Brokers often limit trading for the consumer, which is why it's pretty dangerous to trade on all these brokers where you buy and hold stocks or crypto long term," Frost says.

Because there's always a chance your online broker of choice will suffer an outage or otherwise limit your trading abilities, having a contingency plan is critically important. Sometimes, that contingency plan involves entirely different methods of trading.

"At Fred Trading, we trade contracts for differences or CFDs," Frost says. "This is basically just a contract of whether we think a certain stock—gold, metal, currency, anything—is going to go up or down. We don't own anything physically, and this means that the broker cannot withhold any of our money or possibilities to open certain trades or withdraw any money. It's just one of the reasons why day trading is so much better than investing long-term, in my opinion."

Of course, Frost doesn't think you should just jump into day trading on a whim—you need to understand the process as a whole as well as follow specific strategies for mitigating risk.

"We teach everybody how to do proper risk management," he says. "You get a whole seven-and-a-half-hour video course plus a 40-minute speed course where you learn exactly how to risk properly. We recommend never risking more than 3% to 3.5% of your account per trade. That way, it can never, ever, ever go wrong. Even when we hit two, three, four, five-stop losses in a row, we can win that money back immediately."

Risk-management courses from Fred Trading are a great resource for new and experienced traders looking to sharpen their skills. However, the platform is a bit of a departure from most similar sites. Frost offers in-depth guidance for those who want to learn to trade, but followers who don't have the time or inclination to do so can "copy trade"—Frost reveals the trades he's making, and followers can simply replicate them if they wish.

Ultimately, whether it comes from market volatility or the looming possibility of your broker suspending its 24-hour trading, risk is something you can't entirely avoid. But if you take a page out of Fred Frost's book, you'll be well on your way to a more diversified portfolio, a better understanding of risk management, and maybe even increased profits.