Trading Through Winter Weather
“At Least Nine Reported Dead in Brutal Cold as Historic Snow Falls in Once-in-a-Generation Storm in the South”, “Watch Snow on the Beach as Winter Storm Batters the Gulf Coast”, “Snow Covers Bourbon Street in New Orleans”… Wait, what? The Super Bowl is coming to New Orleans. They can’t possibly have snow there! Lol.
Recent headlines outline the calamities facing us this time of year. Winter weather is here and so is a threat to our technology.
Imagine the millions of connections needed to ensure our trades work. It’s almost miraculous. If even a hairline crack occurs in any of it, the entire process comes to an instant halt. And that means that any open trades are susceptible to not being filled. We cannot control the weather, but we can, to some extent, control the hardware closest to us.
- Upon making an option purchase, immediately put it up for sale with a Good Till Canceled (GTC) order. That way should anything happen to your computer, your trade is in the market, ready to execute if/when the criteria is met. You can always change your order but at least you are secured. This is especially true if your computer is down for an extended period. Your computer could crash with a virus, a power outage or you can lose your internet connection, and these always happen at the most inopportune moments.
- Get an uninterrupted power supply (UPS). The cost is minimal, but the value is priceless should your power go out. According to Climate Central, 80% of major power outages are caused by weather events. If you live in an area prone to such interruptions, it’s not if but when you get hit. Be prepared. I use a Cyber Power 1500, but any suitable unit would work. If you already have a UPS, check it to ensure you have adequate battery power left. They hold power for a long time but not forever and you could be plugged into a worthless piece of equipment if your battery reserve is low. In addition to this, I even have a backup generator.
- While on the topic of batteries, ensure that you have fresh batteries for your keyboard and mouse, if you use them, or at least a backup wired keyboard and mouse. Imagine losing a trade because you failed to carry a spare $2 battery!
- A good idea is to load your trading platform’s app onto your cell phone. Learn how to use it before you need it, even if to just close positions.
- As inclement weather approaches, make sure your devices are fully charged.
- I also have a backup computer I can jump to, should my main machine die. It’s a good idea to run it occasionally, just to make sure all your software is up to date, and you recall how it functions. In addition to an older desktop, I also have a laptop I can utilize on short notice.
- Oct. 14 of this year marks the end of Microsoft support for Windows 10. If you are using that operating system your computer will still function, but without software update support and security fixes you will be vulnerable to attacks. It is best to not wait until October as computer stores will be inundated with people at that time. Stay productive and secure by moving to Windows 11 now. While on this subject, you may want to upgrade your hardware as well to accommodate your newer software for improved performance and efficiency.
- As a precaution, you may also want to think twice about executing real trades amidst a major storm, particularly if you live in an area prone to power and internet outages.
These are things we generally take for granted, thinking about them only when our systems crash. A little housekeeping can keep the process running smoothly and avoid any unnecessary losses.
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Create great trades,
Hugh
