As a trader, a backup battery is probably one of the last things on your mind when your login to trade, whether you're an inexperienced novice or an experienced professional. However, I can't stress enough how vital this simple and overpriced piece of equipment is.
"Finding ways to improve the results of our trading strategy and/or system should be our main priority as traders."
"What if" scenarios should cross your mind (if only for a second) during major storm seasons. For those up north, heavy snow and ice can greatly affect power in your area. Out west, earthquakes are a threat to power. If you live in the Midwest, tornadoes and major lightening storms have their effects. I won't get into "idiot" scenarios, but we're all at risk for those.
Finding ways to improve the results of our trading strategy and/or system should be our main priority as traders. There's more to that then just entry and exit points.
Plan for the Worst, Hope for the Best
Try to invision a scenario where you just opened a long or short position with $10,000 for a quick scalp trade. You expect to hold for a few seconds to a few minutes and sell/cover. You paid $10.00/share and are watching every tick on the chart as the stock price moves. And then... the lights go out and all electronics shut off.
This happened to me a few years back (before brokers had mobile apps), before I even considered backup power. I froze for a few minutes. I didn't really know how to respond. It wasn't until I was sitting there in the dark, that the idea of a backup battery even hit me.
I remember checking to see if I had cell phone service. YES! Now I just need the number to my broker. Only... I had become so used to using my computer, that most of my contacts were on it. I couldn't believe I didn't have my brokers number saved in my phone. Mobile internet! Got the number, called... put on hold. Worst feeling in the world. Helpless. I was long just above $10 when the power died. The power came back on just 15 min later (still on hold), and it was down in the 7s. I had lost $3,000 in 15 minutes, and it was completely out of my control. I went on a personal mission to make sure it never happened again.
I started searching around for the best deal on reliable backup batteries. I've bought a few things customized from EZ Trading Computers over the years that I'm happy with, and found that they sold backups with guarantees that operate well with an EZ Trading PC. I bought the Power Pro 2000VA backup battery, which works very well with my system. I was going to go with the cheaper model they sell, but realized with 2 monitors, I'd only get from 7-13 minutes of power. The 2000VA offers 20-35 minutes of power, and recharges really quick when power comes back on. The power has gone out several times since then (only for a few minutes each time), and I've been steady trading all the way through any outage.
As turns out, the power went out again on Monday, (August 24, 2015) for about 15 minutes... right in the middle of a hectic volatile market, with me in and out of trades all day. This time, I cracked a huge smile. I knew I was good. My backup held power during the entire outage, and recharged in no time once power was restored.
If it hasn't happened to you yet, consider yourself lucky. Learn from my $3,000 mistake. Regardless of what backup battery you get, get one. The first time power drops, it will more than pay for itself.
Labels: Basics of Trading
I started searching around for the best deal on reliable backup batteries. I've bought a few things customized from EZ Trading Computers over the years that I'm happy with, and found that they sold backups with guarantees that operate well with an EZ Trading PC. I bought the Power Pro 2000VA backup battery, which works very well with my system. I was going to go with the cheaper model they sell, but realized with 2 monitors, I'd only get from 7-13 minutes of power. The 2000VA offers 20-35 minutes of power, and recharges really quick when power comes back on. The power has gone out several times since then (only for a few minutes each time), and I've been steady trading all the way through any outage.