Everyone’s had one of those days, the days when absolutely everything goes wrong.  Whether the responsible factor is a poor night’s sleep, a constantly ringing phone, orders being inadequately filled, or any number of other things that can make an average day into a horrible one, there are steps that a trader can take to ensure financial survival even in the worst of circumstances.               

Many traders in this predicament are quick to place blame on anything but themselves, but in the end there is no one else to blame.  Failing to properly prepare for day to day fluctuations of Murphy’s Law will serve no end but to bring said law to fruition.               

For most things in life, including the market, an ounce of prevention is worth a pound of cure.  ISPs will go down, power outages will happen, phones will ring, and computers will crash.  These setbacks, however, will only overwhelm a trader who fails to prepare, and there are methods which can prepare a trader for any such eventuality.   By keeping his trading platform on a dedicated computer and using a separate computer for activities more susceptible to malware, such as research, emails, and downloads, a trader minimizes his exposure to potential computer crashes.  In addition, by keeping an updated copy of the trading platform on a backup PC or laptop, the trader adds a second layer of protection.  An investment in an uninterrupted power supply (back-up battery) takes control of the electrical supply away from the power company and puts it in the hands of the trader, just as a backup cell-phone modem takes control away from the ISP.Beyond preparing for the technical problems caused by a disruption of electricity, internet connection, or hardware/software failure, another level of preparation can be employed to ensure that the trade does not succumb to mental handicaps.  If a glut of phone calls causes the trader unnecessary distraction, he can simply respond by putting his phone on silent for the duration of trading hours.  If a low blood sugar level causes the trader to act rashly, impulsively, or emotionally, eating a healthy, balanced breakfast can help quell these impulses.  All of these steps, for both computer and personal well-being, add a level of preparation to combat the unexpected complications of a life of trading.               

The trader must always remember than not everything is within his control.  The trader cannot control a specific company’s earnings reports, news stories, world events, political directives, signals, or indicators.  Traders must learn to accept these things as out of their control, and understand that by being prepared for the negative happenstances within their control, it is possible to minimize the impact of all adverse negative situations.    

CptNemo
MarketKeyTraders.com
“No decisions based on FEAR”