How To Develop A Robust Trading Computer Backup Plan

As Traders, you would never take a position without knowing what your stops are, so why would you take that same risk with your trading computer data?

Inherently, we are all risk takers to some degree. Successful Traders might be willing to risk more than most to achieve an optimal outcome. The security of your trader computer data isn’t something you want to gamble.

You should be prepared for the worst-case scenario when it comes to your data backup plan. Hoping for the best or thinking that a hardware crash won’t happen to you is just as bad as entering a trade without an exit plan.

You should invest in developing a sound backup plan for your trader computer data.

In order to accomplish this, you will want to consider what storage schedule makes sense for your data and what backup options are ideal for you.

Why You Should Have a Regular Data Backup Schedule

It is important to establish a schedule to consistently backup your data.

What is the ideal backup schedule? Some traders choose to back up nightly, while others may be comfortable with a weekly or monthly solution.

A single full clone of your drive, saving software and applications, would be enough to get you back up and running in a disaster situation. Your secondary backups, which should contain your data files, could be restored as they are needed.

I suggest automating this process to ensure regular backups so that new information is never lost.

Windows 7 users can backup files automatically using the built in backup software.

There are many aftermarket software solutions for backing up your data including specialty backup and cloning software from companies such as Acronis, Paragon, and Norton.

Another option would be to create a repeating calendar reminder. This would allow you to receive this notification across all your devices, ensuring you have several ways of remembering to initiate a new backup.

How to Establish a Plan A and a Plan B

When it comes to your trading computer data backup plan, more than one option is ideal.

Use a removable or portable device as your first line of defense for your backup plan.

  • USB thumb drives range in sizes from a few megabytes to hundreds of gigabytes and the price of storage is continually dropping. USB’s allow you to have several storage sizes for your back up needs.
  • Portable USB hard drives are also available in the same storage sizes as their desktop counterparts, which make them for ideal full clone copies.
  • Both USB Thumb drives and hard drives are small enough to fit into a shirt pocket, which makes them ideal for offsite storage in a safe deposit box.

Cloud storage can be an effective secondary storage option; a plan b.

  • Adding cloud storage to your back up routine also provides you with offsite storage that can be accessed from any location.
  • Cloud storage is an ideal option when traveling, allowing you to keep your information secure even when away from your office.
  • The cloud storage arena has many options for traders. Companies such as Dropbox, Google, and Carbonite have invested millions in virtual backup technologies to ensure reliable and economical services.

Whichever option you choose be sure to set a backup schedule and adhere to it as you adhere to your trading plan. Both are just as important to your trading success.