Equipment and software failures occur from time to time. Yesterday, I had some software problems. I also use a battery backup system that powers my trading computer, router and cable modem, monitor, ethernet hub, and wireless keyboard and mouse. If the power fails, as it has before, I have about 30 minutes to complete a trade and close down my computer before I lose power.
The rechargeable battery to my wireless mouse died overnight. I thought I had a spare stored in my desk, but couldn't locate it, so I frantically went looking for a new one this morning. I was hoping to find one that was pre-charged, since I had seen some on Radio Shack's website. However, Radio Shack no longer makes them, and they had none remaining in the local store. Thus, I am stuck waiting for the batteries to charge sufficiently for me to begin trading again.
At first, I was climbing the walls! However, I am using the time productively. I am using my laptop to revise and update my trading plan. I am gradually evolving away from day trading to trading on a longer-term basis. I have been able to build up my account to a point that I can be more deliberative on my trades and take longer-term positions. This also permits me to take more positions in different instruments. Bid/ask spreads are also less of an issue, and I can take trades on instruments that have less Open Interest.
Instead of making a decision on a moment's notice, I can look at the charts in the evening and make a more studied decision. I have devised a method of trading that, even with long-term trades, I can keep my risk of loss very low, generally no more than about 5-7 ticks. Not bad!
The rechargeable battery to my wireless mouse died overnight. I thought I had a spare stored in my desk, but couldn't locate it, so I frantically went looking for a new one this morning. I was hoping to find one that was pre-charged, since I had seen some on Radio Shack's website. However, Radio Shack no longer makes them, and they had none remaining in the local store. Thus, I am stuck waiting for the batteries to charge sufficiently for me to begin trading again.
At first, I was climbing the walls! However, I am using the time productively. I am using my laptop to revise and update my trading plan. I am gradually evolving away from day trading to trading on a longer-term basis. I have been able to build up my account to a point that I can be more deliberative on my trades and take longer-term positions. This also permits me to take more positions in different instruments. Bid/ask spreads are also less of an issue, and I can take trades on instruments that have less Open Interest.
Instead of making a decision on a moment's notice, I can look at the charts in the evening and make a more studied decision. I have devised a method of trading that, even with long-term trades, I can keep my risk of loss very low, generally no more than about 5-7 ticks. Not bad!
