Warrior Trading Blog

Being Prepared To Face The Unexpected

prepared

Being Prepared To Face The Unexpected

I have talked quite a bit about how approaching trading as a professional career can make the difference in the long run in previous blog posts (you can read this one if you wish to get more information), and remember, we’re all here to run the marathon rather than just gambling to win the sprint. Looking for a system that would turn anybody into a millionaire overnight is not a business that has any interest to me. And, quite frankly, it’s not a sustainable “business” at all.

I’m writing on this premise because it’s the most important step not only when aspiring to become a full-time trader, but also if you just want to reach a level of self-sufficiency for working proficiently. In fact, what I am about to tell you here comes directly from a personal experience that happened to me which could have affected my daily performance and my ability to trade.

Here is what happened. Three days ago, on the very first day after coming back from the New York City seminar, I was about to start my routine for the upcoming trading session when a message popped up on my computer screen. Windows Update was required and, since I still had enough time before the opening bell, I decided to get it done immediately. What happened next is something that could have easily turned this simple operation into a real nightmare.

All of a sudden, the unexpected happened. The update got stuck and turned into an error that compromised the whole functionality of the operating system. At first, I could not believe it was really happening to me. If you may know, I’ve a Master’s Degree in Computer Science but I could not prevent the update from damaging my computer. Just like trading, even if you have the best possible record after many years of being consistently profitable, bad trades will continue to happen. That’s why risk management is the most important skill for each trader to possess.

Your Own iPad May Save Your Trading Day

So, by this time, I was already late into my pre-market analysis. Thankfully, I usually begin my preparations quite early so I can have time to build my trading plan (read more about how I build my own watch-list here). Today, it was different and could have turned it into the huge frustration of not having the ability to perform my job at all.

prepared

Here is when having a backup plan may save your day. In my case, I do have an extra laptop that I bring with me when following my other great passion, which is traveling. With this setup I can continue to trade while being on-the-go. I’m attaching some pictures of my own trading station that I used as my backup.

Not everybody knows that an iPad can be turned into an external monitor (there is an app called “DuetDisplay” that serves very well its purpose). So, having an extra trading station can not only be used when in need of trading away from home but also as an effective backup solution in case of having to face the unexpected.

prepared

Now, it took me three full days of hard work to restore my main trading station to its full functionality. Meanwhile, I was really glad that I could continue to profitably trade the market as well as serving the Warrior Trading community. I felt in need to share this simple story for encouraging you to always have a backup solution in place in case something unexpected happens like this.

If you don’t have one think about setting one up soon because the unexpected doesn’t wait for you to be ready and anticipating the issue is what keeps you standing while others may fall.

 “You have to take risks. We will only understand the miracle of life fully when we allow the unexpected to happen.” – Paulo Coelho

 See you in the chat room.

Trade safe,

Roberto Barbaro