| Area of Concern |
Impacted System/Service |
Backup Needed/Solution |
Notes |
| General power failure |
Computer system power, communications system power |
UPS of adequate size and duration to power backup all systems; use telephone to cancel orders |
If UPS system fails and in trade, contact Broker via phone |
| External Internet (data source) failure |
Computer system - charting and trade entry/exit |
Have available alternative Internet access (cable/DSL, wireless, dialup) |
Recommend exiting all trades until resolved; alternatively, use a secondary data source |
| Router/switch failure |
Computer system - charting and trade entry/exit |
Have available alternative Internet access |
Recommend exiting all trades until resolved |
| Phone system failure |
Primary communications to broker |
Use secondary service, i.e. cell phone |
If trading, ensure secondary service stays operational |
| Charting software failure |
Computer system, trade monitoring
|
Secondary computer system if already running, fully configured or can be very quickly booked and functional |
Recommend exiting all trades until resolved by calling broker
|
| Trade software failure |
Computer system, trade execution
|
Secondary computer system if already running, fully configured or can be very quickly booked and functional
|
Recommend exiting all trades until resolved by calling broker
|
| Cell phone failure |
Access to broker |
Ensure you have a fully-charged cell phone with usually reliable service; access to alternate phone service |
Verify alternate phone system is available and functional |
| Backup Preparedness |
All systems |
Review and test your Backup Plan monthly |
Eliminates the "Can't find my Plan" and related issues |
| Trade stops (remote or locally activated) |
Trade execution |
Always use stops or have your backup plan actively in place |
No stops, no backup plan is a recipe for disaster |
