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<DIV><FONT size=2>will you please try to give me your definition of
Breakout.</FONT></DIV>
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<DIV>breakout relative to what ???</DIV>
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<DIV>thank you very much</DIV>
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</x-html>From ???@??? Sun Feb 07 20:27:17 1999
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From: Patrick Slevin <pslevin@xxxxxxxx>
To: RealTraders Discussion Group <realtraders@xxxxxxxxxxxxxx>
Subject: Back-up Plan
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It's not inexpensive but even so I don't think I have all the bases covered.
This "system" evolved by countering actual problems that I have had over the
years. With regard to the expense, first of all it evolced over a period of
years and to do it all at once would make me stop and think. However, the
amount of money is really insignificant compared to the risk involved.
First of all, I installed a building surge protector. This goes on the Main
Feed coming into the building; in my case, my house. Past this, prior to
hitting my machines, I have an UPS and I am considering a second, or at least
larger UPS, as more equipment has been purchased over the years.
Redundancy is accomplished though the use of three machines, running three
different software packages. Two are fed data from a BMI cable modem. One is
fed data generated by PC Quote through a local ISP. I have a second ISP for
backup as well as for traveling.
One of the BMI machines can be switched over to PC Quote data from an @Home
Cable Modem. A 4 port Router splits the signal from the @Home Cable Modem so
if that machine goes down I can go to one of two older machines in the house
and be back up in a few moments. Any need to compensate for a failure from an
ISP can be compensated by a switch to @Home in a few moments; a failure by the
main machine attached to @Home may be offset by going to another machine in
the time it takes to boot one of the old ones up.
Then of course there is a Jaz Drive switchable to all three machines for
backup purposes and finally there is a cell phone fully charged next to one of
the computers.
I imagine there are a few other redundancies that I have built up over the
years but suffice to say that the computer hardware and the data feed are
backed up several times and the phones are backed up.
I THINK the only thing missing from the equation is external; that is, a
failure by all data providers, or a massive utility outage. Believe me, I
still worry from time to time about such a possibility.
--PJS
Anyone trading on line should have a back-up plan in place. Try to
get to know one or two brokers at the trading desk by name and extension
number. Call and ask to speak to a broker, ask them some general questions
about trading or investing to get to know them. Ask what the procedure for
FAXING trades to them is. Make up a fax sheet with the necessary headings
and the words "URGENT, TIME SENSITIVE MATERIAL - DELIVER TO TRADING DESK
IMMEDIATELY" in large bold letters at the top. Include account information
and add instructions to phone you back as soon as the order is placed. Have
a dozen or so available. If you can, put their phone number on the fax's
speed dial. I used this method during the Crash of '87 to place buy orders.
Anybody else have any "emergency" tips?
Good luck and good trading,
Ray Raffurty
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