Why You Need A Backup Plan When Trading Forex
In this video:
00:58 The Importance of computer backups
03:10 Having a VPS
04:32 A lot of success in 12-hour chart trades
Why You Need A Backup Plan In Forex Trading
Do you have yourself a backup if your computer crashes and everything goes wrong? Let me explain exactly what I mean right now.
Hi Forex traders, it’s Andrew Mitchem here and I’m the owner of The Forex Trading Coach and I want to talk about having a backup plan. Well we allu have plans in our trading and everything else that goes on but do you have a backup plan if the worse happens to your computer?
Now the reason why I want to talk about this is because I’ve had this exact the same experience myself just last week. I’ve had a number of issues with my computer, it wouldn't start and I took it to the computer shop but luckily because I have a plan, first of all I’ve got a very reliable computer shop who look after me but also I have everything backed up.
Backing Up Your Information
Now it’s important that you have things like Google Drive or Dropbox, you have your computer, your software backed up to maybe a portable hard drive or even backed up incrementally offsite so it's stored on another server elsewhere whatever it is, make sure that you have that in place.
Also if you are using a desktop all of the time for your main trading like I do when I’m trading here from my home;
Make sure that you have a laptop and it’s up to date
Make sure you have all your trading software on there
Make sure that you have copies of if you’re using MT4 let’s say, like I do
Make sure you have your indicators, your scripts, any robots, your profiles, your templates, everything backed up