If you’re using an online trading system to make money, you need to be certain your online trading security is set up correctly. What it comes to online trading, it takes more than just a super fast trading computer. When it comes to security you have a variety of options available to, and it’s a good idea to explore them all.
Your day trading program will likely include software provided by the brokerage you use to place your trades. You may also use 3rd. Party trading indicator add-ons for your primary day trading platform that is critical for successfully implementing your trade plan. In both instances, you have to back up any information generated by these programs including any custom settings you defined. Understand that a software program and the data files it creates are two different things. Some software programs already have built-in backup features. They are a few progressive trading platforms that now have back and restore functionality built into the software. But, even those features are not enough. You should still use a different “external” service to ensure your online trading security infrastructure is setup correctly.
Files that are often overlooked when creating a solid online trading security plan are documents you created to provide additional support to your trading plan. For example, think of all the Excel spreadsheets you’ve made or notes you have saved in Word documents.
Any programs, data files, or support documentation that are backed up to removable media in your home must be properly secured. Home-based storage is only as good as the location where you keep your backup tapes, external disks, etc. In other words, if you are going to go to the trouble of backing up “locally”, make sure you store your backup media in a safe. Ideally, you should have a safe that is designed to provide security for digital media. These safes have proper locking mechanisms, are tough to get into – nearly impossible to get into, in fact – with power tools and can endure the heat from house fires long enough to ensure that the online trading security media in them is not destroyed. It’s pointless to save your data in the real world if it can be destroyed by fire or a flood.
Additional Note: When it comes to trading journals, the only viable way to preserve them is in a safe. Like things related to paper-based journaling, storage can be difficult and tedious. A more secure approach would be to use a reputable online trading journal.
There are well established, reputable, and secure “cloud” storage options in the market today. These services provide you with an alternative to the more cumbersome and old-fashioned approach of storing backup media in your home. But, even with this method, there are safeguards to keep in mind. Make certain that and cloud storage service you use encrypts all your data files on their servers. This configuration means that even if somebody were to access your data, they could not open them up. Computers allow you to, essentially, make infinite copies of any information on your hard drive free. Use cloud backup technology to your advantage and regularly store your hard earned valuable data in a secure location.
This link shows you how to backup the critical components of your NinjaTrader software.
Here is a video demonstrating how to backup your settings with NinjaTrader 7.
TESTIMONIAL DISCLOSURE: Testimonials appearing on www.IndicatorWarehouse.com may not be representative of the experience of other clients or customers and is not a guarantee of future performance or success.
LIVE TRADE ROOM DISCLOSURE: All presentations, videos, and information are for educational purposes only and the opinions expressed are those of the presenter only. All trades presented should be considered hypothetical and should not be expected to be replicated in a live trading account.
Commodity Futures Trading Commission Futures and Options trading has substantial potential rewards, but also significant potential risk. You must be aware of the risks and be willing to accept them to invest in the futures and options markets. Don’t trade with money you can’t afford to lose. This website is neither a solicitation nor an offer to Buy/Sell futures or options. No representation is being made that any account will or is likely to achieve profits or losses similar to those discussed on this website. The past performance of any trading system or methodology is not necessarily indicative of future results.
CFTC RULE 4.41 – HYPOTHETICAL OR SIMULATED PERFORMANCE RESULTS HAVE CERTAIN LIMITATIONS. UNLIKE AN ACTUAL PERFORMANCE RECORD, SIMULATED RESULTS DO NOT REPRESENT ACTUAL TRADING. ALSO, SINCE THE TRADES HAVE NOT BEEN EXECUTED, THE RESULTS MAY HAVE UNDER-OR-OVER COMPENSATED FOR THE IMPACT, IF ANY, OF CERTAIN MARKET FACTORS, SUCH AS LACK OF LIQUIDITY. SIMULATED TRADING PROGRAMS, IN GENERAL, ARE ALSO SUBJECT TO THE FACT THAT THEY ARE DESIGNED WITH THE BENEFIT OF HINDSIGHT. NO REPRESENTATION IS BEING MADE THAT ANY ACCOUNT WILL OR IS LIKELY TO ACHIEVE PROFIT OR LOSSES SIMILAR TO THOSE SHOWN.
Use of any of this information is entirely at your own risk, for which Indicator Warehouse will not be liable. Neither we nor any third parties provide any warranty or guarantee as to the accuracy, timeliness, performance, completeness or suitability of the information and content found or offered in the material for any particular purpose. You acknowledge that such information and materials may contain inaccuracies or errors and we expressly exclude liability for any such inaccuracies or errors to the fullest extent permitted by law. All information exists for nothing other than entertainment and general educational purposes. We are not registered trading advisors.