Backup for your execution programs too?

Discussion in 'Backup and Security' started by steve46, May 4, 2004.

  1. Hey folks:
    Just had an interesting experience for which I didn't have a contingency plan. I closed down my execution program (Ninjatrader) to go have lunch. When I got back, the program could not be activated because the licensing servers are down. So I am watching the last hour instead of trading. Apparently, those of us who use automated execution programs should have a back-up in place in case this kind of failure occurs. I have to admit I never thought about this but, live and learn. Good luck in the last hour everyone. Steve46
  2. Or perhaps your worm is still persisting... I too had some problems with NT recently...
  3. I have been scanning and find no traces of the worm. It is 12:24 pm local (west coast usa) and still I get message that the Yahoo licensing servers are down OR my license in not active. Thats where we stand. Too bad. I would have traded that down move at 12:00. Oh well. Steve46

    By the way Electron, how recently did you have problems?
  4. Well, yesterday, and I had to reinstall API 7.3 after fixing the worm damage...
  5. I see. Well this is progressing from just an annoying problem to a real expensive opportunity cost as the Emin touches 1116. My usual last hour trade would have been a short at 1123.25.
  6. OK then, at exactly 1:16pm, I was able to re-connect Ninjatrader to my account. Of course it was a little too late to make any money with it, but I am glad to say that it was not my machine. Apparently the Yahoo licensing server was down. Well, as I mentioned before, I have learned a valuable lesson. How valuable? Somewhere between 1500 and 3 grand. Also I want to present all the facts fairly. At Ninjatrader the programmer (Ray) informs me that this has "never happened" over the last 12 months. Of course for a trader, the important thing is not what has happened over the previous 12 months, but what may happen over the next 12. I hope that others who may read this thread are encouraged to plan for such occurences. Have a backup in place! A chain is only as strong as its weakest link (and all that crap). Best Regards, steve46
  7. Well, I have AT, BT, ZLT, AmigoTrader and TSim+ on my machine just in case. They are all free, ZLT in a limited way. You can certainly have a very good backup...
  8. Well said Steve46. I have mentioned my "paranoia" (as some people call it) several times on this message board for all the "server based software" which needs an internet connection to be activated.

    Besides a decent backup / recovery strategy one may well want to examine ones fundamental setup and long term implications. Depending on your trading strategy you may not require (and hence want to stay as far as possible away) from charting packages that have a monthly fee (= requiring an internet connection). Company goes down: You are history! Company changes it license fees: You are locked in (how long takes it to learn all the ins and outs of the software? All the add-ons you created? All the interfaces to data feed, to other software that you use?).

    Give me stand alone software any day, in spite of all the shortcomings that it may have. In that way I can travel, sit on a beach and do trading on EOD data (downloaded on a floppy or entered manually from CNBC) and still do my analysis. I did not leave a workplace to be tied down to a specific location. (where I have my 24 hour internet connection running all the time). Unfortunately it seems the way most stuff goes these days as exhibited by the direction of Interactive Brokers (starting to add charting), eSignal, TradeStation to mention a few. It is a prime example of the vendor only having its own interests at heart and not the interest of the trader.