Hi AW10,
Power failure could be either Scheduled or Unscheduled.
But unscheduled power failures hit us badly.
Scheduled failures may not as harsh as unscheduled.
Just as example ,we had an scheduled power cut in our area from
1500-1600 hrs.
At 1500 hrs nifty was trading around 5302 ,I placed limit order for 5305
and closed my position,ultimately it went up to 5315.
I did not venture to put a higher order because the other day I put an
order 2 points away and market at that point took U-turn.
Well ,solution for power failure could lie in buying GOOD inverter.And those
already having the system could come forward to help us.
What if the power fails at your broker's end ?
Their system crashes in the middle of the day ? Market chaos hit during the day due to some unexpected news which triggered during mkt hours ? Our computers hard disk crashes in the middle of mkt hours ?
Columbus, by extending the discussion on this topic, I am trying to address issue of disaster management and as a trader having plan to face them. Power failure is just one of them example. In the absence of it, when disaster hits, we will start digging the well when house is on fire.
Is it how we want to run our business ?
In my opinion, it is something that any serious trader should be prepared to face. Ofcourse, there is no limit to how far we want to go in this field of disaster mgmt.
Still better to be prepared then feel sorry later.
Happy Trading