Monday 1 September 2014

Is Cloud Storage Useful For Traders?

Cloud storage is still a topic that is literally in the clouds for most traders. Whether or not cloud storage is right for you is a personal preference. You should consider what place it has in your trading computer backup system and how you can leverage the features it offers.


The best place to start understanding cloud storage is to really understand what the benefits are in order to be able to assign it a place in your backup system. The most important feature of cloud storage can be summed up as ease of use. Let’s face it; there are tons of options for you to be able to create a back up system for your trading computer. You can use an external hard drive or USB thumb drives in combination with automation software to help you get this done. True, there are many paths you can take to make sure that your best trading computers information is safe and backed up. Cloud storage offers you a low cost, most times even free, back up storage option.


Cost might not be the driving force for you in your back up system. However, the security of your system should be the main concern. You are going to be entrusting these backup options with very sensitive information. Imagine your passwords to your trading accounts being hacked and compromised. There is a lot at risk here. This is all the more reason not to take any short cuts on the means in which you secure your information. Online storage services encrypt your information during transmission and storage. This is important to know about cloud services because of the sensitivity of your personal and trading information.


Trading computer setups can be easy to configure. That is until you have to scramble to figure out how you can take the power and convenience of your at home set up on the road with you. This is an area where cloud storage can become your best friend. Cloud backup storage services allow you to sync your information across multiple devices. This means that your information will be accessible from your desktop, laptop, and mobile devices. You can also share your information with your colleges by selecting one file or a whole folder that you would like them to access. This is the perfect solution if you have the need to collaborate with other traders.


If disaster strikes, in the form of a loss of data, you want to be able to rely on your back up system to keep running smoothly. Cloud storage might make sense as part of your back up systems. It’s not a complete back up system in itself, but rather a unique tool to use as part of your trading computer backup plan.

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