What is Trading Alert
Trade alerts are automatic notifications that are sent to an individual whenever a particular specification (conditions set earlier) is triggered. These alerts are free and customizable.
So, what are the specifications for which the alerts are set? Trading alerts are on price movements, for some technical conditions change, or when certain economic events occur. These notifications are sent by SMS or push notification or through email. Thus, with such trading alerts set, the trader can grasp the opportunity as and when it comes.
Trading alerts are set on different portals that offer the alert facility. The process is simple and takes a few minutes to set the alert. However, various portals have different ways of setting up an alert. The usual procedure is to navigate to the Alerts tool or section. Many portals provide an option of setting up a news alert and a trade alert. If you wish to set up the trade alert, you must enter the ticker there. Select the kind of alert you want to set up. Next, add any additional comments you need.
You can select the type of notification and then add it to your alerts list. You can choose how you wish to get the alert – whether you want to receive an e-mail or an SMS or a push message. You will soon get the alerts you require, automatically.
How Can Trade Alerts Help You?
Setting trade alerts is beneficial for traders in many ways. Here are some of the many ways by which day trading with chart alerts help traders:
- Saves them from missing out opportunities – With trade alerts, you will never miss out on trading opportunities. For example, you might be waiting for $ABC to break out above $150. You would not like to miss this move at any cost, but you cannot keep track too all the time. If you have an alert set, you can take the right step and get it.
- Watch list can be small – Traders who make it big reveal that less is often more. Focusing on lesser stocks helps in giving each stock a lot more attention. This helps in getting favorable trading outcomes. Creating a long watch list does not help and is thought to be counterintuitive. Keeping the watch list short and simple help, and this is possible with trading alerts.
- Efforts are automated – You have a chance to see alerts quite frequently. They become a capable stock scanner. Just search for what you want, go ahead, set alerts, and sit back and relax. Whenever you have an alert, you can take action accordingly.
- Combined Metrics – Let us assume that you have a deep interest in stock A, but you are waiting for the day when you know about its higher than average volume. For this, you can quickly set an alert. You can place multiple conditions, for example, ‘higher than average volume’ or news. You might also be eager for a breakout. However, you desire a higher than average volume so that you can stay away from false triggers. In such a situation, you can set alert for volume trigger conditions and price triggers. It will help in creating a smart refined strategy.
- Reduce the Market Noise – If you are a beginner and you try to grasp everything that is going on in the market, you will face a sensory overload. With so much noise, comments, and opinions on moves, strategies, and speculation, you might feel lost at times. One right way of reducing all the market noise is by developing these alert triggers. You can stay focused but not be on edge.
How to Receive Chart Trading Alerts?
Traders get alerts in many ways, including email notifications, on-chart alerts, SMS, push notifications, and more.
On-Chart alerts can trigger a pop-up, or they can also produce a sound on the occurrence of an event. This event can be in the form of a breach of trend line or an indicator. These on-chart indicators are perfect for traders who desire to have their alerts based on price action and not static numbers. Text messages and email alerts are also quite common. Traders can quickly check the notifications from their mobile devices, without having to monitor the market like a hawk continuously. Twitter is the most popular medium to receive alerts in the present times.
Trade alerts are a practical solution and an easy way to monitor market movements. Beginners tend to feel overwhelmed and can benefit a lot from such alerts.
