Everyone knows what alerts do, but few traders utilize them to their full potential.
There are 3 key reasons that alerts are so frequently used by expert traders.
Click here to upgrade your alert game and understand why they can be so effective โคต๏ธโคต๏ธโคต๏ธ
There are 3 key reasons that alerts are so frequently used by expert traders.
Click here to upgrade your alert game and understand why they can be so effective โคต๏ธโคต๏ธโคต๏ธ
1.) Alerts help you build and keep good habits. ๐ช
Stop us if this sounds familiar: you hear an awesome investment story, and then immediately go out in the market and purchase the asset, with no plan in place.
Stop us if this sounds familiar: you hear an awesome investment story, and then immediately go out in the market and purchase the asset, with no plan in place.
While this can work, itโs not a great strategy for long term success, because in reality it can be extremely hard to sit in that position without a plan and trade it efficiently.
You may choose to exit the position based on nothing more than momentary greed or fear, and moves like that can prevent consistency and long-term profitability.
Alerts are great because they take out the guesswork of entering and exiting a position.
Simply set alerts for the prices you would like, then place a trade if, and only if, the conditions are met. Then, let the market do its thing, and let the probabilities work in your favor.
Simply set alerts for the prices you would like, then place a trade if, and only if, the conditions are met. Then, let the market do its thing, and let the probabilities work in your favor.
Alerts can turn the experience of trading from a constant search for ideas - and always feeling behind - into a relaxing job of waiting for your own conditions to trigger before taking action.
In short, alerts can make you much more well prepared for the marketโs ups and downs.
In short, alerts can make you much more well prepared for the marketโs ups and downs.
2.) Alerts increase freedom and reduce anxiety ๐ง
There is a well-known maxim in trading and in life that states that negative emotions are felt twice as strongly as positive emotions.
There is a well-known maxim in trading and in life that states that negative emotions are felt twice as strongly as positive emotions.
This factoid has lots of applications, but it can be especially useful to understand as a trader.
Consider the following investors:
A dentist who checks quarterly reports from his brokerage
A position trader who checks his positions once a month
A swing trader who checks his positions once a week
A Day trader who checks his positions once a day, if not more
A dentist who checks quarterly reports from his brokerage
A position trader who checks his positions once a month
A swing trader who checks his positions once a week
A Day trader who checks his positions once a day, if not more
Given the natural volatility that markets experience, which market participant is least likely to be mad or upset? The dentist.
Why? Because he is receiving less data points from the market.
Why? Because he is receiving less data points from the market.
Even world class day traders are exposed to tens or hundreds of negative situations in their positions on a day-to-day basis as a result of volatility, which they cannot control.
This level of negative stimulation can reduce mental health and trading effectiveness.
Alerts allow you to protect your mental capital.
Alerts allow the market to come to you.
Alerts allow you to protect your mental capital.
Alerts allow the market to come to you.
3. Our alerts donโt let anything fall through the cracks โ
Ever try using our alerts? They're a cut above the rest.
Ever try using our alerts? They're a cut above the rest.
Once you have setups that you like to trade, you can set alerts on trendlines, technical indicators, customizable scripts, and so much more, so you can ensure that your favorite setups arenโt being missed.
This can be as simple as a long-term investor setting RSI alerts on Dow 30 stocks, in order to buy dips in strong names, to as complex as an intraday futures spread scalper setting alerts for pricing inefficiencies within his top 40 contracts.
Our customizable alerts can really allow well organized traders to capture every opportunity as they see fit.
(BTW: if you need more alerts, then now's the best time to stock up on more of them!)
tradingview.com
tradingview.com
And there you have it! 3 reasons to take advantage of alerts and all of the awesome benefits they bring.
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