Alert

What are day trading alerts?

As an intraday trader, you are given a number of hurdles to overcome. How do you choose between thousands of different stocks? How do you react to news announcements before the rest of the market?

 

 

This is where the day trading alerts come in. Simply put, they alert you when a specific event occurs. This event can be a market development, technical indicators or reaching a specific price target.

Armed with this information, you can act or react quickly, increasing your chance of delivering an intraday profit. You may want to pay more attention to a particular stock, or it may let you know to enter or exit a trade.

You can get simple and free trading signals that come with your trading platform, and you can get additional, complicated alerts that are offered for a price. The complexity of your notifications will depend on your individual trading style and needs.

However, in general, you can divide trading alerts into different categories.

News

Every second counts if you aim to profit from small intraday market changes. So, if an app makes you aware of relevant news announcements as soon as possible, you can maximize profits. The best news of this nature will also be accompanied by commentary and analysis to improve your trading decisions.

Technical Alerts

It will be based on technical analysis. You can create trade alerts based on most popular indicators including:

• Moving Averages
• Exponential Moving Averages
• MACD
• RSI
• stochastic
• Bollinger bands
• Standard deviation
• Share (CFDs)

Most providers allow you to map and create alarms with ease. You can also create different conditions by combining different indicators. So, for example, you can have momentum trading alerts that work with moving averages.

Price Alerts

This allows you to react to price movements as they happen. It creates instant buy and sell signals across all markets. Some providers also let you choose between price level alerts and price change alerts, which will reset automatically once activated.

These live alerts often have risk management advice to ensure you minimize losses in case the strategy doesn’t pay out.

Economic Alerts

If you think markets will react to specific economic events, such as non-farm payrolls, you can set up an alert. Several platforms allow you to browse a social economic calendar and then mark the events for which you want to set reminders. This usually allows you to indicate how you want to be notified, and how much notification you want.

Market Availability

As technology has evolved, effective intraday trading alerts can now be found for almost all markets. You can now find automated signals for the following markets:

• Futures (eg gold and wheat)
• Stocks (eg Amazon and Google)
• Forex (eg GBP / USD and EUR / USD)
• Commodity (eg Oil and natural gas)
• Binary options (eg Forex / interest rates)
• ETFs (Exchange Traded Funds)
• CFDs (contracts for difference)

So whatever market you dig into Bats, Nasdaq, Dax and NYSE, you will be able to set up live trade alerts.

Methods of receiving alerts

On-chart trading alerts

You can receive your alerts in a number of simple ways. You can register for notifications that appear when you are on your web-based trading platform, for example TradingView. They will usually make a sound to let you know that there is an interesting event.

This event can all arise from the violation of a trend line or indicator. This method is ideal for those interested in price action as opposed to static numbers. For example, if you draw a downtrend line, the alert will be at 11:00 am. At 15:00 hours is activated at a different value, simply because of the slope of the line. This means that your alert can tell two different things, price and time.

alternatives

You can also download programs specifically aimed at providing you with professional alerts. Alternatively, you can get mobile SMS notifications. This allows you to react to important market developments even when you are on the move.

There is even the option of Twitter alerts. That’s right, you can stay up to date with Donald Trump at the same time as receiving important business information. If this doesn’t suit you, you can set up email alerts and thus record data.

Technology now allows you to receive your alerts in whatever medium best suits your needs. For example, an intraday trader who is glued to the screen all day can benefit most from alerts on their web-based platform. A trader who trades part of the day while juggling other commitments may prefer SMS alerts.

It’s about finding the system that compliments your trading style and allows you to digest information and take action as quickly as possible.

 

 

Why use warnings?

Alert offers the smart trader a number of invaluable benefits:

• Offline – If you’ve been looking at an inventory all day, you don’t want to miss the opportunity just because you had to get out quickly. Alerts can be sent directly to your phone or tablet to keep you informed when you’re away from your desk.
• Time – Rather than monitoring stocks all day and doing complicated calculations, you can program according to your criteria and then receive a price alert when it’s time to strike. This gives you more time to concentrate on other important trading areas, such as risk management.
• Automation – Human traders can make mistakes, especially when the stakes are high. Some warning systems are now 100% automated, relying on very precise mathematics and removing the margin of human error.
• Speed – Rather than manually monitoring the news, you can relax and let a system that suits your market work. This means you can get notifications for upcoming events, reminders an hour before an event happens, plus instant alerts when news breaks. You can also get macroeconomic figures as soon as they are released.
• Ease of Use – As programs are constantly being improved, you can receive alerts faster and easier than ever before. You can get alerts by sending a push notification on your mobile phone, the platform and by email. So, whatever strategy you employ, from swing trading to reversals, you’ll find setting up signals straightforward.
• Detail – You now get more detailed and relevant information about your needs. You can be alerted to assets that are showing promising signs of range, volume and volatility. You can also add numerous filters to eliminate additional noise, making trading decisions simple.

How to use trading alerts

While the use of alerts comes down partly to personal preference, there are also some fundamental ways you can take advantage of them.

Noise reduction

One of the benefits of trading alert software is that it can streamline the decision-making process by reducing market noise. This is especially handy for beginners who may feel overwhelmed by market scanners, news, blogs and any other sources they are tuned into.

Alerts can simplify the market as you can program your alerts to only monitor stocks once the alert occurs. This will focus you on pursuing your strategy instead of monitoring all market activity.

With a little practice, you can eventually get to a point where you can set your trade alerts the night before and only watch the asset during the day if an alert is actually triggered.

Entering and exiting trades

Go to your broker’s platform and you can set precise alerts for price targets, so that you are made aware of, for example, when a stock breaks out. It won’t make a difference how long it lasts, or if the stock breaks out higher or lower, you will automatically receive an alert when it’s time to make the trade.

It will also be time free from excessive monitoring, giving you the opportunity to focus on preparing for future trades.

Highlighting mistakes

Most people only think of alerts as useful for telling you when to enter a position, but they can also be used to recognize failures. Something that most people overlook. If you don’t learn from your mistakes, you’ll quickly find yourself deep in the red.

How do you use warnings to flag errors? You set a warning at a key level, that if you meet it, you stop and think. Some traders may think that this is basically just a stop level. But use it correctly and you can program it to warn you when you’re approaching a stop level. Then you have the opportunity and time to respond.

You can check if the stop level is indeed still valid, or if it is just a shakedown. If it’s a shakedown, you can chance another turn to dodge the trap.

Best Trading Alerts and Software

There are numerous daytime alert services out there. Although the one you choose will depend in part on your market, among the best of the markets have been collected.

Honest Forex Signals

If you are looking for FX (forex) warning signals alerts, this is a fantastic choice. Although it is not free, you get a large number of simple and complex signals to choose from for $177 for a monthly subscription. All are user-friendly and simple to set up.

They are also known for the unparalleled customer service. It is readily available and answers the customers’ questions almost immediately. So, if you are looking for ‘A forex alerts app to boost your trading performance is a wise choice.

Trade the news

If your strategy relies on using news announcements, this sound pack is worth your consideration. You’ll receive breaking news plus 24-hour live analysis straight to your ear on the following topics:

• effects
• Treasury
• Fixed income
• Interest rates
• commodities
• Central banker speaks
• Energy news
• Natural disasters
• terrorism
• Geopolitical developments

On top of the audio broadcasts is the NewsStation text platform where you’ll find accurate and detailed analysis moments after breaking announcements. If you’re looking for a system that ensures you’re one of the first to know, this is a great choice.

Real-time stocks tracker

If you are looking for FTSE alerts, this is one of the best options. This comprehensive app provides you with real-time notifications about stock options, news, events, earnings, plus signal scans. If that’s not enough, you can create multiple watch lists, real-time streaming quotes and interactive charts with more than fifty technical indicators.

The only downside is that it is currently only available in the App Store for iOS devices. However, as popularity and demand increases, an Android version may well emerge. Nevertheless, it remains one of the best systems for receiving alerts for day trading.

While these are three of the most popular choices, some other options worth considering are listed below:

• 24option
• Inside trade
• Monster trade
• C square
• train track
• harmonic
• superman
• Meta Trader
• FXCM trading station
• IG
• SuperAlertsPro

Can you profit from trading alert services?

Despite the promise that the service providers are perceived by wealth, there remain some disadvantages to be aware of. First, remember that however many benefits trading signals and alerts offer, they do not replace experience and will not work without an effective strategy.

Second, you need to consider the glide path. There will always be some lag in your alertness and your ability to execute or exit a trade, and when you’re intraday trading, every second and tick counts.

So there are several questions you should ask before signing up for the ‘latest and greatest’ alert system: What is the actual content of the trade alert? Will it include details such as entry price, stop loss and price target? Finally, how many other subscribers have subscribed to the same preset alerts? If it’s too much, you may find yourself part of the trend and not for it.