Forex Digest

Setting Up Alerts to Trade More Efficiently

This article is a continuation of the Trader's Toolbox series of articles providing traders with the simple tools for profitable trading. This one is dedicated to setting Alerts.

The Alert service became a standard feature for many trading platforms these days. It is really helpful when you have multiple positions opened, then by setting an Alert you can free the valuable time and concentrate on managing trades rather that scanning stocks for possible entry points. The Alert will be watching a stock for you, notifying you when the opportunity is occurring.

Normally the Alert is used for the entry point and it is set on either Support or Resistance levels. The exit point normally is not marked by an Alert, as we use a Trailing stop, which we will cover in another article.

What I use in my practice is a watch list. The list of stocks that I select before the Market opens. Then I set up Alerts, based on Support and Resistance levels at each stock. I am adjusting alerts accordingly throughout a Trading day, but the major rule is to use Support and Resistance levels when setting them up.

Source: Trading Markets (press release)

What Are Forex Signals ~ | Forex Signals | Forex Course | Forex ...

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Source: What Are Forex Signals ~ | Forex Signals | Forex Course | Forex ...

News

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