DEFINITION of Alerts
Alerts allow you to establish specific criteria and you be notified immediately when that criterion has been met. You can find them under name of trading alerts also.
WHAT IT IS IN ESSENCE
There are three main types:
- Price – they can inform you when a certain buy or sell price is reached. Your broker can alert you via email, SMS or receive notifications settled up via some platform.
- Indicator – similar to price type. The difference is that it allows you to respond to particular technical indicators instead of price movements. They are created via integrated charts and can consist of indicators such as moving average, RSI, Bollinger band, and many others.
- Economic announcements – deliver macroeconomic information to you at the moment they are released to the market. To activate them, you have to just log into your social network account. And check which upcoming events you’d like to be alerted about. These alerts are available as mobile notifications, platform pop-ups or emails.
That’s right; you can receive them via text messages or email alerts. You may be asking yourself “why would I want to receive a text message or email of a trading alert?” For all who trade full-time, this will probably be too much. Because you are sitting directly in front of your computer screen all day along. However, for those traders that have day jobs, this is a perfect way to stay plugged into the market. And without having to watch the market non-stop.
HOW TO USE
This kind of help in trading can essentially give an estimate on market direction. Experienced traders, experienced market analysts who study the markets every day are sending them to you. They want to summarize what will be each day’s most notable price trends and share their personal insight with traders.
Traders can receive alerts on chart indicators, or as a text message, email, and Twitter alerts.