A pill for missed opportunities
Previous parts of the post:
Part 1: My Three Comrades: the Chart, the Screener, and the Watchlist
Part 2: Two captains of the same ship
The market is an element we take for granted. It can't stop when we're busy doing other things, and it can't work if the stock market is off and you personally have work days.
The small investor's impact on the market is close to zero. Some may not like it, but I see it as a big plus. I'm not the only one. Even Peter Lynch wrote about this. It is because of our size that we small investors have the ability to get the best buy and sell prices on stocks. Just imagine an elephant and a mouse trying to drink water from a coffee mug. Who has a better chance?
Like the best sales, attractive stock prices don't last long. This also applies to the period of increased stock prices that are interesting to sell. To make sure you don't miss this time, TradingView has an alert service.
Why do we need an alert system? For our convenience. Once we have selected fundamentally strong companies, our next step is to keep an eye on their stock price so we can buy them at a price we can benefit from.
You remember our strategy, right? Buy rooms in a great hotel, and even during a sale period.
How do you monitor these "sales"? You have two options: to monitor the price chart yourself during the trading period, or set up alerts so that if the stock price reaches a certain level, you will receive an SMS message to your phone or email, or a push-notification in the TradingView app (depending on your settings). Agree, this is very convenient.
So how do you set up the alerts?
1. First of all, you must open the chart of the stock you are going to configure the alerts for.
2. Then click on the "Alert" button at the top toolbar of the chart.
3. Set the alert parameters in the settings menu.
How do I read the settings in this picture?
If the Apple stock price is less than $130 per share, I will receive an alert every minute, all the time the stock is trading below $130.
The alert I will receive will contain the following message:
AAPL Less Than 130.00
If you don't want to get an alert every minute, set the trigger to "Only Once".
4. In the "Notifications" tab, you can configure where the alerts and the sound will go. The system of customized alerts will allow you to use your time effectively. You will not be chained to the monitor and you can calmly wait for the cherished message.
In the picture you can see that alerts can come as:
- push notification to your phone (if you have the TradingView app installed);
- a pop-up window on your monitor;
- a letter to your email address;
- a message to a web address (advanced feature for developers);
- SMS to your phone, but via email (i.e. your email service must have the ability to send copies of emails via SMS).
As for my investment strategy, it's quiet enough to work on it even without alerts. Mr. Market doesn't often come with insanely interesting prices, so it takes time to get to the target values. It's like waiting for an astronaut from the Moon: he can't return to Earth in a day, you have to wait patiently, with the occasional peek at the situation.
So, I'm concluding my series of posts dedicated to the basic functions of TradingView. I advise you to "play" with the platform for a while to get used to it as quickly as possible. In fact, it has a lot of features that you will discover over time. For now, that's it.
In the following posts, we will begin to examine perhaps the most important aspect of an investment strategy, which is fundamental analysis. Get ready, here comes the part that will require the most concentration. But then you will be able to navigate this topic with ease.
See you next time!
Part 1: My Three Comrades: the Chart, the Screener, and the Watchlist
Part 2: Two captains of the same ship
The market is an element we take for granted. It can't stop when we're busy doing other things, and it can't work if the stock market is off and you personally have work days.
The small investor's impact on the market is close to zero. Some may not like it, but I see it as a big plus. I'm not the only one. Even Peter Lynch wrote about this. It is because of our size that we small investors have the ability to get the best buy and sell prices on stocks. Just imagine an elephant and a mouse trying to drink water from a coffee mug. Who has a better chance?
Like the best sales, attractive stock prices don't last long. This also applies to the period of increased stock prices that are interesting to sell. To make sure you don't miss this time, TradingView has an alert service.
Why do we need an alert system? For our convenience. Once we have selected fundamentally strong companies, our next step is to keep an eye on their stock price so we can buy them at a price we can benefit from.
You remember our strategy, right? Buy rooms in a great hotel, and even during a sale period.
How do you monitor these "sales"? You have two options: to monitor the price chart yourself during the trading period, or set up alerts so that if the stock price reaches a certain level, you will receive an SMS message to your phone or email, or a push-notification in the TradingView app (depending on your settings). Agree, this is very convenient.
So how do you set up the alerts?
1. First of all, you must open the chart of the stock you are going to configure the alerts for.
2. Then click on the "Alert" button at the top toolbar of the chart.
3. Set the alert parameters in the settings menu.
How do I read the settings in this picture?
If the Apple stock price is less than $130 per share, I will receive an alert every minute, all the time the stock is trading below $130.
The alert I will receive will contain the following message:
AAPL Less Than 130.00
If you don't want to get an alert every minute, set the trigger to "Only Once".
4. In the "Notifications" tab, you can configure where the alerts and the sound will go. The system of customized alerts will allow you to use your time effectively. You will not be chained to the monitor and you can calmly wait for the cherished message.
In the picture you can see that alerts can come as:
- push notification to your phone (if you have the TradingView app installed);
- a pop-up window on your monitor;
- a letter to your email address;
- a message to a web address (advanced feature for developers);
- SMS to your phone, but via email (i.e. your email service must have the ability to send copies of emails via SMS).
As for my investment strategy, it's quiet enough to work on it even without alerts. Mr. Market doesn't often come with insanely interesting prices, so it takes time to get to the target values. It's like waiting for an astronaut from the Moon: he can't return to Earth in a day, you have to wait patiently, with the occasional peek at the situation.
So, I'm concluding my series of posts dedicated to the basic functions of TradingView. I advise you to "play" with the platform for a while to get used to it as quickly as possible. In fact, it has a lot of features that you will discover over time. For now, that's it.
In the following posts, we will begin to examine perhaps the most important aspect of an investment strategy, which is fundamental analysis. Get ready, here comes the part that will require the most concentration. But then you will be able to navigate this topic with ease.
See you next time!
🏅Follow the Golden winner of TradingView Community Awards 2023:
tradingview.com/u/Be_Capy
📊For free access to the Fundamental Strength Indicator and Rainbow Indicator, please send me a message at TradingView or becapy@yahoo.com.
tradingview.com/u/Be_Capy
📊For free access to the Fundamental Strength Indicator and Rainbow Indicator, please send me a message at TradingView or becapy@yahoo.com.
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