How and why do I use the new intraday alerts
I want to share how I use the newly added intraday alerts.First of all, a little (Further training) My typical transaction process. Here is what I did for at least 80% of the transactions:
- Find interesting stocks (usually at night) to track or trade by scanning or viewing chart patterns in my watch list
- For those that are ready to buy, I will add them to my “ready” watch list and enter orders for them in my broker system the next morning.
- For others, it still takes some time to form the settings I like, and I will add them to another watch list.
- Wait for the order to trigger, then manage my stop loss…
Therefore, these intraday alerts cannot help me process 80% of the trades/orders that I have set in the broker system at the determined price level.but The intraday alert is helping me deal with those stocks on other watch lists. Most of the time, I will not check the stocks on these watch lists when the market is open. I check them at night to see if they have any new settings during the day. Usually I see one of them come back to some obvious entry point during the day, and I think “If only I could see it at that price…“
I can add all these stocks to my trading system (I did add Some of them) And watch them in real time, but this becomes overwhelming.And mine The broker’s system does not have some of the alerts I added, It’s like reminding me that the 50-day moving average breaks or touchesIf I enter them into my broker’s system, I also have to manually set up a bunch of alarms.
For my sanity and productivity, I try not to stick to my trading system during the day. I usually pay close attention during the first 30 minutes of the day, but then I do other things and check my position several times during the day. This is how my screen looks like this morning:
So I have my SwingTradeBot intraday alert page on the left and my trading system on the right. Every 15 minutes or so, I look at the stock chart that triggered the alert. Because of these alerts, I made two transactions today.
Update: I no longer refresh the page regularly, Intraday alerts are now pushed to SwingTradeBot mobile app. So I just wait for the notification to pop up on my phone, and then I check the alarm.
Mind Body (MB)
After MB’s breakthrough, I added MB to the watch list on Monday. I usually don’t like trading breakouts because I feel like I’m chasing The stock is likely to pull me back.So i like Keep track of these stocks and wait for better risk/return settings. This is the information I saw about MB this morning:
Those volume alarms plus the 2% down alarm made me look at the MB.What i see is It’s in the middle of the pullback to the breakout pointI can see it trying to bounce back from yesterday’s gap, and I think jumping into this level is a good risk/reward ratio. I placed a stop loss order with the yellow line below as protection in case the gap cannot be maintained.
This is an example Intraday trends I might not see Given the way I track stocks before starting to use these new intraday alerts.
Bluelinx Holdings (BXC)
Due to an intraday alert, BXC is another transaction I entered. I saw this set of alerts this morning:
I know that BXC is already very long, and I *have* to take a look, considering the speed of the volume and the fact that it has increased by another 5%. The following is the daily chart:
As a result, it has more than doubled this week, much higher than its upper Bollinger Band. to me, Parabolic movements like this are candidates for short selling, at least in the short term. (Note to yourself, write That parabolic scanner). This is what I see when I look at the intraday chart:
The second candle of the day (15-minute candlestick) gives A nice bearish meteor trade off. I go short below 36 points and stop the loss at the high point of the day.Again, this is If it wasn’t an alert, I might not have noticed. I am content to wait for it to consolidate or pull back in order to give me a long-term entry opportunity in the next few days or weeks, but this short-term opportunity is too good to give up. I considered covering when it returned to 33 points or more, but I will try to maintain 30 points.
note For these transactions, I don’t need real-time alerts. In fact, I think it’s better for me to see these in a slightly delayed manner. If I see BXC in real time, I might try to short BXC when it makes the first candle of the day.
I think these alerts are a good extension of why I originally built SwingTradeBot.I want it Watch a lot of *my* stocks for me and let me know when they do something interesting. So far, I am very satisfied with them.