The Stock Alarm is Your Friend
Perhaps even your best friend, especially if you are working another job while trading. Let’s be realistic, for most of us sitting directly in front of our computer all day looking at stocks is probably not realistic. I say probably because I know there are those that can but for the rest of us with jobs, children or other obligations it’s nice to have a little help when we are away from the computer so we don’t miss that perfect buy point we have been waiting for. They are also a great tool to use once in a play. Instead of watching a stock all day one can set an alarm to alert them when a stock is almost to their sell point and one to alert if a stock gets into serious trouble and may need attention.
So what is a stock alarm? Simply put it’s an alert that will notify the user if a particular stock passes through a specific price point. Stock alarms are available from charting software, websites and phone apps.
Smart Stock is a great Android app. It allows you to not only set stock alerts but much more including real-time stock data, financial and stock related news, transaction records and a currency rates converter just to name a few.
For the iPhone, Real Time Stock Tracker + Alerts is a helpful app for setting stock alarms. It is a free app but be aware that you must pay to have unlimited alerts.
Stock Alerts Pro is a highly rated iPhone app for $2.99. This app allows you to set alerts based on price, percentages or even volume. They also have 20 custom alert sounds with anything from the Jeopardy theme to the Wall Street Closing Bell.
My favorite place to set a stock alarm is using TC2000. It’s a real-time stock charting software with a monthly subscription fee. It is simple to set an alert with TC2000. There is a little symbol that looks like a red alarm clock above any stock or index. Just click that and scroll down to “Create Price Alert.” A box will pop up with several fields to customize. First enter an alert price followed by a choice of whether you want to be alerted just the first time it passes through that price or once every minute, 5 minutes, 15 minutes, hour or day. You then have the option to enter a description. The next part is my favorite because I get to decide what notification setting I want including any cell phones or emails I want to receive the alert but the best part about this is if I have my computer alert me then I get to pick a sound. Anything from a door bell to a car honk to a whistle. Who said traders can’t have a little fun?
I’d be embarrassed to say how long I traded before I discovered the freedom and peace of mind stock alarms can give. I used to be glued to my laptop or phone all day until I realized how easy it is to set a simple alert. If you haven’t tried it yet don’t go another session without them!
How ‘bout you? Do you set stock alarms? What do you use to set them?