I used to stare at the stocks on my watchlist to wait for it to rise or drop to a certain level to enter the stock. Staring at the computer screen can be very tiring. And if you are a swing or position trader, you want to be able to be away from the computer and still make some money. Staring at the screen are for full time traders or day traders.
In order to save your self time and the need to look at stocks, you need to make use of technology and let it monitor stocks for you. One good way is to set up price alerts.
You key in a price, and the computer will alert you when a stock goes above or below the price.
Below is a screenshot of the stocks that I have instructed my broker to alert me when a stock goes above or below a certain price which will trigger a possible setup for a trading strategy. I sit back and relax doing other things while the stock trades to my desired entry price.
In order to save your self time and the need to look at stocks, you need to make use of technology and let it monitor stocks for you. One good way is to set up price alerts.
You key in a price, and the computer will alert you when a stock goes above or below the price.
Below is a screenshot of the stocks that I have instructed my broker to alert me when a stock goes above or below a certain price which will trigger a possible setup for a trading strategy. I sit back and relax doing other things while the stock trades to my desired entry price.
Most brokers or charting packages or website will allow you to do that. Some will play a siren sound on your computer to alert you while some will send you alert on your mobile phones. Make use of technology!