The IQ Option platform has gained many enthusiasts thanks to its extensive and mature platform. The trading interface was simple and very intuitive from the very beginning. The platform itself is being constantly developed and subsequent updates continuously increase the capabilities of the platform. In this tutorial, we will discuss Price Alerts. This is a relatively new feature that will make your everyday trading easier.
Why Price Alerts is a valuable addition to the trading platform
Sometimes it can be tiring to watch charts. Professional traders spend many hours a day in front of them. Does this mean that you have to look at the open chart all the time? Of course not. Apart from the health of your eyes, this time can be used more effectively. In the meantime, you can learn new trading techniques, read market news or introduce entertainment, for example by playing online chess with your friends. However, if you don’t get back to the chart in time, your trading opportunity can be simply missed.
The worst thing you can do is to enter the trade when it’s too late. There is a saying that you should not get on a moving train and in the case of trading, it is very true.
In order not to lose investment opportunities you can use price alerts. If the price reaches the level you have set, you will be automatically notified. This will allow you to react to the market situation in time.
Price alerts are especially useful if you use price action. With alerts, you will create an early warning system. The platform will inform you that the price is reaching an important support or resistance level.
Once a week, for example on the weekend, you can make a broad analysis of the assets you are trading. You can determine major support and resistance levels, barriers to a rectangular price pattern. Such an analysis made at higher time intervals (such as H4 or daily) will be very helpful in the upcoming trading week. All you have to do afterwards is to set the price alerts accordingly. This will save you valuable time and you will not miss any more profitable trading opportunities.
Setting Price Alerts on the IQ Option platform
Adding new price alerts is very intuitive. As you navigate the crosshairs through the chart, you will quickly notice that an alert icon appears on the price axis to the left of the price. So just move the cross to the price level of the alert and click the icon. The alert will be automatically added.
It is also possible to edit the previously set price alert. To access the alert settings, click on the multi-dot sidebar icon and select “Alerts” from the menu.
From this level, you can create a new price alert and edit or delete an existing one.
Price Alerts at work
If the price reaches a pre-set alert level, you will be automatically alerted visually and audibly.
If you are using a smartphone app, you can also use this feature. The IQ Option platform on your computer synchronizes in real-time with the mobile app. If the price reaches the alert level, your phone will also signal it with a sound and a notification that precisely states the time, instrument and price that has been reached.
Open a demo account on IQ Option today, trade and test new features of the platform.
We wish you all the best.
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