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Today you will learn how to set price alerts. 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.
Key Takeaways🔑
| →Price alerts help you stay informed about potential trading opportunities without constantly monitoring charts. |
| →Price alerts are particularly useful when trading using price action and support/resistance levels. |
| →Setting price alerts on the IQ Option platform is simple, and the platform synchronizes with the mobile app for real-time notifications. |
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.
How to Set 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.
So you already know 2 ways how to set up price alerts. So let’s move on to how they work.
Pros and Cons 📈📉
| 👍Price alerts help save time by reducing the need for constant chart monitoring. |
| 👍Allows for more efficient use of time, including learning new trading techniques and staying updated with market news. |
| 👎Price alerts might not be suitable for traders who prefer to actively monitor charts in real-time. |
| 👎Reliance on price alerts alone may lead to missed opportunities if not combined with other trading strategies and tools. |
| Trading Strategies | Benefits |
|---|---|
| Price Action | Helps identify potential entry and exit points based on price movements. |
| Support and Resistance Levels | Assists in recognizing crucial price levels where the asset’s price may reverse or consolidate. |
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.
Today you learned how to set price alerts on IQ Option. We encourage you to use this feature as it is very useful and saves you hours of sitting in front of a chart. Open a demo account on IQ Option today, trade and test new features of the platform.
IQ Option Wiki wishes you all the best.
Q&A 📚
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- Q: Can I set multiple price alerts on different assets?
A: Yes, you can set multiple price alerts on different assets simultaneously. - Q: How do I delete or modify an existing price alert?
A: Click on the multi-dot sidebar icon, select “Alerts” from the menu, and edit or delete the existing alert. - Q: Can I receive price alerts on my smartphone?
A: Yes, if you have the IQ Option mobile app installed and synced with your account, you will receive alerts on your smartphone. - Q: How do I know when a price alert has been triggered?
A: You will receive a visual and audible notification on your device when a price alert is triggered. - Q: Can I set price alerts for different timeframes?
A:Yes, you can set price alerts for different timeframes by conducting analysis on multiple time intervals and setting alerts accordingly.
- Q: Can I set multiple price alerts on different assets?