Using Alert for Fun and Profit

New comment
 

I am a long time member of this forum, I have gain a lot from this site so I thought I might make a small contribution by posting this idea which I am using very successfully. I hope I can help someone.

How to use Alert to you benefit part 1

A lot of people are paying for trading alerts and most are losing money not only on these useless alerts, but most importantly the way they trade these alerts.

I was fortunate to meet a few mentors that showed me the best way to trade alerts. I am going to share with you some of the ideas and how I manage to make money on alerts even when these alerts were bad.

Alerts are only speculation. They are not to be taken seriously like a lot of people do. If you know how to use them you can turn even bad alerts into good alerts. As long as these alerts follow trends pattern, you should be fine.

You can do this for free or you can pay for the alerts provider. I like free so I would ask you to find a free alert provider.

Here are the steps to follow:

    • Find an alert provider that provides good alerts base on trend
    • Select the pairs that you want to trade. (Please, use one of 2 pairs. You do not want too many pairs)
    • Compile their alerts for at lease 3 weeks to one month. In order for this to work you need data. (It doesn’t matter if the alert makes money or not. As long as the price move in the alert direction within 36 hours and alert did not reverse pass 200 pips, you are fine)
    • Create a spreadsheet of the alerts.
    • Find a good support and resistance indicator
    • Finally, use the MACD

    Once you have these tools, you are ready to start

    Now let’s consider some facts:

      • We know the market moves base on the long, short and intermediate term trend.
      • We know the market moves in one direction at the time.
      • We know the market move by creating a zigzag motion as the trend progresses.
      • We know after every major advance, there is always a major pullback

      In the second part, I will explain what to do with the alerts.

       

      To use this tool effectively you need to have a robot. It doesn’t matter if the robot works or not. As long as the robot can take trade and has trailing stop, stop loss, take profit function you are fine.

      Now here is the important part:

      Once you receive your alert, make sure to analyze the pair for the following:

      1. Is there any major support or resistance close to the entry

      2. If this signal in the direction of the main long term trend or is this a pullback.

      3. When was the last time a signal was received to sell or to buy this pair?

      4. What was the outcome of the last signal?

      Use the following guideline:

      1. You do not want to sell above any major support line and you do not want to buy bellow a major resistance line.

      2. You need to only trade in the direction of the current trend. Do not take quick reverse trades.

      3. If a signal was received earlier to sell a pair and that signal was positive, wait for a pullback before getting into a new the trade. Same concept for buy position as well.

      Now that everything looks good. Grab your robot and place it in the pair making sure to set it to only trade in the direction of your signal. Do not set it to SELL/BUY at the same time.

      I use the 3rd candle robot with this strategy with great success, but you can use any of your favorite robots. The concept is the same.

      Please, try this and let me know what you think. You can use free alerts from my site.

      New comment