Monday, September 3, 2007

Discovering Price Alerts

Okay, so I'm no genius. However, I am admittedly a rookie, so that is no fault of mine.

Anyway, I've just discovered the joy of setting price alerts. I can have my system play a wave file when one of the items I'm interested in arrives at or crosses a certain price point.

The value I currently see in this is that it can alert me to a situation that might represent an opportunity. When the alert is sounded I can then focus my attention on recent technical issues and see if a decision to buy or sell will be appropriate at the moment or in the near term future.

For example, I've set an alert on EURUSD at 1.3610 as I think it might indicate an impending short term buying opportunity.

Oh, I should also mentioned that I've found out how to close a certain position, though it is so obvious I'm embarrassed that I didn't recognize it right away. You simply click the "close" column on your list of open positions, duh.

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