I recently hit the limit of alerts on both Binance and TradingView because I rely on them so heavily. If you’re not using alerts yet, you should be—here’s why they’re essential.
Why Alerts Matter
Alerts allow traders to monitor market movements and respond quickly to key changes. For me, price alerts are essential, with volume alerts occasionally added to catch sudden shifts in trading momentum. On TradingView, you can even set alerts on indicators but I rarely do this. In a volatile market, these alerts help capture timely entry and exit points without being glued to the screen.
Benefits of Using Alerts to the Max
Alerts let you manage trades effectively without constantly watching the market. Well-placed alerts ensure I don’t miss the key levels and moves I’ve been tracking, allowing me to make informed decisions quickly.
Practical Tips for Setting Alerts
1. Define Key Levels: Use alerts to monitor essential price levels or volume changes. Focus on support, resistance, and breakout points to stay ready for major moves.
With altcoins I rarely buy them right away, instead I read chart and set alerts at levels I think are good for buying/selling - and then I patiently wait for days or sometimes weeks. It is almost like putting a stop-limit order without locking actual funds.
2. Avoid Alert Overload on a Single Chart: It’s tempting to place multiple alerts on a single asset, but that can lead to distraction. Instead, spreading alerts across different assets allows you to monitor several opportunities without constantly switching between charts.
E.g. alerts help me track moves of more than 30 alt coins - remember, I believe in diversification more than in luck.
3. Review and Adjust Regularly: Markets change, so your alerts should too. I often add a new alert when a previous one fires, to mark a level where I’d like to buy more or sell.
In Conclusion
Price and volume alerts have become essential to my trading approach, giving me both flexibility and confidence in a fast-paced market. If you haven’t set any yet, start with key price or volume alerts and see how they can enhance your strategy and boost your productivity.
