Having a hard time building that perfect Alert Window in Trade-Ideas? Does it take you all day to build one Alert Window but when you backtest it, the results are bad? Look no further as I show you 8 tips and tricks to help you make those alerts faster and better. If you haven’t already, make sure you check up on How to make AWESOME alerts before reading this!
1. Stocks Like This
Your favourite stock gaps up comes back down and does a perfect bull flag pattern. But how do you get ALL the details of that stock? Trade-Ideas has a built-in tool that shows you EVERY alert and filter of a particular stock at the time frame you set. Click this link to go to their site and test it yourself. I’d recommend finding 3-4 different stocks on different days that did your PERFECT trade setup. Then aggregate the data together and build the Alert window of your dreams.
2. No more ETF, please!
Get rid of those ETF’s from your alert windows. ETF’s are tricky to trade since at any point the owner of the ETF might rebalance the portfolio to meet its specific criteria. If you want to filter these out, simply do this little trick:
Add the filter EPS, and set the values as Min 0.01 and Max -0.01. This will make anything with an EPS of 0.00 not be triggered in your Alert window. ETF’s have a value of 0.00 in Trade-Ideas.
3. The Power of Symbol Lists
The Symbol List option in your Alert Window can greatly help pick and choose what to trade… or how I like to use it, what NOT to trade. In my backtesting and in the past performance of my trades, some stock just don’t follow the general trading rules that we usually see. I create a symbol list (Tools > Symbol List > New) and add each ticker on 1 line that I do not trade. I also have some of my automated strategies that look for gaps every day and trade those ones if the volume is high enough. Unfortunately, there are some stocks that gap EVERY day (example BUD). I don’t want to trade these stock. So I create a list for that too. Then in this window, I tell my alert to never trade these stocks.
4. Don’t forget the Columns
This one can be overlooked simply because most people just want to see the ticker, the date and time of the alert. But every filter that’s available in Trade-Ideas can be used as a column in the actual Alert Window. Use this to your advantage to get extra information that you can use to improve your trading.
5. The Summary Review
This one is pretty neat. Not only can you give your awesome Alert Window a cool name, but every filter you used in the alert will come out in simple plain English. This is a great chance to make sure that your Trading Plan and your Alert Window are saying the same thing when you are planning on converting this Alert Window into an automated strategy.
6. Flip Flip Flip the Alert
Made an awesome bullish alert? Great but you can trade the markets both ways. First right click your Alert Window to duplicate it. Then right click to configure the newly created window and use the flip tool that’s at the bottom and Trade-Ideas will automatically convert your awesome bullish alert into a bearish one. If you backtest it you might need to make some modifications but most of the hard work is already done.
7. Save and Share to the Cloud
When you create your Trade-Ideas account, you get a personal cloud space to save all your work in. If you right click your alert and then save to the cloud, you can access this alert window on any computer you can log in to. So if you are working from your laptop in your hotel room, or on your trading computer at home, you can easily save and manage your alerts from the cloud and never have to rebuild them on each computer. The cloud feature is quite powerful and can save your entire layout including any custom settings and your strategies you might be using in your Brokerage Plus.
8. Share those Windows
Everything on your cloud can be shared if you provide the sharing link. If you are in a community of traders and you want to share various windows of Trade-Ideas you can easily do this by the cloud. This is the preferred method of sharing since it will also share any settings that you are using for when you use the OddsMaker Tool.
Hopefully, there are some neat tricks you learned from here. If you have more great tips you’d like to add simply let me know and I can add them!