Punxsutawney Phil, a very famous groundhog, predicted an early spring this year and that has many who weathered the Polar Vortex excited. Here at TradeSmith, we’re excited, too. So excited, in fact, that we’re starting our spring cleaning early. You can join us on this venture, and we think it will really help you in the long run.
Let’s get started!
TradeStops and Crypto by TradeSmith
Our TradeStops and Crypto by TradeSmith alerts come with limits, depending on the subscription you have. At some point, you may have received notice that you’ve reached your alert limit. This can be frustrating, but we do it for a specific reason.
Your alerts should act as your call to action. You set them up according to your preferences to notify you to do something once your alert criteria have been met.
Receiving too many alerts can become noise, though. You will receive the alert email from us, but if you’ve been receiving too many alerts, you might ignore it or it might get lost among the other alerts hitting your inbox.
This could lead to losses or even missed opportunities. And no one wants that to happen.
To clean up your alerts, here are a few things you can do:
- Delete duplicate alerts
- Remove alerts once they trigger
- Don’t set up alerts you don’t need
How do I find out if I have duplicate alerts?
You’ll find this from the Alerts tab in our programs. There, we’ll provide you with the list of alerts set on your various positions.
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In the example above, you can see that we have 2 alerts for both Apple and Macy’s. The alert description, however, shows us that Macy’s has two different alerts (SSI and a trailing stop) while Apple has two SSI alerts.
Removing Triggered Alerts
There’s no reason for us to have two SSI alerts set for the same position. The SSI looks at how the position is performing in the market. It will change states regardless of which portfolio holds AAPL, for example. So, in this case, you could remove one of the SSI alerts.
We also mentioned that you’d want to remove alerts once they trigger.
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In the screenshot above, there’s a purple bell icon showing for Macy’s. This means that M triggered its 30% trailing stop alert. If you planned on selling Macy’s, you could then remove that alert.
You can choose to have alerts automatically removed from the Settings area of TradeStops.
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Just know that if you choose this option, you won’t get emails about alerts after the initial trigger. You would need to commit yourself to acting on the alert as soon as it triggers. If you prefer to perform some additional analysis before acting on your alert, this is not the option for you.
The Alerts in Our Program
We offer quite a few different alert options.
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It can be tempting to add a few of these alerts to each of your positions. But — do you truly need them all? When setting up your alerts, keep your trading strategy in mind. If one of these alerts were to trigger, do you plan to act on it? If not, then perhaps it’s best to hold off on adding multiple alerts.
If you do want to add multiple alerts, try using Templates. They make adding multiple alerts to one position easy.
Upcoming Events
In just under a week, TradeSmith will host the best experts in the field for the Bull vs Bear Summit. They’ll give their unique insight on where they think the markets are going for 2019. Then, TradeSmith will provide his in-depth analysis to help you decide how to plan your financial journey for the year. You can still register via the button below.
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If you’re in the Orlando, FL, area, make sure to come see us at the Money Show. We’re there today through Saturday at Booth 307. Our team has some fantastic presentations lined up, and we’d love to see you there. You can learn more about the show here.
Bulletin Board
A short while ago, we asked some of our subscribers to complete a survey on Ideas by TradeSmith. We promised that one person would be chosen at random for a $1,000 credit toward a future TradeSmith purchase or maintenance fee.
When we called our winner, he told us he “never wins anything,” and he was so happy to have been selected. We’re happy for you too, Harry G. You’re a winner in our book!
If you want the chance to be a winner, too, check out our new survey for TradeStops users. Even if you have used TradeStops, but don’t currently have an active subscription, you can participate! Get started here and be sure to complete your submission by Wednesday of next week for the opportunity to win $1,000 in TradeSmith product credit (good toward subscription or maintenance fee on any product).
Speaking of opportunities, when is the most opportune time to enter the markets? Tom Meyer, our Research and Education Specialist, covers this in his latest educational article.
Venezuela has been in a downward spiral for years, gripped by hyperinflation, severe food and medicine shortages, and a full-blown humanitarian crisis. But what could this have to do with oil refiners? Read TradeSmith’s latest editorial to find out.
Signing off
There’s no harm in getting your spring cleaning started early. For TradeStops and Crypto by TradeSmith subscribers, this means taking care of your alerts. It can mean deleting duplicated alerts, removing triggered alerts, and ensuring that you are only using the alerts you absolutely need.
If you need help with this, our knowledge bases can help. Here is the Knowledge Base for TradeStops and for Crypto by TradeSmith. There are entire sections dedicated just to our alerts. They both are great resources.
And, as always, you can email us any questions at [email protected]. We’re always happy to help you, and we’ll usually get back to you within one to two business days.
Until next time,
TradeSmith Customer Success Team
