The Hidden Tool of TradeStops
If you hold a position in Nintendo, (NTDOY), you’re no doubt aware of its new game, Pokemon Go!, which added over $11 billion to Nintendo’s value in little more than a week.
If you don’t hold any NTDOY, then you probably aren’t too concerned about a game that’s all about finding hidden things.
However, there’s a powerful tool hidden inside TradeStops that you definitely should know about if you’re not using it.
We’re talking about the Templates.
With TradeStops Templates you can quickly create your own custom alerts on the stocks you own. This allows you to save time and be more efficient in monitoring your investments. And you can set up any number of alerts for stocks and options.
Here’s how to access the Templates.
From any page on TradeStops, go to the upper right hand side of the screen and click on your name.
This opens a dropdown menu. From here, click on “Templates”.
By the way, the Templates feature is available for Lifetime, Premium, and Plus members. Here’s what you’ll first see when you open the page.
Have you ever wondered why new trades default to the SSI Alerts? We’ve set the default setting for SSI Alerts. You can change the default to a 25%, 20%, or a 15% trailing stop. Just click on the button you want.
Now, here’s where the fun begins. Maybe you prefer to use a VQ% trailing stop. Templates makes that easy to do.
Click on the green “Add Template” button and it opens a window that looks exactly like the window you use to set up alerts on individual stocks.
On the left hand side, click on “Trailing Stop”, then click on the VQ button, then click on “Add Alert”.
You always need to name your templates. In this case, we named it “VQ Trailing Stop”. Then click “Save”. And here’s what it now looks like:
If you want the default trades to be VQ% Trailing Stops, all you have to do is change the “Default” button and you’re set.
Many of our members use sophisticated alerts in their Templates for both stocks and options.
More active traders like to look for certain actions that take place to alert them of a condition that they believe is very advantageous. One of these is when a shorter moving average crosses a longer moving average.
In this example, we want to be alerted when the 50 day moving average crosses the 200 day moving average by 2%. Here’s how we set up that alert in the Templates.
On the left hand side of the window, click on “Vol & MA”. This is for alerts based on Volume and Moving Averages.
At the bottom of the center section is the place to set up the “Moving Average Crosses” Alerts.
Do you see how easy it was set up a 50 Day Moving Average that is 2% Above the 200 Day Moving Average? Be sure to click on “Add Alert” and then give the new alert a name and click on “Save”.By the way, this type of Alert is called a “Golden Cross”. Here’s what it now looks like:
Let’s put this into action now. I am interested in buying the QQQ ETF, but want to wait until this Golden Cross occurs.
Here is what it looks like when I add the position to one of my Watch Lists.
At this point in time, we’re only watching this ETF, but you can see that we clicked on the “Golden Cross Alert” from the dropdown menu of Templates.
So whenever the 50 day moving average of QQQ crosses the 200 day moving average of QQQ, we’ll get the alert automatically sent to us.
FYI, there is a lot of information on this in the TradeStops Help Center. Here’s the link: Templates Help Center. And this is what is on the page:
We recommend that you create some watch lists of your own. Do a little experimenting with the different kinds of alerts you can set up using this powerful tool.
It definitely has the opportunity to be more interesting, and more profitable, than playing Pokemon Go!
Regards,
Tom Meyer
