Most traders are worried about missing a trading opportunity – who would want to miss a new 52-week low, a 10-day upstreak, or an unusually volatile trading day? So you go to a screener page every morning and see if any of the symbols you are interested in did anything interesting. You stress out if you forgot to check the screener, you refresh the page endlessly in the hope of being the first to the action.
Or, if you’re advanced, you can set up a custom alert in your MT4 terminal. This works, but is very limited – you will need to have the terminal running 24/7, and the process to set it up is very involved, especially if you want to be alerted via email. One way to solve it is to rent a virtual private server, or a VPS, where an MT4 terminal will run continuously. But the costs that come with renting a dedicated server can be steep, so most traders don’t bother.
But what happens when you do get an alert but not sure how significant it is? How do you know if it’s a worthwhile opportunity to trade? How do you find out if this event is rare at all? Unless you are an advanced trader with a fully developed and tested strategy and have everything figured out, you will need some context to make sense of the information.
PsyQuation Market Alerts suite is aiming to solve both of those issues – to stop traders from stressing out over their fear of missing out and keeping them informed about the probability edge of a certain event.
With this service, you will be able to subscribe to custom technical analysis alerts from our growing list and get alerted when these conditions are met. The service runs on our service and looks at over 100 instruments 24/7. Once the conditions for the alert are met, you are notified via your preferred channels – in the app, via email, or via SMS.
You can subscribe to a condition (e.g. new 20-day high) for instruments that interest you, and you will receive an alert each time the condition is met for that symbol. No need to stress out or keep checking your watchlist – if something happens, you’ll be the first to know.
But the key part comes next – you are presented with information about all the times this alert was triggered in the past, what lead up to it, and, of course, what happened after. So if you see that every time a particular symbol had a 5-day up streak, it fell the next day, that might just be a good opportunity for a trade reversal. You are able to see if there is an edge to this situation by looking at the previous times an event like this happened. You will see a bar chart of the price action before and after the latest events, as well as a summary of what happened on a longer time scale, up to 1 year from an event, which is useful in case of rare major events. All of this gives you the edge you need to appreciate a trading opportunity.
Knowing the probability of a trade setup, i.e. when certain price action matches a predetermined set of conditions, will help provide you with confidence about the likely outcome of such a trade in the future. Don’t get caught up in the hype created by people making empty statements or posting colorful charts without research to back it up. Rather rely on our platform that has done the homework and provides you with an insightful statistical summary of what you can expect to happen based on the outcome of events in the past that meet the conditions of the alert.