• How I really feel about trading alerts…
• My favorite software for day traders…
• And if you want to work with my mentor, you’ve gotta start here. 

Trading alerts can mean the difference between great trades and frustrating FOMO. I can’t tell you how many times I’ve stepped away from my computer and missed a trade.

When used correctly, alerts can help you make the right trades at the right time. I think they can even make trading easier overall. Today, I’ll tell you all about it. 

What Day Trading Is Really Like

Day trading can definitely be exciting — but sometimes it’s downright boring.

The patterns I play happen fast. Though I’ve been working on improving my swing trading over the last few months, day trading is still my bread and butter … so I’ve gotta be nimble. 

When I’m trading, it’s all about waiting for the right setup. I find a stock that looks bullish, and then I wait … and wait … and wait.

Sometimes the stock gives me an opportunity to profit. Sometimes it doesn’t. That’s just the way it goes.

When there’s an opportunity, the window’s usually only open for a few seconds. You go from 0–100 pretty quickly. The most important part is staying dedicated and focused on the stocks. 

Staring at the computer all day can be exhausting. And the more tired you get, the harder it is to pay attention.

What to do? Read on…

How to Watch Stocks Like a Pro

Even if you’re not a full-time trader, you need to know how to reduce screen time without sacrificing vigilance. Follow these tips…

• Create a thesis for each potential play. Why are you watching a stock? What do you like about it? What don’t you like? Check out the Sykes Sliding Scale if you don’t know what to look for.
• Make a trading plan. Plans can change. But try to work with what you’ve got. Take note of possible patterns, support and resistance lines, and risk/reward ratios. Never trade without a plan!
• Set alerts at key levels. If you’re a long-biased trader, set an alert to sound when the price trades above a certain level. The opposite goes for short-biased traders.

Once the alerts are in place, I can use my screen time to search for new plays or take a break from the charts altogether.

I’ll stay close to my computer in case an alert triggers, but I don’t have to stare at my screen all day.

Where to Find Alerts

There’s a lot of trading software out there with options to set up alerts. My vote: I think StocksToTrade has the best charts and alert options.

Tim Sykes helped create the platform and designed it specifically for day traders. This tool has truly made a difference in my trading. 

If you use different software, that’s OK — but make sure you know how to use the trading system to your advantage. Work harder, not smarter. Technology’s here to help if you know how to use it.

Final Thoughts

There are a ton of trading tools that can potentially help your profitability — alerts are just one of them. But for me, they’re a big one.

Imagine how frustrating it would be to watch a stock all day, then miss the play because you stepped away for a few minutes. I’ve been there, and it hurts. 

Do your best to prevent those situations. Traders with winning mindsets prepare for every scenario. I want you to do the same. 

Trade like a millionaire, 

Roland Wolf

Editor, The Wolf’s Den