Forex Trading Alerts

Written by Jacey Harmon
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In the 24 hour Forex market, alerts are very useful for tracking your trades. An alert will be able to "alert" you as to when your profit or loss targets have been hit. With an alert you will be able to hit your trades when you need to. Ideally, they will help reduce or eliminate missed opportunities and profits.

Trading Alerts for the FX Market

Just like any other type of financial market, the FX market is highly liquid. In fact, the currency market is the most liquid markets on Earth--over $1 trillion daily volume. This heavy activity translates into hundreds of opportunities for trades every day. With the 24 hour market, opportunities can occur any time day or night.

In order to capitalize on as many opportunities as possible traders use alerts. Alerts allow traders a little freedom to leave their computer. Some premium alert services allow you to have alerts sent directly to your cell phone or pager. For the most part, however, alerts will either be sent to your e-mail or through your trading platform.

Companies that offer trading platforms have built alert services into their platforms. You can set an alert to signal when a trade has been executed. If you have a stop/loss order set, an alert will be sent if the trade is executed. Some platforms also allow you to set alerts when market prices are hit. These alerts can be programmed with sounds assigned to each price target. When your alert is hit, the program sends an audio signal through your computer's speakers. Just make sure you have your speakers on so you don't miss your alert.


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