You can create alerts to tell you about price movements, chart patterns and more, by email, SMS or push notification
Automated alert systems can both keep you aware of new potential spread betting opportunities and help you decide when to edit or close existing positions. Used correctly, they make it possible to spread bet and manage your positions even when you’re busy doing other things.
By setting up alerts on your spread betting platform, you should be able to react immediately to market events as they happen. Depending on what facilities your provider offers, you may be able to create alerts to tell you about economic data releases, price movements, chart patterns and more.
You may be able to choose to receive alerts in various ways – for example by email, SMS or push notification on a mobile device, meaning that you don’t need to be logged in to the spread betting platform to get them.
Economic calendar alerts
When countries release data on their economies or companies report their latest figures, the news can have a profound effect on market volatility. Price movements can be particularly dramatic if the figures are significantly higher or lower than analysts’ forecasts.
Depending on your point of view and your attitude to risk, these periods of extreme volatility can either be exciting opportunities for spread betting or risky moments to avoid. Either way, you need to be prepared for them.
Spread betting platforms often include an economic calendar, where you can view the schedule of upcoming announcements. In addition, your provider may enable you to set up alerts from the calendar so you can:
- Get advance notice and reminders of scheduled data releases
- Receive figures as soon as they are published
- Be notified when markets experience significant movement after an event
When a market hits a particular price, you might feel this could be a good time to open or close a position. In this situation, you can set up an alert to let you know when that price is reached.
Unlike stops and limits, which automatically open or close bets when the market hits your chosen price, alerts simply tell you that the price movement you were watching for has been realised by the market in question. This gives you the opportunity to reassess the situation and make a decision on whether or not to deal. For example, you might want to take into account factors such as the latest news bulletins and analysts’ reports, as well as simply the price.
When you’re using charts to spread bet, some specialised features may be available.
Your spread betting provider may offer the facility to create alerts based on various technical indicators of your choice, or to set up alerts when particular chart patterns form. These are usually considered advanced features.
Monitoring positions on the move
Creating alerts will keep you informed about significant movements in the markets, but of course you’ll also need access to your spread betting platform wherever you are, in order to act on that information.
You can do this by spread betting on mobile apps.
And for the times when you’re offline or simply not available to spread bet, you can use automated spread betting technology to keep things running for you.
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