Price alerts: do beginners need them, or do they feed the addiction?

Alerts fire when price reaches a level, so you don't have to watch the screen. Set up well, they support patience. Set up badly, they pull you back to the chart all day.

Price alerts: do beginners need them, or do they feed the addiction? — support and resistance diagram
Price bouncing between support and resistance

What's your experience?

  • which alerts you actually use
  • whether alerts made you trade more or less
  • one alert setup you'd recommend to a beginner
Price alerts: do beginners need them, or do they feed the addiction? — risk-reward diagram
A risk-reward ratio of 1 to 2

A useful beginner exercise: set alerts at your planned entry and stop, then close the platform until one fires.

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