This post was contributed by a guest author, and does not necessarily reflect the views of Richard or MovetheMarkets.com
Trade Ideas printed 3 new high alerts on TIE, a stock that popped up on my daily scan, that I wasn’t really familar with. I quickly checked the chart and it looked like a break out on 2X average volume. It ended up being a quick .20 scalp ($400) because it faded just as fast, but still, it was like free money.
Of course its not always that easy, but without Trade Ideas these kinds of trades would be hard to find. The alerts need to be filtered, but at least I get the chance to know what is moving.
When I first started using it, I didn’t get it. Now it makes up a big part of my trading day.
Another use is to give me a general feel of the market. If I’m getting alot of prints up or down, out of the blue, I know a market change is happening, that I would not pick up any other way for 5 mins, or sometimes later, or never, as tunnel vision on a few stocks sometimes hides the overall market action from me.
It often acts as a whack in the head.
- TraderD