3309 Drysdale Ct
Edwardsville, IL 62025
Matt: How did you arrive at the Alarm price of $187.65 on
was obviously a typo which brings up points.
guys letting you know now, I'm probably going to get rid of
those alarm prices. The alarms are triggered by delayed data.
I looked into real time data, the cost is ridiculous it's like
$5000 a month!!! That's crazy town and not worth it for me to pay
that. Hence why we use the delayed data. But here's the thing,
because it's delayed we set the alarm prices BELOW resistance like
10 or 15 cents trying to account for the delayed data. However it's
al for not and because delayed you can't rely on those. No one
should rely on the pop out alarms. You must set alerts on your
Also it's extra work each night trying to input those prices for
each one and change them all the time. the typo on PYPL is an
example, Steve and I after making these newsletters, recording for
30 min, then we have to go in and input all those alarm prices at
the end, we are hurrying because we want to be done as we just
spent hrs doing the newsletter, so easy to make typo
thus I think it's in everyone's best interest that we kill those
alarms. Again you'd still have the trade idea list like you see it
now, just now the alarm prices and the pop outs.
remember pretty good sell off this morning but for now QQQ's
down the least and AAPL, AMZN, GOOGL, FB all report tonight. If
they beat strongly well then maybe market goes up again, if they
disappoint well maybe we start that correction into Aug.
Thanks for the explanation! Eliminating alarm prices is a
since right now we are not emailing out real time buy and sell
alerts the trade ideas should be considered that open ended trade
ideas that can be traded in a variety of ways depending on your
style. One can buy when price breaks through resistance, or buy
early inside the pattern near a support, or a combination or
whatever. The alarm prices being delayed by a good 20 min confuses
people and that's also why many times 20 or 30 min after the market
opens you see 10 alarms at once - because they all triggered on the
open and the delayed data didn't catch up for 20 or 30 min.
Seeing an alarm price also causes people to focus on that I
think vs actually looking at the chart and seeing a trigger
themselves, which as I stated above can be a variety of triggers,
not just one price
the other thing to point out we can only set alarm prices for
longs at resistance, we can't prices for a support. And as we
always say these are trade ideas, look for early triggers inside
the pattern, all sorts of things. If I put an ascending triangle or
coil, I don't want people to only look for longs at the break of
the upper triangle, but also inside the pattern or near the lower
the alarms are also a constant source of confusion by any new
members who think they are buy and sell real time alerts sent out
by us vs just trade ideas with an alarm
I agree on stopping the alarm prices. I don't use them either. I
set my own alarms because I'm trading MY PLAN (hat tip: Steve).
As we've stated ad naseum, the best thing to do is to set your
OWN alarms on your quote system. More importantly, have a
plan and focus on what you plan to trade instead of jumping around
Thanks for the explanation. I don't have Stockcharts so I just
redraw your lines and set alarms on ToS. Seems to work okay for me.
I'm for anything that makes your jobs easier.
Subscribe to our email list for regular free market updates
as well as a chance to get coupons!