Here’s a quick video on how to set alerts in TradeStation.
You can create an alert for any kind of study or drawing.
REMINDER: Tomorrow is FOMC day so the markets may be a bit wonky.
I’ve already called it for the day. 👍🏼
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[…] Jim asked about the 1-minute chart on yesterday’s video… […]
I noticed on today’s video that you have added a 1 minute chart. Do you this often or in certain conditions?
Ah yes, that one is the tick index for the Nasdaq (the $TIKQ). Sometimes the Russell tracks along with the Nas so I wanted to see if the ticks would match up with my entry points and exits. So far, it’s still above my pay grade. 😉
Hi Mindie,
This is very helpful for me, thank you.
All the best.
Ricardo
My pleasure!
As you noted, the PSAR often lags well behind a turning point. On this little experiment, if you get short on your alert, where will you set your stop, initial and ongoing?
What I meant was not so much exactly where you would put your stop, but how you go about thinking that through.
Hey Rob, with a smaller account, my goal is to get into profit as soon as possible. While that limits my ability to give it enough space to move sometimes, it also keeps my losses really tiny.
That being said, I’ll usually trail a stop with a 2 minute P/S until it’s profitable, then I can let the higher time frame P/S’s catch up. So what typically happens is if I catch a decent trend, I’ll end up using the higher time frames, and if the market turns around, I’m out with either a small profit or a small loss.
Does that make sense? 😆