Creating a SELL ALERT 🚨
Help Protect yourself from yourself!
Now I’ve mentioned before about how tone of he best way to protect yourself from missing out on Exit Points is with OCOs and Stop Losses, but even I sometimes forget to set these. Also, there’s no order type to sell a stock when the RSI hits 70, it’s just not a thing.
So in order to protect myself from myself, I made al alert in StockCharts that will notify me when any stocks on my “Current Holdings” watchlist either begin a Stage 3 Decline OR get near 70 RSI (I set it for 68 just to get an early heads up).
First, I setup a Watchlist that contains all my current swing trades, you can name it whatever you want, I just went with “Current Holdings.” It’s important to update this regularly and add new positions when you enter a trade as well as delete old ones after you fully exit a trade.
Then, I created the following alert. I used to have two separate alerts for my “Current Holdings” watchlist, one for the Stage 3 Breakdown and one for the 70 RSI but I decided to try and merge the two of these using the “OR command” just to streamline everything and consolidate my alert notifications.
Easy copypasta version:
[ [[today’s EMA(5) > today’s SMA(20)]
and [today’s close < today’s SMA(20)]]
or [RSI(14) > 68.0] ]
and [favorites list is 64] // * CURRENT HOLDINGS *
NOTE: Your favorite list number will vary, be sure to add your “Current Holdings” list via the Alert Components menu at the bottom of the Workbench (see below):
Hopefully this Alert formula will help protect me from… me! 😜
Trade long and prosper!
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