Day trading is an excellent way to make money from the stock market. However, one of the most challenging aspects of day trading is probably pin-pointing lucrative trade opportunities.
This is because there are thousands of different stocks to choose from. Not to mention, it can be hard to stay glued to candlestick charts all day long looking out for certain patterns.
So, this is where day trading alerts services comes in. These are simply tools meant to alert you when significant events are about to take place (or when they take place).
Depending on the nature of the alert given, you can choose whether to open a new trade or close any open trades.
That said, finding a reliable trading alert service may not be as easy as you might want to think. For this reason, we’ve reviewed some of the best day trading alerts service in the market to help you narrow down your search.
- Top Day Trading Alerts Service Reviewed in 2021
- 1. Trade Ideas
- 2. Tim Sykes’ Alerts
- 3. Investors Underground
- What are the Different Types of Day Trading Alerts?
- Methods of Receiving Day Trading Alerts
Top Day Trading Alerts Service Reviewed in 2021
Without a doubt, there are many day trading alert services out there. Of course, they are not built equally. For this reason, most of these providers claim to be the “best”.
But as you know, that’s often far from the truth and so in this section we’ll shed more light on some of the most popular day trading alert services that we believe are really worth the hype.
1. Trade Ideas
Trade Ideas is one of the most popular stock scanner tools for day traders. Founded in 2003, the tool has evolved through the years to become one of the best day trading alerts services.
The platform is packed with many features to help traders scan through the market to search for profitable trading opportunities. Some of the features that make it an excellent day trading alerts service include:
One of its notable features is the Artificial Intelligence (AI) “Holly Grail” technology. It is one of the best innovations from this service.
This technology works by scanning through everything, including technical and fundamental data overnight. Consequently, it can provide you with the best results the next morning so you can beat the market. This helps save you the time you could have spent researching.
When it comes to trading alerts, the platform is equipped with chart windows. This feature allows you to validate alerts instantly without the need to leave the platform. This means that you can use one platform to view both the analysis and the trade alerts simultaneously.
The best part is that traders can access up to 20 chart windows depending on their subscription plan. Also, it is possible to add price alerts directly onto the charts you have chosen.
But you know what the best part is? The chart windows allow you to select between different time frames on when you would like to receive the alerts.
Besides the chart windows, Trade Ideas also provides alert windows feature to its day traders. This feature allows you to stream and even display different events as they occur in real-time. However, the events you get to stream are based on the alerts and filters you choose.
For instance, maybe you would like to see what type of stocks have made a new intra-day high. Well, to do so, you will have to create an alert for this particular event. And once the event takes place, the stocks will show up in the alert window.
The good news is that Trade Ideas offers a wide range of alert events to choose from. Some of these include crossed below/above the 200-day moving average, and % up/down for the day.
As if that’s not enough, the feature is designed to show you the exact time when the event took place. Simply put, it enables you to stream the data in multiple time frames.
2. Tim Sykes’ Alerts
There are so many benefits that come with trading penny stocks, although they are highly volatile. For instance, they are known to yield great rewards. On top of that, they have the potential to offer high growth in a short period.
That said, if you are into trading penny stocks, you might want to consider the Timothy Sykes Day trading alerts service. But who exactly is Timothy Sykes?
Well, he is a well-known penny stock trader in the online day trading industry. However, Sykes is famous for turning his Bar Mitzvah gift money into a seven-figure fortune through day trading.
Today, he runs an online trading platform, education service, and chat room to help other traders master the art of trading. Through his platform, Sykes offers three different subscription services. These include Tim’s Alerts, PennyStocking Silver, and The Millionaire Challenge.
However, currently, he offers two different tiers of trading alert services including:
Tim’s Alerts is an entry-level subscription service by Timothy Sykes. The service costs $74.95 per month, which is relatively high for new day traders.
Besides providing traders with real-time SMS, Email, and push trade alerts, the service also features daily access to the chatroom. In the chatroom, Sykes engages with his subscribers and updates on his latest watchlists.
What’s more? Subscribers usually receive Tim’s 5-10 stock watchlist of the penny stocks he is keeping a close watch on for the day. This happens every morning at 8 am. Also, you get to receive follow-up emails during the day within seconds after Tim has entered into a trade.
Additionally, Tim’s Alerts service also provides its subscribers with real-time profiDing trade alerts. This is designed to give traders a leg up on the penny stock market.
Penny Stocking Silver
If you are a novice in stock trading, we recommend subscribing to this service. The PennyStocking Silver service costs $149.95 per month. This is also relatively high but worth the money considering the rich features it offers.
So, what does this service has to offer? Well, you will be pleased to know that it includes all the features of Tim Alerts service. This means that you will have access to real-time trade alerts, watchlists.
In addition to this, it offers a great selection of trading courses, including weekly video lessons. So, if you are interested in shorting penny stocks, the silver plan is a good day trading alerts service.
3. Investors Underground
Investors Underground is considered to be one of the most popular trading platforms for day traders. The platform is managed by Nathan Michaud, a veteran online trader with many years of experience.
One of the reasons why Investors underground is quite popular among day traders is because it offers a complete package of services. But does it provide trading alerts? Let’s find out.
Active Chat Room
The chat room is one of the most valuable components of Investors Underground. It is made of thousands of day traders who are always willing to share real-time advice with others. This makes it one of the best scanning tools for traders.
In the chat room, you will also find live commentary along with real-time trade alerts from successful traders. On the flip side, though, the platform does not provide alerts based on buy or sell. This means that you will not get direct recommendations on what stocks to buy or sell.
Compared to other chat rooms from other trading platforms, the Investors’ Underground chat room is well-maintained. On top of that, there are moderators to assist the members.
More importantly, the platform also has chat rooms that are focused on penny stocks and swing trading.
Daily Watch Lists
As a day trading alerts service, Investors Underground provides a nightly watch list on daily basis. The watch list comprises top stocks for the upcoming day.
And to ensure you don’t miss out on anything, the watch lists are sent out the night before. This ensures you have adequate time to prepare just before the market opens. It also gives you time to come up with a game plan of your own.
On top of that, each watch list includes stock charts, rationales, and game plans. This is designed to help you understand why the stocks have been chosen.
What are the Different Types of Day Trading Alerts?
Trade alerts come in different types. However, depending on your trading edge, you need to determine which alerts best suit your trading styles. So, here are examples;
1.News & Economic Alerts
As the name suggests, these alerts inform traders of any significant upcoming economic events, such as central bank announcements. These events may have an effect on your positions in various financial markets.
News alerts also comprise breaking news reports, which could be related to economic, social, or political events across the world.
Getting alerted right before such news or announcements allows you to plan and prepare enough for your trading day. So, if you don’t want any surprises, you should consider day trading news alerts.
These types of alerts are designed to help day traders respond to price movements as they happen. Simply put, they notify you once a specified buy or sell price is reached.
You see, when trading, there are certain keep price levels you might want to keep an eye on. So, price alerts will let you know when your chosen stock’s price drops or hits resistance levels.
Consequently, this ensures you don’t stay glued to your screen monitoring the stock price yourself.
Of course, various day trading alerts services provide you with different price alert tools. For instance, some providers will let you choose between the following price alerts:
Percentage Change Price Alerts
Just as the name suggests, this type of alert will notify you when a stock moves by a certain percentage change. However, the change is usually from the previous day’s close. This type of alert comes in handy when you want to identify relatively big moves.
Exponential Moving Average (EMF) Alerts
If you prefer using technical analysis, knowing when an investment crosses the 50- or 200-day exponential moving average can be helpful.
An EMA is simply the average of a set of closing prices but over a specific period. So, you can set alerts to be notified when a stock crosses above or below its moving average. This provides you with potential buy or sell signals.
3. Technical Alerts
These are similar to price alerts. The only difference is that they allow you to respond to particular technical indicators rather than price movements.
Essentially, technical alerts are based on technical analysis. These alerts can be used with several indicators such as Moving averages, Bollinger Bands, and Exponential moving averages.
Most day trading alerts services allow you to create technical alerts by combining different indicators.
Generally, with technical alerts, you don’t have to worry about constantly analyzing price charts just for technical analysis. Also, you can forget about having to read fundamental reports all day.
Methods of Receiving Day Trading Alerts
Different day trading alerts providers have many ways of sending alerts to traders. However, the most common methods of receiving these alerts include:
1. Text Message, Email & Twitter Alerts
One of the ways you can receive trading alerts is via text messages or simply SMS notifications. This allows you to react to important market developments even while on the move. It comes in handy, especially if you have a day job.
Additionally, you may receive alerts via Twitter. But if that is not your cup of tea, you can simply set up email alerts. The important thing is to find a system that complements your trading style and enables you to act upon information as fast as possible.
2. On-Chart Trading Alerts
On the other hand, most trading alerts services provide on-chart alerts. You can receive on-chart trading alerts on your web-based trading platform when a specific event has occurred.
Generally, these alerts are usually in the form of pop-ups or a sound. That said, they are best suited for traders who prefer setting their alerts based on price action.
Well, there is no shortcut when it comes to trading. You see, trading alerts are just there to provide you with more trading ideas. This means that without an effective trading strategy, you will find it hard to execute the trades.
So, if you decide to use trading alerts, you still need to do your own analysis before executing any trade. It would not be a good idea to leave your trading in other people’s hands by completely relying on their ideas.
However, that’s not to say that day trading alerts are not worth it. This is because it is easy to miss out on great trading opportunities if you decide to monitor the market yourself. But with trade alerts, you can minimize the chances.
Therefore, whether you are a beginner or experienced day trader, you will still find the best day trading alerts service very useful.
Blake is a self-made online day trader with a knack for adventure. On his free time, he loves reading and learning new methods in the trading as well as improving his jiu-jitsu skills. He currently resides in New York City.