Price alerts now added, together with improvements for our mobile version
March is coming to an end and we did our best to cram it with new features and possibilities for our users. The first one is something many of you wanted, so we hope you find it useful for your trading.
A crucial tool in any trader’s utility belt. Usually it’s used when the trader focuses on one instrument, but would still like to keep tabs on several more prices at the same time without the need to load and check the charts history.
Price alerts can be used as signals for action. They are frequently placed above resistance and below support lines, so that breakouts can be caught at their initial phase. Another use is to place them at the levels provided by technical indicators – Fibonacci, moving averages, etc. Some traders prefer them instead of pending orders, as they still passively provide information and get your attention while not making an action obligatory, before you have the time to look around and see how things got to where they are.
One of the other tricks you can use is to actually set two price alerts, for when you’re not sure where things are headed. If one is triggered, then you can get your bearings and choose the direction of your trade based on the trend that you assume is confirmed when a price level is reached. Something to look out for is when both of your price alerts are activated (especially in a short time frame) – that would be a sign of increased volatility and you should adjust your trading accordingly.
For the desktop version the alerts are activated from the bell shaped button in the upper right corner, located just below the Messages button and above the drawing tools. The list that appears will contain previous alerts that have been set. For a new one you need to press the “New Alert” button.
The prices in the window that appears are the current buy and sell price. They are used as directions from which the alert can be set – if you want to have an alert at a lower price than the current sell price, then you can click the “down” button and go from there and vice versa. You can also write in the price manually which is probably more suitable when the alert is further away from the current price and is aimed at something in the long term.
In the mobile version you can also receive notifications for the price alerts that you have previously set through the desktop version. If you have disabled your push notifications and a price alert is activated, then you will still receive a new message when you’re logged in the mobile app. The default status of the push notifications is “enabled” and you can change it if need be from Settings – Notifications – Price alerts, as shown in the screenshot below.
Opening real accounts from mobile devices
An improvement aimed at the increasing number of users that operate only through their phones. With this there will be no need for additional actions to be performed through the desktop version for the actual creation of an account. This provides the full freedom to access and trade through the iOS and Android apps, as well as the web mobile platform.
We’ve also included three new chart types for the mobile versions – area and bar charts, as well as Heikin-Ashi (otherwise known as average bars).
Chinese yuan pairs now available
We now have 23 pairs with the Chinese yuan in our platform. The currency of the world’s second largest economy is gaining popularity in the forex world, not only as a proxy for trading on Chinese economic news, but also for its steadily increasing importance in the global economy. The coding of the currency in the platform is CNH, not the probably more popular CNY. This is due to the fact that the currency is traded in two separate markets – an internal one in the Chinese mainland (with CNY) and an external one in Hong-Kong. The former British colony acts as a gateway for the local industrial giants and the multinational companies in their business and currency dealings – one of the specifics of a state-runned currency that is still pegged to a basket of six other international currencies.
Alongside the expected pairing with the euro and the dollar, we’ve opted to provide some more exotic pairings, covering the entire spectre of trade with the yuan, hopefully satisfying your appetite for opportunities with it. For more background on the Chinese currency you can check out last week’s blog post.
Do you like our new enhancements? What else do you need for your trading? Let us know in the comments.