The major reason why a lot of crypto traders are struggling in the market is their inability to make decisions at the right time. For example, many fail to close their positions at periods when they are profitable. In many cases, this is due to the unpredictable and fast-flowing nature of the market, rather than the technical skills of the trader.
As a result, a lot of traders miss out on a lot of profitable opportunities every day.
In this article, we are going to be talking about a close price alert, a tool that will provide traders with live updates on the state of the market, the closing prices of coins, and some other trading information.
Let’s take a closer look!
Defining a Price Alert and a Close Price
What Is a Price Alert?
A price alert is an online tool designed to notify traders of changes in the price of crypto assets. It helps traders remain in tune with the market by informing them when a specified buy or sell price is reached. Usually, traders receive an email or an instant message in an application.
For example, let’s say a trader bought a coin for $7,000 and would like to sell it for $10,000. If the trader sets a price alert, he/she will be notified immediately when the coin hits the $10,000 mark.
What Is a Close Price?
A close price in traditional markets is defined as the last transacted price of a security or asset before the market officially packs up shop for trading. It signals traders to changes in the price of an asset at the end of each consecutive trading day.
Although the crypto market is a 24/7 place and hence has no official closing or opening hours, a close price alert can be computed by simply comparing the current market price to the price of a given cryptocurrency asset within the past 24 hours or any time frame you consider relevant.
Why You Should Use Price Alerts
There are several advantages to using price alerts.
- For starters, they are useful when it comes to detecting if and when the prices of chosen crypto assets drop. With a price alert, users don’t have to be glued to their smartphones, checking the current price status of crypto assets. Rather than staying glued to cryptocurrency platforms or searching the internet for information, price alerts bring the news to you.
- What’s more, with price alerts, traders will become aware when chosen coins hit support and resistance levels. The support level is when a downtrend ceases because of the increased demand for a cryptocurrency. Resistance is when everyone sells coins, causing the reverse of an uptrend.
Now that we know the principles of a price alert and its benefits, let’s take a look at a specific platform that offers this tool.
What Is Obolon9?
Obolon9 is a software-based professional automated trading desk designed to help traders automate their trades.
That is to say, the software enables traders to track changes in the close prices of any cryptocurrency across any specified timeframe, and it notifies the trader accordingly. The software also has the ability to run multiple scenarios with different strategies, as needed.
Obolon9 monitors trading markets 24/7, allowing its users to fully trust their scenarios. It can execute complex scenarios, while most platforms out there offer a limited quantity of order types, such as limit, cover, market orders, etc.
In addition, Obolon9 offers a profitable subscription option of £9.99 and provides full monthly access. Also, there’s an annual subscription for just £99.9, which is a significant discount.
What Is the Obolon9 Close Price Alert?
This is a trading automation tool of the Obolon9 platform that determines when the price of an asset crosses the set price of the trader. This instrument alerts the user with instant notifications on their smartphone that the price was reached and it’s ready to close. Thus, traders don’t need to track the closing prices.
The software, with its flexibility of manual trading and accuracy, provides traders with the latest information as it arrives.
Discover Your New Obolon9 Close Price Alert
Obolon9 provides traders with easy settings for their automated trades. To set up a close price alert, first you have to visit the official website and follow the next steps.
- Sign up: The sign-up process on Obolon9 is quick and straightforward. Fill in your email and create a password.
- Verify Your Account and Choose a Scenario: Check your email and verify your account. After that, go to the Scenarios page and create a trading scenario. Give it a name and go to step three.
- Choose the Trading Strategy, Pair, and Platform: Select Close Price Alert as your preferred option. Then you will see an option to select the trading platform and the cryptocurrency pairs you want to trade.
- Parameter Settings: Here the trading parameter refers to the variables in your bid like ask prices, cryptocurrency quantity, market offset, time interval, etc.
- Save and Start: Double-check the information to be sure you filled it out correctly. Click the Save and Start button to initiate the scenario.
And then the scenario is up and running, ready to serve you! You will receive a notification the millisecond your specified parameters are fulfilled.
Finally, you know how price alerts and close price alerts work and how to set the desired parameters on them. A lot of traders have found these indicators to be immensely helpful tools, ones that greatly aid their trading, especially when automated. These easily set users above other traders, giving them a clearer edge.
Moreover, Obolon9, an automated trading desk, relieves traders of the responsibility of being accurate and diligent with the cryptocurrency news that affects decisions while also ensuring that the trader has the final say on the crypto assets.