The Complete Guide on How to Set Price Alerts on Robinhood

Are you an active trader looking to monitor your Robinhood portfolio more efficiently? Do you want to get notified the moment a hot stock or crypto hits your watchlist? If so, then leveraging Robinhood‘s price alert feature is a must.

In this comprehensive guide, I‘ll walk you through everything you need to know about setting up effective price alerts on Robinhood‘s platform. Whether you trade stocks, crypto, or options – these tips will help you create customized alerts that enhance your trading strategy.

By the end, you‘ll be able to:

Understand the various types of price alerts available
Create alerts for specific stocks, cryptos, and options
Customize notifications based on price, change %, or events
Manage all your Robinhood alerts in one place
Troubleshoot any issues with receiving alerts

So if you‘re ready to level up your Robinhood trading, let‘s dive in and master price alerts!

What Exactly Are Price Alerts?

Before we get into the step-by-step instructions, let‘s briefly overview what price alerts are.

Price alerts (also called price notifications) allow you to set up notifications that are triggered when an asset hits a specific price threshold or event.

For example, you could create the following types of alerts:

Get notified if Bitcoin drops below $20,000
Get notified if Tesla stock pops above $300/share
Get notified if an options contract expires in 1 week

These alerts eliminate the need to manually check prices constantly. Instead, Robinhood will monitor the markets and proactively send you notifications based on your customized criteria.

Price alerts are available across Robinhood‘s entire platform including:

Stocks – Any publicly traded company or ETF
Options – Contracts on equities and indexes
Cryptocurrencies – Major coins like Bitcoin and Ethereum

Now let‘s explore some of the biggest benefits of using Robinhood price alerts for your trading strategy.

4 Reasons Why Price Alerts Are a Game-Changer

Here are some of the key reasons why active traders utilize Robinhood‘s price alerts:

1. Monitor your portfolio hands-off

Instead of having to constantly check your Robinhood app, alerts allow you to monitor your portfolio hands-off. No more wasting time looking up prices manually!

2. Get notified of opportunities in real-time

Price alerts clue you in on potential trading opportunities the moment they occur. No delays in waiting to check prices later.

3. Customize alerts based on your strategy

Tailor alerts to your specific trading style and market thesis for each asset. Unique notifications for each position.

4. Available across all your devices

Get alert notifications on your phone, tablet or laptop – no matter where you are or what device you‘re on.

As you can see, leveraging customized price alerts can seriously enhance your trading workflow. Now let‘s walk through how to set this up.

Step-by-Step Guide to Setting Price Alerts on Robinhood

Here is an easy step-by-step walkthrough of how to create price alerts on Robinhood‘s iOS and Android apps:

1. Open your Robinhood app and go to the desired stock, crypto, or option

First, log into your Robinhood app as normal. Then navigate to the page for the specific asset you want to create an alert for.

For example, if you want to set a price alert for Apple stock, go to Apple‘s page on Robinhood.

This opens the actions menu popup. The vertical ellipsis icon is located in the top right corner of each asset page.

Scroll down and tap on ‘Alerts‘ from the menu options. This will open the alerts management page.

4. Tap the ‘+‘ button to create a new alert

On the alerts page, tap the plus (+) icon in the top right corner to add a new alert.

5. Select the alert type

Choose the alert type you want from the popup selector:

Price alert
Percent change alert
Event alert

Price alerts are likely the most common for price threshold notifications.

6. Enter the details for your alert criteria

Based on the alert type you chose, you‘ll need to fill in details like:

Specific price target
Percent change threshold
Event details

For example, you may set a price alert for $100 on a stock.

7. Select the repeat frequency

Choose how often you want to receive the notification when triggered:

Once per day
Once per week
Repeat (each time criteria met)

For critical alerts, select ‘Repeat‘ for real-time updates.

8. Customize additional settings

You can customize a few additional settings:

Notification sound
Device to alert
Turn email notifications on/off

9. Hit ‘Save‘ to finish!

Finally, tap ‘Save‘ in the top right to officially create your price alert!

And that‘s it – you just created your first price alert on Robinhood. Rinse and repeat the steps to add alerts for all your watchlist stocks and owned positions.

3 Pro Tips for Customizing Your Alerts

Now that you know how to create Robinhood alerts, let‘s discuss how to customize them for your specific trading strategy.

Here are 3 pro tips:

1. Set percentage-based alerts

The most powerful alert is the percent change alert. By basing alerts on percentage gains/losses, you account for volatility and price. For example, set a -10% alert on a stock for downside risk.

2. Monitor support and resistance levels

Plot historical support and resistance levels on a chart. Then set alerts when prices break above or below those key levels.

3. Use conditional alerts

The more conditions you add, the more targeted your alerts become. For example, notify when Price > $100 AND RSI < 30 AND Volume > 1 million.

Get creative in combining different indicators, events, and criteria to build the perfect notification for your strategy.

Now let‘s explore some of the advanced alert types Robinhood provides beyond basic price alerts.

Advanced Alert Types

In addition to standard price threshold and percentage alerts, Robinhood also provides the following advanced alert capabilities:

In/Out of the Money Alerts

For options contracts, you can receive alerts when the underlying asset price causes an option to go in or out of the money. This helps with timing exits on options plays.

Expiration Reminder Alerts

Get notified as expiration dates approach on your option contracts. Ensure you close or roll options before expiry.

Watchlist Alerts

Monitor price action on stocks and cryptos you have on your watchlist but don‘t own yet. Get alerts when it may be time to buy.

Crypto Holdings Alerts

Similar to portfolio alerts but tailored specifically for cryptocurrencies. Helpful for managing volatility.

Account Alerts

Get notifications for account funding issues, limited margin calls, or other critical account events that require action.

As you can see, Robinhood provides alerts tailored to different asset classes and scenarios. Now let‘s go over how to manage your existing alerts.

Managing Existing Price Alerts

Once you‘ve created your initial price alerts, you‘ll likely need to revisit them and make changes over time. Here‘s how to manage existing Robinhood alerts:

Tap the profile icon in the bottom right of the Robinhood app
Select ‘Notifications‘ to access your alerts
Choose ‘Price Alerts‘ to see your current alerts
Tap into each alert to edit the price, %, or other criteria
Swipe left on any alert and tap ‘Delete‘ to remove it
You can also toggle alerts on/off by tapping the slider button

I recommend reviewing your alerts every few weeks to optimize them as market conditions change. Turn off any unnecessary notifications to avoid alert fatigue.

Now let‘s move onto some frequently asked questions about how alerts work under the hood.

FAQs about Robinhood Price Alerts

Here are answers to some common questions about how price alerts function on Robinhood:

How do Robinhood‘s price alerts work technically?

Robinhood uses webhooks to enable real-time alert triggering. When an alert criteria is met, the Robinhood servers send a webhook to their notification system to instantly send you an alert.

Do alerts work if I don‘t have the app open?

Yes! Thanks to webhooks, alerts will still reach your phone, email or other devices even if the Robinhood app isn‘t currently open.

How many price alerts can I create?

There is no official limit to the number of alerts you can create. Set up as many customized alerts as needed to monitor your trades.

Can I create alerts on Robinhood‘s website?

Unfortunately, the only way to set price alerts currently is through the Robinhood mobile app. But notifications will still reach you on any device.

How do I troubleshoot if I stop getting notifications?

First, check your device notification settings. Then uninstall/reinstall the Robinhood app, and double check alert toggles are still enabled.

Can I get alerts for corporate events like earnings?

No, Robinhood does not have alerts for events like earnings dates. You need to manually add these to your calendar.

Hopefully these FAQs provide more clarity on how Robinhood‘s behind-the-scenes technology enables price alerts.

Now let‘s move on to analyzing some pros and cons of Robinhood‘s alert system compared to other platforms.

How Robinhood Alerts Compare to Other Tools

While Robinhood provides excellent free price alerts, it isn‘t the only option. Here‘s a comparison between Robinhood and some other popular alert services:

Robinhood

Pros: 100% free, easy creation, real-time alerts
Cons: No email alerts, limited advanced triggers

Yahoo Finance

Pros: Free alerts, email notifications
Cons: Only for watchlist, not portfolio

TD Ameritrade

Pros: Powerful thinkorswim alerts
Cons: Alerts not on mobile app

TradingView

Pros: Highly customizable alerts
Cons: $15/month minimum for alerts

TipRanks

Pros: Alerts for portfolios, analysts, news
Cons: Starts at $19/month subscription

While Robinhood holds its own, there are scenarios where an additional alert service could be beneficial. Combining Robinhood with a tool like TradingView can provide even more robust notifications and backtesting.

But for most basic trading needs, Robinhood‘s free built-in alerts get the job done!

Now let‘s wrap up with some tips for effectively applying price alerts to your trading strategy.

Actionable Tips for Putting Alerts to Work

Here are 5 tips to use price alerts effectively:

1. Set alerts at major support/resistance levels

Major price levels are optimal alert points to detect breakouts or breakdowns.

2. Use alerts to confirm indicators

Confirm if indicators like RSI or MACD match your alert criteria before taking action.

3. Customize sounds for critical alerts

Use unique notification sounds so you can identify important vs. routine alerts.

4. Start with percentage-based alerts

Percentage alerts automatically account for volatility and price changes.

5. Review alerts regularly

Adjust alerts as your investment thesis evolves or market conditions change.

The more you customize alerts to your strategy, the more useful they become over time.

Conclusion

Robinhood‘s price alerts provide an invaluable tool for active traders looking to monitor their portfolio and identify opportunities. With zero costs, easy customization, and real-time notifications – Robinhood alerts make it simple to stay on top of the markets.

Follow this guide to begin creating customized price alerts tailored to your unique trading style and market strategies. The right notifications will clue you in on chances to buy, sell, or simply provide peace of mind by tracking your holdings around the clock.

So whether you trade stocks, crypto, or options – be sure to take full advantage of Robinhood‘s free price alerts to enhance your trading experience!