Quote alerts can only be set for saved market watch lists. True False
The correct answer and explanation is:
The correct answer is True.
In most trading platforms, including popular ones like MetaTrader or others that offer similar features, quote alerts are generally tied to saved market watch lists. A market watch list is essentially a list of assets, such as currencies, stocks, or commodities, that a trader is monitoring. By saving a watchlist, the platform can track those assets and provide real-time alerts when certain price conditions or triggers are met.
This system is implemented to help traders stay informed about market movements without constantly needing to check prices manually. The alerts can be customized based on specific price levels, volume changes, or other market indicators. However, the key limitation is that you must first save the market watch list, otherwise, the system does not know which assets to monitor.
By saving a market watch list, you can focus on the assets that matter most to you and set tailored alerts for those particular assets. For instance, if you are tracking a stock that is fluctuating around a certain price, you can set an alert to notify you when the stock hits a specific value or changes by a certain percentage.
In summary, because quote alerts rely on saved market watch lists, it is essential to create and save a watchlist before you can set alerts for the assets contained within that list. Without doing so, you will not be able to effectively use the alerting feature, which can limit the ability to react quickly to market changes.