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Author Topic: Target Price Methodology  (Read 402 times)
perfect999
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March 17, 2022, 12:05:34 PM
 #41

Technical analysis is not to exactly predict the price in the future but only to give you idea on what might be the price in the future, because it could go sideways (that's why setting a stop loss and take profit) is very important.

So your question is on what price you'll set to take profit? The answer to that is depends on what price you are satisfied to take profits based on the technical analysis you have on a certain coin price chart movements. Because just like what I've said, technical analysis is not 100% accurate.

Always take profits when you're happy. A profit is still a profit, while your regret is not a profit at all.
Price can go sideways because of different reasons and to know these reasons it's important to stay updated either by watching the news or by visiting the forum because people also talk here about the latest happening in cryptocurrencies which can affect their price. There's actually a term for that or when you scout information outside, I think it was called fundamental analysis.

It's beneficial if you can include that on one of your trading/investing strategies. Taking an action immediately can also secure the predictions that you just committed because there is no way that it will be reverted once you already sold or bought your coins.
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March 17, 2022, 12:54:18 PM
 #42

Technical analysis is not to exactly predict the price in the future but only to give you idea on what might be the price in the future, because it could go sideways (that's why setting a stop loss and take profit) is very important.

So your question is on what price you'll set to take profit? The answer to that is depends on what price you are satisfied to take profits based on the technical analysis you have on a certain coin price chart movements. Because just like what I've said, technical analysis is not 100% accurate.

Always take profits when you're happy. A profit is still a profit, while your regret is not a profit at all.
Price can go sideways because of different reasons and to know these reasons it's important to stay updated either by watching the news or by visiting the forum because people also talk here about the latest happening in cryptocurrencies which can affect their price. There's actually a term for that or when you scout information outside, I think it was called fundamental analysis.

It's beneficial if you can include that on one of your trading/investing strategies. Taking an action immediately can also secure the predictions that you just committed because there is no way that it will be reverted once you already sold or bought your coins.

one way to keep tabs if you are holding specific coins is to subscribe the social media channels of a given coin. because most of the time, there are discussions that are not being discussed on ANN threads or their blogs or their site. as it is now easy to post small updates via soc media channels like telegram or twitter, some of these devs will post something on these channels. now, if you feel they are being silent and hard to communicate with. maybe, start thinking of getting out while you are still in positive profit. because if they are not showing activity or any enthusiasm to their community, something is wrong with it. you need to get ahead of things, otherwise, they will possibly leave their holders hanging.

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March 18, 2022, 11:58:20 PM
 #43

For me, the target price will depend on what kind of trader we are. If we are a daily trader, it doesn't need to set up a very high target price to take profits. I commonly will use a certain timeframe, from 4h or others depending on how we set the indicator.

However, if we are a slow starter in the spot market moreover, we can also determine that it is for the very short term in daily or some days, for a short middle term or for holding. I will decide it based on the prospect of the coins or tokens that we are now holding. I will also think about the probabilities of the coins or tokens in several months later, if they are really worthy of even only hype tokens. If they are worthya dn top coins, maybe I need more tha 30% increases for taking profits.And I need to wait also for passing ATH only for the very top coins

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March 19, 2022, 11:57:43 AM
 #44

Price can go sideways because of different reasons and to know these reasons it's important to stay updated either by watching the news or by visiting the forum because people also talk here about the latest happening in cryptocurrencies which can affect their price.

The forum helps a lot this way. It seems to me that some important news is not only discussed here in the first place, but also anticipated in advance. It is very difficult to follow all the updates by yourself. However, at the forum you not only immediately see the news, but also the reaction to it and the analysis of how it can affect the market as a whole. This is one of the biggest reasons why I love bitcointalk.


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Johnyz
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March 19, 2022, 12:42:24 PM
 #45

Price can go sideways because of different reasons and to know these reasons it's important to stay updated either by watching the news or by visiting the forum because people also talk here about the latest happening in cryptocurrencies which can affect their price.

The forum helps a lot this way. It seems to me that some important news is not only discussed here in the first place, but also anticipated in advance. It is very difficult to follow all the updates by yourself. However, at the forum you not only immediately see the news, but also the reaction to it and the analysis of how it can affect the market as a whole. This is one of the biggest reasons why I love bitcointalk.


There's a lot of good advices here, not just about investments but also about personal things you just need to explore this forum.
Anyway, target price should be based on your own contentment because we can't tell you to take profit already if you are not happy with that money yet, it will always depend on you but its better not to be greedy. There are some cases that many regrets on selling early even if its already their target price, I believe they still can't control their emotion and this should be improve as well.
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