Topic: How do you decide on a buy price target? (Read 816 times)
Every trader when making a purchase, of course, has a certain target which is used as a reference when he wants to make more sales by setting the selling price on the order list. this is what I often do if I don't want to get a loss when trading
It's always difficult to tell the price actually, so i choose a particular price and make it a target price for both buy and sell, If the price gets there; fine if it doesn't i will wait until the price gets there, there is no need chasing for price rather set your own target price.
agreed with this strategy wholeheartedly since I too always considers this strategy and make use of it, i'd just gonna bag some coins if the price reached my target otherwise i don't sweat over the coinat all, it just easier this way honestly.
It's always difficult to tell the price actually, so i choose a particular price and make it a target price for both buy and sell, If the price gets there; fine if it doesn't i will wait until the price gets there, there is no need chasing for price rather set your own target price.
There are some traders out there that prefer to trade without a target price, basically if they open a position which has turned out to be incredibly profitable instead of selecting a target price at which they will sell, they simply let the market do its thing and keep moving up their stop loss if the price keeps increasing, now this is not a strategy that works well in ranging markets but when it comes to trending markets this strategy can be incredibly effective. this one thing could be rougly determined from technical analysis honestly I doubt someone could determine this without any technical analysis, though DCA method is one way to get profit and find better entry but it still requires investment overtime which easily means we might also get some bad entries, but with technical analysis i guess we could get rougly estimation of when the market gonna bottoms out.
the most important thing is we have to choose the right cryptocurrency before doing DCA, because when doing DCA in a bad cryptocurrency or shitcoin, then of course it's just a waste of our money, therefore I recommend investing and DCA in cryptocurrency that are in the top 10 on coinmarketcap, because it's safer and for sure the price will increase, so it can give us a big profits in the future.And, people usually do DCA with coins that have a significantly high value like Bitcoin or Ethereum and some other cryptocurrencies, and DCA is done when you are planning to hold on to the assets for the long term, if you are buying for the short-term, you should go for buying with an amount that you are willing to invest.
It's always difficult to tell the price actually, so i choose a particular price and make it a target price for both buy and sell, If the price gets there; fine if it doesn't i will wait until the price gets there, there is no need chasing for price rather set your own target price.
I've been interested in adding Optimism and ImmutableX to my portfolio but their price has been inflated after big run ups.
Now they are both in freefall and I'm considering an entry point.
How do you decide where to take the plunge? A certain %drop from the top or a %above bottom?
Or do you just look at previous levels as the traders always mention, Optimism is getting close to some previous tops at $1.3 for example?
Or do you get buy targets from another source?
to be honest those time low entry already passed in most of coin, Now they are both in freefall and I'm considering an entry point.
How do you decide where to take the plunge? A certain %drop from the top or a %above bottom?
Or do you just look at previous levels as the traders always mention, Optimism is getting close to some previous tops at $1.3 for example?
Or do you get buy targets from another source?
looks monthly/weekly macd chart, remember there is -90% and get another -90% in the last flush mostly before btc halving, dont go all in in same time, dca is ok,
day trading is safer just in case something bad happen, go all ini atleast 1 month before halving or sometimes big discount before halving, now seems etf hype will drive all crypto move faster beyond expected
this one thing could be rougly determined from technical analysis honestly I doubt someone could determine this without any technical analysis, though DCA method is one way to get profit and find better entry but it still requires investment overtime which easily means we might also get some bad entries, but with technical analysis i guess we could get rougly estimation of when the market gonna bottoms out.
the most important thing is we have to choose the right cryptocurrency before doing DCA, because when doing DCA in a bad cryptocurrency or shitcoin, then of course it's just a waste of our money, therefore I recommend investing and DCA in cryptocurrency that are in the top 10 on coinmarketcap, because it's safer and for sure the price will increase, so it can give us a big profits in the future.
it's very unfortunate for sure if that happens then do some research first or your advice is investing in the top 10 coins in CMC,
what is clear is that all decisions are in the hands of each.
this one thing could be rougly determined from technical analysis honestly I doubt someone could determine this without any technical analysis, though DCA method is one way to get profit and find better entry but it still requires investment overtime which easily means we might also get some bad entries, but with technical analysis i guess we could get rougly estimation of when the market gonna bottoms out.
the most important thing is we have to choose the right cryptocurrency before doing DCA, because when doing DCA in a bad cryptocurrency or shitcoin, then of course it's just a waste of our money, therefore I recommend investing and DCA in cryptocurrency that are in the top 10 on coinmarketcap, because it's safer and for sure the price will increase, so it can give us a big profits in the future.
it's very unfortunate for sure if that happens then do some research first or your advice is investing in the top 10 coins in CMC,
what is clear is that all decisions are in the hands of each.
this one thing could be rougly determined from technical analysis honestly I doubt someone could determine this without any technical analysis, though DCA method is one way to get profit and find better entry but it still requires investment overtime which easily means we might also get some bad entries, but with technical analysis i guess we could get rougly estimation of when the market gonna bottoms out.
the most important thing is we have to choose the right cryptocurrency before doing DCA, because when doing DCA in a bad cryptocurrency or shitcoin, then of course it's just a waste of our money, therefore I recommend investing and DCA in cryptocurrency that are in the top 10 on coinmarketcap, because it's safer and for sure the price will increase, so it can give us a big profits in the future.
I'm just buying regularry when i got some money from my main job. So every month i spend 30% my salarry to buy some alts and btc. I already do it more than 2 years and when the bullrun comes i'm just gonna sell it.
i wonder if you're also buying it when the price just near all time high because that would be really bad entry meaning you will be wasting your time. i think strategy is still necessary in your case here. DCA is probably the safest. However, If you see a coin pumping and you want to join early - usually best to wait for the little dip after the pump. Try not to buy the top of any coin.
I agree with you, DCA is the best strategy for investing in cryptocurrency, because it can make us get profit quickly, but I still recommend to investing in popular and useful altcoin, because it's safer for you, so of course with you invest and do DCA, then you will definitely get a big profit, therefore I never recommend to investing in meme coin or new altcoin, because of course it is very risky for you.
DCA is probably the safest. However, If you see a coin pumping and you want to join early - usually best to wait for the little dip after the pump. Try not to buy the top of any coin.
I agree with you, DCA is the best strategy for investing in cryptocurrency, because it can make us get profit quickly, but I still recommend to investing in popular and useful altcoin, because it's safer for you, so of course with you invest and do DCA, then you will definitely get a big profit, therefore I never recommend to investing in meme coin or new altcoin, because of course it is very risky for you.
I'm just buying regularry when i got some money from my main job. So every month i spend 30% my salarry to buy some alts and btc. I already do it more than 2 years and when the bullrun comes i'm just gonna sell it.
this one thing could be rougly determined from technical analysis honestly I doubt someone could determine this without any technical analysis, though DCA method is one way to get profit and find better entry but it still requires investment overtime which easily means we might also get some bad entries, but with technical analysis i guess we could get rougly estimation of when the market gonna bottoms out.
Predicting the market is not good because the fast paced of it cannot be determined when to buy nor to sell, no on really knows and no one can outsmart the market as well. To lessen the stress, must better to apply DCA regarding on what crypto would you like to buy. Its much better that way, less stress and you can always set a schedule when to buy using DCA methods.
prediction of market doesn't mean that it will come out the same you predicted but there are many factors which have impact upon crypto market. if we care out all factor and then predict according to previous history of market then the outcome will be true most of the time. personally when i saw something big happening in any coin, i entered at early stage like ltc halving and hardfork of any coin.and its working for me most if the time. another time for buying is when i see full fear in the market then i buy only big coin like Eth, matic.
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Those who keep waiting for the perfect spot usually miss the best opportunities, because getting less profit is definitely better than getting no profit at all, and once you learn that, you will become a good trader because good traders never get greedy but they take any profit they can because it's at least something.
You have some point there and it means that holding long-term gives you a huge profit as it is likely possible that those short-term investors are even more profitable. Those who keep waiting for the perfect spot usually miss the best opportunities, because getting less profit is definitely better than getting no profit at all, and once you learn that, you will become a good trader because good traders never get greedy but they take any profit they can because it's at least something.
For example, earning $300 monthly through trading was possibly more than we wait for 3-4 years and selling our coins which only earned $5,000. Citing that instances, it makes me think as well that I should go for buying during the dip and then sell when it rises, and repeat the process.
This is a difficult question because price is relative, it depends on how valuable you think the tokens can be, those people that think BTC was expensive at $16k would have missed out on 2x their money by now. What I do use is the fundamental analysis, is the team still committed to the project, any major update on their roadmap and also who is backing the project, I use this coupled with technical analysis, Fibonacci retracement is a very good tool to use to find a good price, 0.67% is a very good area to buy the deep. What I tell people is that just buy and DCA because it is difficult to spot the bottom.
It is impossible for anyone to perfectly time the market every time, it might happen once, or maybe twice, or maybe more than that but it doesn't mean that one can do it every time, so the best way is to use the best tools and techniques to analyze the price and buy when you think is the best spot according to your research and analysis, and don't regret if the price goes further down because that was always bound to happen, the same goes for selling.Those who keep waiting for the perfect spot usually miss the best opportunities, because getting less profit is definitely better than getting no profit at all, and once you learn that, you will become a good trader because good traders never get greedy but they take any profit they can because it's at least something.
This is a difficult question because price is relative, it depends on how valuable you think the tokens can be, those people that think BTC was expensive at $16k would have missed out on 2x their money by now. What I do use is the fundamental analysis, is the team still committed to the project, any major update on their roadmap and also who is backing the project, I use this coupled with technical analysis, Fibonacci retracement is a very good tool to use to find a good price, 0.67% is a very good area to buy the deep. What I tell people is that just buy and DCA because it is difficult to spot the bottom.
Predicting the market is not good because the fast paced of it cannot be determined when to buy nor to sell, no on really knows and no one can outsmart the market as well. To lessen the stress, must better to apply DCA regarding on what crypto would you like to buy. Its much better that way, less stress and you can always set a schedule when to buy using DCA methods.
Just to admit that investing in shitcoins is stressful even to say that we are applying the DCA strategy. Everyone has their own way of determining when to buy and the price target. But for me, I was certain about buying when the market price is down, holding, and then selling at a high. That is why it is very important that we must know how to analyze the market trend and must have to consider some trading tools that would help us in making a decision.
Predicting the market is not good because the fast paced of it cannot be determined when to buy nor to sell, no on really knows and no one can outsmart the market as well. To lessen the stress, must better to apply DCA regarding on what crypto would you like to buy. Its much better that way, less stress and you can always set a schedule when to buy using DCA methods.
Yes implementing DCA is indeed a good option and many people also use the method,crypto market is constantly moving and instead of wasting time on predicting better use that time to follow the market,
it will be more useful for sure.
This doesn't mean that we are going to end up seeing anything amazing from newbies who do not know how to do it, but when you mature enough in the crypto world, you will know when is the bottom or at least when you are close to it even if you do not find it exactly. That will allow you to do DCA a lot better.
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