The Two-Alert Rule for Every Holding
For every stock you hold, set a minimum of two alerts: a price_below alert at your stop-loss level and a price_above alert at your profit target. This means every position has automated downside protection and an automatic upside notification. You will never be caught by a major move while not watching.
Calculating Stop-Loss Levels
Setting Target Alerts
Your price_above target alert should reflect a price level where you would consider taking full or partial profits. This might be a previous high, a round number with significant resistance, or a price that represents a defined return percentage from your cost basis. Set the alert before you open the position so the target is not influenced by post-purchase anchoring.
After logging a transaction in the Portfolio Transactions feature, immediately set the corresponding stop and target alerts for that position. Do this as a two-step habit: log the trade, then set the alerts. Never leave a position without at least a downside alert.
Reviewing Alerts After Price Moves
If a position rises significantly, update your price_below stop-loss alert to trail the new higher price. This locks in a portion of your gains. If a position falls and you decide to hold, reassess whether the original stop level still makes sense or needs to be adjusted based on new chart levels.