Set price alerts that actually help
Short answer: Decide the price at which you would act, set one alert at that level for each metal, keep the number of alerts small and review them when your plan changes.
Start with a plan, not a price
An alert is useful when you already know what you would do if it fired. Write down the level where you would buy more, and where you would stop buying or consider selling.
- A buy level for each metal
- A level where you would pause
- The amount you would buy at each level
Keep alerts few
Many alerts become noise that you stop reading. A handful of levels per metal is easier to act on, and the free plan allows two active alerts.
Alert on your own numbers
Base levels on your average cost per gram and your goals rather than on headlines. An alert that tells you the price has dropped below your average cost is more useful than a round number.
Review on a schedule
Check your alerts when you review your portfolio, and move or remove ones that no longer fit your plan.
Questions
Should I set alerts above or below the current price?+
Both can help. A level below the price prompts you to buy on a dip, and a level above can prompt you to review or take profit.
Do alerts guarantee I will buy at that price?+
No. An alert only tells you the price was reached. You still decide whether to act, and a market can move quickly past a level.