Wishlist

A watchlist is a decision you make in advance

The point of writing down a target price is that you set it while you are calm. When a stock finally drops 25%, the news explaining why will be genuinely frightening — that is what caused the drop. A number you committed to beforehand is the only defence against talking yourself out of it.

Where the target should come from

Not from the chart, and not from a round number. Work out what the business is worth to you with the intrinsic value calculator, then subtract the discount your confidence justifies — roughly 15–20% for a predictable business you know well, 40–50% for a turnaround or a sector you are new to. That figure is your target price, and it has a reason behind it you can re-read later.

Revisit it, do not defend it

A target set two years ago on assumptions that have since been proven wrong is not a bargain, it is an anchor. When a stock reaches your price, the right question is not "did it hit my number?" but "do I still believe the numbers I used?" Re-run the valuation before you buy.

Targets can be set in dollars or euros and are compared against the live price, so a currency move alone will not make something look cheap when it is not.