How are you calculating and keeping track of profits?

sana54210

legendary

Activity: 3318

Merit: 1128

Quote from: Cryptoconniption on August 06, 2017, 12:13:25 AM

I'm trading on Bittrex. I input the values for each trade into Cryptocompare so I can get an idea of how well I'm doing. However, since most of these coins are only traded with bitcoin, when bitcoin goes up, the theoretical value of the coin goes up. I can't get my head around this. The best way I've found so far is when I let Gunbot run (the automated buying/selling app) in Bittrex it constantly buys and sells (in btc) so I can look at my total btc to give me an idea of how well I'm doing.

How are you keeping track?

You sound like you bother about USD value but you are trading against BTC, am I right? If you trade against bitcoins then do not bother dollar values. Commonly, I do see people are comparing values of altcoins in dollars but they do trade in BTC pairs. These traders must choose USDT pair as now a days most crypto exchanges are having this option. In 2014/2015, we started to have trading pairs with LTC/Doge but now a days ETH/USDT pairs are famous. I guess a stablecoin pair will be good for the people who concern fiat value.

I bother only BTC value. So, I trade with BTC paired instruments and I do calculate my profit/loss things in terms of BTC/satoshi regardless of where BTC prices are doing. It became possible for me because I value bitcoins and I save them for longer holding regardless of where bitcoin market is heading.

adamajet

newbie

Activity: 7

Merit: 0

After using spreadsheets which are way tedious, I spent the last few days putting this together: CoinbaseProfits.com

You will easily see if you are up and down taking fees into account.

CoinbaseProfits.com

joshblum

newbie

Activity: 1

Merit: 0

I made a site to use the Coinbase API to keep track of your net gains/losses. Check it out at profbit.info

offlinedragon

full member

Activity: 135

Merit: 100

Quote from: Skyborn on October 29, 2017, 12:29:28 PM

There are a lot of ways to track your profits. I mainly use altpocket for my altcoin investments (I can directly import my buy-sell logs from bittrex, this makes my life a lot easier when it comes to tracking my investments). And on my mobile device I use blockfolio to track my bitcoin investments.
If you don't have a mobile device or don't want to rely on a 3rd party service you can also do it the old-fashioned way and use excel. But that requires more time and some excel skills.

I just keep an eye on the market of bitcoin, which side it is bound. I just calculate roughly with myself and not a special program for my investment. When the price goes up I realize that my investment grows and when there is fall in the price my investment reduces. Just this and nothing more, because keeping records and maintain figures I think is not good for mental relaxation. Therefore I never took it serious.

ronafurw

full member

Activity: 420

Merit: 102

Quote from: clarkt on October 29, 2017, 02:01:27 AM

May be I am old school but i do not use app for calculating, I try to see my profit in bitcoin. And i use calculator to do it. Exchanges also give you overall value of your porfolio and you can see profit if there is sudden rise in that value and act accordingly.

There is nothing wrong in using calculator for keeping track of your earnings and losses with digital currencies. I never feel shy or weird in sticking to old means of carrying out certain actions. Yep, the exchanges are also providing these services but again it is better to trust your own calculations. By using calculator, you can make an excel sheet for keeping track of all of your profits and losses.

KourtneyK

full member

Activity: 294

Merit: 101

I actually downloaded an app I saw that's called Blockfolio and track every coins I have on that single app. It helps me keep track which coins are dumping now and which ones are making me profit but of course you have to input the details one by one like the coins you have and how much you got them and the amount you bought.

mast3rm1nd

full member

Activity: 322

Merit: 100

blockfolio can be a good monitor in real time for you assets and investments so that you can decide when to sell/buy a coin of interest. though for the long term tracking of trades nothing beats a good old notepad and pan

cryptolit

member

Activity: 196

Merit: 10

anyone developers want to partner up to make an incredible automated tool to do this?!

zokizuan

member

Activity: 112

Merit: 12

I write in a simple notepad for my daily arbitrage, increase in coin or profit from trading...etc

and use cryptocompare and blockfolio for portfolio

wagi

full member

Activity: 196

Merit: 100

I dont use anything to calculate and keeping track of profit.
Just use manual filling by monthly, then it will be more than enough.
Dont be confusing to calculate, its just simple.

btcdamnit

sr. member

Activity: 266

Merit: 250

I use cryptocompare to track the whole portfolio including profits

kevpantof

sr. member

Activity: 491

Merit: 250

Quote from: clarkt on October 29, 2017, 02:01:27 AM

May be I am old school but i do not use app for calculating, I try to see my profit in bitcoin. And i use calculator to do it. Exchanges also give you overall value of your porfolio and you can see profit if there is sudden rise in that value and act accordingly.

Calculating and keeping track of all your profits and loss in very much important thing and you being an investor should keep on doing this so that you may have a fair idea of your performance. There are number of apps available in app store which can help you serve the purpose. In addition to this, you can also hire some accountant which can do all these calculations for you.

yrreg ger

sr. member

Activity: 448

Merit: 250

Quote from: Bitcoinsummoner on October 29, 2017, 06:57:20 PM

Quote from: shursight on October 29, 2017, 05:16:36 PM

It is pretty easy, i just have an excel sheet in where i keep a track of all my investments and profits, and of course, all my trading and forex operations that i have opened.
This is a good and an easy way to keep on track those operations, because i am sure that i have never missed any number, and this makes me protect my money and to not feel tempted to spend it on some stuff, this is a nice way to do it.

In my own i just honestly use the history of every trading site to track my profit i am not using any excel or spreadsheet i am just using the piece of paper and i write them all and then calculate all my profit or loses to know how much bitcoin i made in trading ..

Sometimes loses but mostly making a good profit than loses..

I calculate my profits manually but sometimes it only give me false hope. I calculate it in expected trading profits so that I know if how much my money could be. Then I set my price on the amount that I am satisfied which is not high and is not below half of the expected price. I used this calculations as basis if I am going to earn from that coin or not. I have experienced receiving a shit coin once where there are no investors or no one buys the coin.

squatz1

legendary

Activity: 1666

Merit: 1285

Flying Hellfish is a Commie

Most of the sites that you'd be trading on, be it Poloniex, Bittrex, Gdax, and so on and so forth will tell you the amount of profit (or loss) that you made on a trade so it's not like this information is being hidden from you. Though, if you do want this information in a more presentable manner then go on a site like crypto compare (https://www.cryptocompare.com/) Which had an area where you're able to put in the coins you own, what you bought them at and it'll monitor all of that sort of information.

It's easy and simply, though I'd rather use the built in ones from the sites As they don't require manual input.

Bitcoinsummoner

hero member

Activity: 1456

Merit: 624

Maintain Social Distance, Stay safe.

Quote from: shursight on October 29, 2017, 05:16:36 PM

It is pretty easy, i just have an excel sheet in where i keep a track of all my investments and profits, and of course, all my trading and forex operations that i have opened.
This is a good and an easy way to keep on track those operations, because i am sure that i have never missed any number, and this makes me protect my money and to not feel tempted to spend it on some stuff, this is a nice way to do it.

In my own i just honestly use the history of every trading site to track my profit i am not using any excel or spreadsheet i am just using the piece of paper and i write them all and then calculate all my profit or loses to know how much bitcoin i made in trading ..

Sometimes loses but mostly making a good profit than loses..

sajjadkhan

member

Activity: 72

Merit: 10

Crypto Evangelist

Spreadsheet is always my best friend with a tracking mechanism that I have used from stock trading days. I like to keep them consolidated due to use of different exchanges.

shursight

hero member

Activity: 728

Merit: 500

It is pretty easy, i just have an excel sheet in where i keep a track of all my investments and profits, and of course, all my trading and forex operations that i have opened.
This is a good and an easy way to keep on track those operations, because i am sure that i have never missed any number, and this makes me protect my money and to not feel tempted to spend it on some stuff, this is a nice way to do it.

geopolisch

hero member

Activity: 1022

Merit: 511

Quote from: imyashir on October 28, 2017, 08:18:07 AM

Quote from: ~Bitcoin~ on August 06, 2017, 12:35:05 PM

Blockfolio can be good option for you to track all your crypto assets and actually I am also using it to track all my investment in real time. They support most of the trading platform and displays your holding in both fiat and bitcoin along with daily change in your total investment or in individual asset.

Just download android or iphone app and start tracking https://www.blockfolio.com/

blockfolio is also my use very good use and it's very easy to use just find the coin and place the quantity for your price and profit. You'll also know if you have losses. with a chart and with a booking. so it's better to use the block portfolio to newbie please use the blockfolio too.

Yeah that I found best among all the other percent profit calculations. Block folio is amazing and I like the most about it, it does give you the whole scenario of your investment. Like the percentage of profit, and loss along with graphs and much more. Keep using it and don’t just make rough graphs and measurements in your mind, use such tools for your better future analysis.

Skyborn

member

Activity: 98

Merit: 10

There are a lot of ways to track your profits. I mainly use altpocket for my altcoin investments (I can directly import my buy-sell logs from bittrex, this makes my life a lot easier when it comes to tracking my investments). And on my mobile device I use blockfolio to track my bitcoin investments.
If you don't have a mobile device or don't want to rely on a 3rd party service you can also do it the old-fashioned way and use excel. But that requires more time and some excel skills.

carlfebz2

hero member

Activity: 2926

Merit: 722

DGbet.fun - Crypto Sportsbook

Quote from: nexus2k14 on October 29, 2017, 08:50:57 AM

For keeping track in crypto I use Blockfolio, very good app for general purpose. I am not trading every day, so pen and paper is fine for me for notes I can check in small notebook anytime. Balances I also put on excel spreadsheet. I put extra rows information like: Circulating Supply, Total Supply, Rank, Market Cap and few other details - this help me invest in more promising ICO. If you intererested how it looks in Excel I highly recommend you to check you on YouTube: Ian Bolina, he is a great guy to watch and learn, and also he have complete excel spreadsheet that includes all possible information about new crypto.

This is the way on how I do make tallies on my tradings which I do make an excel. It may not be fancy like on others but as long I do know how to read and to put the stats on daily trades then it should be fine.I categorize them for short day trading and for longer trades or holds.I do still able to track out if I'm losing or if on profits which I do help me anytime on what are the things that should supposed to do.

Topic: How are you calculating and keeping track of profits? (Read 1734 times)