Topic: How To Keep Track of Gains? (Read 112 times)
The more money there is in the account, the easier it is to trade. If you lose $10 when you have $1,000 in your account, you will not be particularly upset and will continue as planned. But if there is only $50 in your account, this could be unsettling and lead to mistakes and loss of the entire account. Not to mention the fact that in the first case there are 100 attempts to correct the situation, and in the second - only 4. It's simple arithmetic.Determine your maximum losses per day. For example, 15% of your capital. Once you reach the limit, stop trading no matter how "tasty" the situation on the market seems. Even if you think you see the trade of the century! Such premonitions are really mirages.
become familiar with excel and you can easily set some simple codes in it to keep track of all your trades and gains/losses. you just have to fill it every time you perform a new trade. or you can simply export your history in a .csv formal and open it in excel or import its data in it.
you enter 4 variables in it: coin name, buy price, amount, sell price the rest is simply calculated automatically.
profit= amount * sell price - fees
profit % = (profit / (amount * buy price + fee)) * 100
then simply add a "=SUMIF(...)" to a cell on the very top and lock that cell to add the total profit under a condition so you can see how much you made. that condition is for when your table is not complete yet like when you have not yet sold anything. it can check the sell price value and if it is 0 then ignore it.
you enter 4 variables in it: coin name, buy price, amount, sell price the rest is simply calculated automatically.
profit= amount * sell price - fees
profit % = (profit / (amount * buy price + fee)) * 100
then simply add a "=SUMIF(...)" to a cell on the very top and lock that cell to add the total profit under a condition so you can see how much you made. that condition is for when your table is not complete yet like when you have not yet sold anything. it can check the sell price value and if it is 0 then ignore it.
You can use mobile apps such as Delta[1] and Blockfolio[2]. But in my opinion both those apps are geared more towards long term investments. If you trade frequently I think traditional excel spreadsheets are still the way to go, as you can customize your spreadsheet to your liking.
[1] https://getdelta.io/
[2] https://www.blockfolio.com/
[1] https://getdelta.io/
[2] https://www.blockfolio.com/
For those of you who often trade your crypto back and forth to Fiat etc to secure your gained profits.
What is your methods to keep track? as in knowing where your high point is to sell out? and knowing your low point to start? and to figure out where you started from during a gain?
thoughtS?
While we are now in high technology age where we can use online spreadsheets to track price of the token or coins that you are following, for me nothing beats manual tracking of your tokens/coins. I mean writing it down on a note book that you can bring anywhere, that way you don't have to worry about losing signal or battery. I have a small planner that I got from Starbucks that I use and I write down the price of those tokens that I follow on a particular time of the day. What is your methods to keep track? as in knowing where your high point is to sell out? and knowing your low point to start? and to figure out where you started from during a gain?
thoughtS?
I don't do so much trading. But what you can do is just come up with your won excel sheet format.
It may take some time initially but once you prepare it next time just enter your buy price in that list so that you know whether you made a profit or not before selling it. I'm following this method for all my altcoin investments.
It may take some time initially but once you prepare it next time just enter your buy price in that list so that you know whether you made a profit or not before selling it. I'm following this method for all my altcoin investments.
For those of you who often trade your crypto back and forth to Fiat etc to secure your gained profits.
What is your methods to keep track? as in knowing where your high point is to sell out? and knowing your low point to start? and to figure out where you started from during a gain?
thoughtS?
What is your methods to keep track? as in knowing where your high point is to sell out? and knowing your low point to start? and to figure out where you started from during a gain?
thoughtS?
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