Topic: Trying to get handle on the conversion rate to figure out profit for crypto (Read 66 times)
December 15, 2017, 05:55:16 PM
so if those numbers were reversed I gained $6 but what kind of fees would I have on top of the Buy/sell? that i would need to subtract from my gross profit of $6??
December 15, 2017, 04:00:02 PM
sorry I swtiched the buy and sell amounts by accident ill edit it now
December 15, 2017, 06:55:00 AM
Okay, let's break this down.
Basically what haroldtee said, but I've added the calculations for the numbers, it should be self-explanatory.
You've lost little over 6 dollars indeed.
Quote
You bought $300 worth of BTC @ $17440 --> 17440 / 300 = 58.1333333 --> 1 / 58.133333 = 0.0172018
You sold $300 worth of BTC @ $17090 --> 0.0172018 * 17090 = 293.97 (price you sold your BTC for)
You sold $300 worth of BTC @ $17090 --> 0.0172018 * 17090 = 293.97 (price you sold your BTC for)
Basically what haroldtee said, but I've added the calculations for the numbers, it should be self-explanatory.
You've lost little over 6 dollars indeed.
December 15, 2017, 05:54:34 AM
I really do not understand you. Buying at $17440 and selling at $17090 is not profit. That is a loss. That is like 2.00688% loss. If you put that into your trade of $300 worth of BTC, then you just lost $6, so you should have about $294 left now.
Remember that the more you have, the more the profit or loss when you go all in and vice versa.
Remember that the more you have, the more the profit or loss when you go all in and vice versa.
December 15, 2017, 05:37:40 AM
Lets say I buy into BTC at 17090 and sell at 17440 so the difference between is 350+.. BUT if I only have $300usd worth of BTC (0.01716581) when I did that trade how do i calculate the profit? im boggled because I only have a small percentage of one BTC Unless im wrong but I doubt i made $350 on that buy/sell lol I just need a kick to understand this.
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