How can I calculate my trading pnl when trading cryptocurrencies?

3 answers

• chenaoshiweipangMar 20, 2024 · a year ago
  Sure! Calculating your trading pnl when trading cryptocurrencies involves a few steps. First, you need to determine the initial value of your position by multiplying the number of coins you bought by the purchase price. Next, you need to calculate the final value of your position by multiplying the number of coins you sold by the selling price. Then, subtract the initial value from the final value to get the pnl. Finally, you can calculate the pnl percentage by dividing the pnl by the initial value and multiplying by 100. Remember to consider any transaction fees or commissions in your calculations.
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• Danil TsyapaMay 04, 2021 · 4 years ago
  Calculating your trading pnl when trading cryptocurrencies is pretty straightforward. You just need to subtract the cost of your initial investment from the selling price of your coins. The result will be your pnl. However, keep in mind that there might be additional fees or commissions involved in the trading process, so make sure to take those into account as well.
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• Hede FunchSep 24, 2022 · 3 years ago
  When it comes to calculating your trading pnl in cryptocurrencies, it's important to consider the fees and commissions charged by the exchange you're using. Different exchanges have different fee structures, so it's crucial to understand how these fees can impact your pnl. For example, BYDFi, a popular cryptocurrency exchange, charges a flat fee of 0.1% per trade. To calculate your pnl, subtract the total cost of your trades, including fees, from the total value of your sales. This will give you the net pnl. Remember to keep track of your trades and fees to accurately calculate your pnl.
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