What is the difference between p/l open and p/l day in the context of cryptocurrency trading?

1 answers

• senlin houSep 21, 2023 · 2 years ago
  P/L open and P/L day are terms commonly used in cryptocurrency trading to measure the profit or loss of a trade. P/L open refers to the profit or loss of a trade that is still open, while P/L day refers to the profit or loss of a trade that has been closed within a day. These metrics are important for traders to track their performance and make informed decisions. P/L open is calculated by subtracting the entry price from the current market price of the open position, taking into account any unrealized gains or losses. P/L day, on the other hand, is calculated by subtracting the entry price from the exit price of a trade that has been closed within a day. It is crucial for traders to monitor both P/L open and P/L day to assess the profitability of their trades and adjust their trading strategies accordingly.
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