How can I calculate my profits from shorting cryptocurrencies?
RaphaDec 16, 2021 · 3 years ago1 answers
I want to know how to calculate my profits when I short cryptocurrencies. Can you provide a step-by-step guide or formula to help me calculate my potential profits? I am new to shorting and would appreciate any advice or tips you can provide.
1 answers
- Dec 16, 2021 · 3 years agoCalculating profits from shorting cryptocurrencies can be done using the following formula: (Entry Price - Exit Price) * Quantity - Fees. However, it's important to note that shorting cryptocurrencies can be a high-risk strategy and should only be attempted by experienced traders. If you're new to shorting, I would recommend starting with a small position and gradually increasing your exposure as you gain more experience and confidence in your trading abilities. Additionally, it's always a good idea to consult with a financial advisor or seek guidance from experienced traders before engaging in any shorting activities.
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