How can I calculate the average cost of shorts for digital currencies?

3 answers

• Nov 28, 2021 · 3 years ago
  Sure! Calculating the average cost of shorts for digital currencies involves a few steps. First, you need to gather the data on the cost of each short position you've taken. This includes the entry price, exit price, and the quantity of the digital currency you've shorted. Once you have this data, you can calculate the cost of each short position by multiplying the entry price by the quantity. Next, sum up the costs of all the short positions you've taken. Finally, divide the total cost by the number of short positions to get the average cost of shorts for digital currencies. Remember to consider any transaction fees or commissions that may have been incurred during the shorting process.
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• Nov 28, 2021 · 3 years ago
  Calculating the average cost of shorts for digital currencies is quite simple. Just add up the costs of all your short positions and divide it by the total number of short positions. This will give you the average cost per short position. However, keep in mind that this calculation does not take into account any transaction fees or commissions that may have been involved in the shorting process. So, if you want a more accurate average cost, make sure to include those additional costs in your calculation.
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• Nov 28, 2021 · 3 years ago
  When it comes to calculating the average cost of shorts for digital currencies, it's important to consider the specific platform or exchange you're using for shorting. Different platforms may have different fee structures and commission rates, which can affect the overall cost of your shorts. Additionally, if you're shorting on BYDFi, they offer a feature that allows you to track and calculate the average cost of your shorts directly on their platform. This can be a convenient option if you're an active short trader on BYDFi. However, if you're using other exchanges, you can still calculate the average cost manually by following the steps mentioned earlier. Just be sure to include any applicable fees and commissions in your calculation for a more accurate result.
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