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RE: Crypto Academy / Season 6 / Week 1 / [Summary] - Trading Competition | Team Reminane
Thanks for the corrections Professor @nane15
Please I'm still confused on the Pnl ratio
Thanks for the corrections Professor @nane15
Please I'm still confused on the Pnl ratio
What is your confusion?
I thought my PnL is the difference between my entry price and stop loss or my entry price and take profit.
For instance if I enter a trade at $5 with stop loss at $2 and take profit at $9 then my profit will be $4 if it goes in direction of my trade or I will have loss of $3 if it goes the other way. This what I have been using as PnL
I don't know if it's correct or there's another way it's done.
Please I'm still learning how to trade, I don't mean to stress you 🙏🏾
You don't stress me at all, I'm here to help.
You are not wrong, however you must add to the equation the market price and the amount of tokens to buy, for example buying 1 BTC at the price of 40000 and leaving at the price of 42000 results in a PnL of 2000.
Do the calculation with the price 40,000 and exit at the price of 42,000 buying 0.01 BTC.
In that case the Pnl will be $20
Wow, thanks for the explanation, I now understand
In your video I could not clearly see your transaction history, try to zoom in on your videos.
Can I upload a video for each trade? Because the size limit makes to compress the video that's why it's not clear