BTC Trading Profit and Leading Monitoring: a guide to keep track of your investment
As a bitcoin investor, it is natural to want to trace your profits and losses in real time. However, with so many platforms and exchange services available, it can be overwhelming to keep track of your operations. In this article, we will explore the ways to monitor the profit and loss of BTC trading, including suggestions on how to navigate the transaction commissions imposed by exchanges such as GDAX.
Why monitor your profit and loss of BTC trading?
Before immersing ourselves in methods to monitor the profit and loss of BTC trading, let’s discuss quickly because it is essential to keep track of your investment. Keeping an eye on your profits and losses, you can:
- Make informed decisions on your investment strategy
- Identify the areas for improving your commercial approach
- Sets realistic expectations and adapt your investment plan accordingly
Methods for monitoring profit and loss of BTC trading
Here are some ways to monitor the profit and loss of BTC trading:
1.
Use a trading platform with real -time graphs
Many popular cryptocurrency exchanges offer real -time graphics that show the price of Bitcoin (BTC) in real time. These graphic designers can help you view your operations, identify the most informed trends and make investment decisions.
- Some popular trading platforms for monitoring profits and BTC trading leaks include:
* Coinigy: a complete platform that provides detailed graphics, analysis and market data.
* TradingView: an intuitive platform with graphs, news and analysis in real time.
* Bitmex: a professional trading platform with advanced graphic tools and real -time data.
2.
Use a tracker of profits/loss
A profit/loss tracker is a sheet of calculation or an app that helps you to keep track of your investments over time. Using a tracker of profits/losses, it is possible to identify the areas in which your investment has lost value and make changes to your strategy accordingly.
- Some popular software solutions for monitoring profits and loss of BTC trading include:
* Crypto Portfolio Tracker (CPT): a complete platform with data, graphs and analysis in real time.
* Bitcoin Profit Ladder: a simple app that helps you to keep track of your investment performance over time.
* Xignite: a cloud -based bee provider that offers detailed market data and analyzes.
3.
Set warnings for price falls
Pricing falls can be a significant loss of value and the creation of notices can help you capture these drops before they become too expensive. Using an alert system, you can stay beyond your investments and act to mitigate losses.
- Some popular options for setting notices include:
* NOTICES OF GOOGLE: a free service that allows you to set personalized warnings based on keywords or specific phrases.
* IFTTT (if this then): a free automation platform that allows you to create personalized notices and notifications.
* Alpaca Trade: a professional trading platform with advanced warning features and customizable notification settings.
4.
Monitor the transaction commissions
The transaction commissions imposed by exchanges can eat in your profits, especially if you use a high -volume trading strategy. By monitoring the transaction commissions, it is possible to adapt the investment approach to minimize the losses caused by these commissions.
- Some popular options for the management of transaction commissions include:
* Bitpay: a payment platform that helps you optimize transactions and reduce commissions.
* LIVER LIVE: a digital portfolio that provides real -time transactions monitoring and commissions management features.
* Coinbase Pro: a professional trading platform with advanced commissions optimization tools.
Conclusion
The monitoring of profit and loss of BTC trading requires attention to details, but it is an essential part of any successful investment strategy.
