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BTC trading profit and loss monitoring: Guide to track your investment
As a Bitcoin investor, it is natural that you want to follow your profit and loss in real time. However, with so many exchange platforms and services, it can be extremely difficult to follow your transactions. In this article, we will explore ways to monitor BTC trade profits and losses, including tips on browsing operation fees such as GDAX.
Why monitor your BTC trade profits and losses?
Before you dive into your BTC trade profit and loss monitoring methods, let’s quickly discuss why you need to keep track of your investment. By carefully observing your profit and loss, you can:
- Make reasonable decisions on your investment strategy
- Set up the areas of your trade attitude improvement
- Set real expectations and adjust your investment plan accordingly
BTC trade profit and loss monitoring methods
Here are several ways to monitor your BTC trade profits and losses:
1.
Use a trading platform with real -time charts
Many popular cryptocurrency exchange offer real -time charts that show real -time Bitcoin (BTC). These charts can help you visualize your transactions, set trends and make more reasonable investment decisions.
- Some popular trading platforms to monitor BTC trading profits and losses include:
* Coinigy: A detailed platform with detailed charts, analysis and market data.
* Tradingview: A user -convenient platform with real -time diagrams, news and analysis.
* Bitmex: A professional trading platform with advanced chart tools and real -time data.
2.
Use a profit/loss monitoring tool
A profit/loss monitoring is a spreadsheet or program that helps you monitor your investment over time. By using a profit/loss monitoring tool, you can set areas where your investment has lost value and adjusts your strategy accordingly.
- Some popular software solutions to track BTC trade profits and losses include:
* Crypto Portfolio Tracker (CPT): A detailed platform with real -time data, diagrams and analysis.
* Bitcoin profit ladder: A simple app that helps track your investment results over time.
* XIGNITE: The API provider, which is based on clouds, offering detailed market data and analysis.
3.
Set alerts for price drops
Price drops can dramatically lose value, and warnings can help catch these drops before they become too expensive. Using a warning system, you can stay at the top of your investment and take action to soften the loss.
- Several popular warning options are:
* Google Warnings: A free service that allows you to identify custom warnings based on specific keywords or phrases.
* IFTTT (if that then): Free automation platform that allows you to create optional warnings and messages.
* Alpaca trade: A professional trading platform with advanced warning features and customized messages.
4.
Observe operation fees
Exchanges set by operations can eat your profit, especially if you are using a large -scale trade strategy. By monitoring operation fees, you can adjust your investment method to reduce the losses caused by these taxes.
- Several popular operations tax management options include:
* Bitpay: Paying platform to optimize operations and reduce taxes.
* Ledger Live: Digital wallet providing real -time operational monitoring and tax management functions.
* Coinbase Pro: A professional trading platform with advanced tax optimization tools.
Conclusion
Monitoring BTC trade profits and losses should be paid to details, but it is an essential part of any successful investment strategy.
