How to measure results at crypto trading

Do you remember how your mother taught you to keep things in order? Like at our home, the same goes for business, everywhere the discipline is binding. Today we will talk about an activity, which everyone likes – about counting money. 

Crypto trading – is a very demanding activity, which requires extraordinary responsibility, accuracy, and patience. Despite that investing in crypto seems to be such a game or a casino, where people are making money hand over glove without any effort, it still requires particular skills and much experience. 

It doesn’t matter how much money you have at the crypto exchange platform, establishing management and calculating your income will help to develop in crypto trading with confidence. Let us discover why it is necessary. 

Why are measuring results needed?

Summing up the results after every week, month, or quarter will help you see the whole pattern. You can correct mistakes and gain priceless experience, comparing dealing with different tokens and following various strategies. 

We prepared a list of tips on measuring results at crypto trading while having different coins in your portfolio and using different cryptocurrency trading strategies. Check out the info below to learn below. 

How to calculate profit in crypto trading? 

• Make notes 

Systematise your crypto trading performance and provide a place for every point in a particular column, where you should write down:

1. Amount of money, which you invest in. At first, always write down the amount of money that you added to your wallet. 

2. Price changing of selected cryptocurrencies and their comparison. For example, invest in Bitcoin and Ethereum and monitor their prices and moves every day, noting the profit and loss (PNL) of your portfolio. It will help you to gain experience and to get familiar with coin charts. 

Also, it will be helpful to try trading at different pairs, like ETH/USDT and ETH/BTC, where sometimes it can be better to use the second one. 

3. Your entry and exit points of every coin. You can check out your orders history right in your crypto exchange platform, but it seems to be uncomfortable. You can write it down in a notebook or create a table in Excel or Google Sheets for tracing the benefits of your activity and its calculation.

4. Profits of every trade. While calculating the profit during the quarter, enter all the successful and unsuccessful trades to avoid making mistakes. Also, you can mark ones based on signals. Maintaining such a schedule will let you determine how successful you and your strategy was. 

• Try different cryptocurrency trading strategies

Some use a swing cryptocurrency trading strategy; others prefer scalping, try both and choose the better one for you. Nothing prevents you from varying your routine with automated trading, which covers a bigger part of the market. For instance, you can trade on your own following swing strategy and “hire” a bot for scalping. 

As for our bots, which are connected with all the best crypto exchanges, our cryptocurrency trading bot integration lets you automate your trades by following our signals and placing them directly into your exchange. The bot copies our take profits, stops losses and can even be fully automated.

While scalping, just for the record, don’t forget to consider calculating fees, which can become tangible according to a large number of trades. 

• Establish risk management that meets your needs

Make notes after every trade, increasing or reducing the risk and checking out the results. Learning from your own mistakes will help you choose your trading style, which you should try independently. 

• Set goals and highlight achievements

Create a list of desirable goals, for example, for one month forward and mark reached ones. 

It will be a great motivation to develop and earn more and more. 

How to improve crypto trading performance with signals

Is crypto trading profitable? That’s the question of all newbies, who want to start their crypto trading activity. Fortunately, here comes a solution – trading signals.

Trade like a king both: on the spot and futures, even during the bear run. Make money even without experience, relying on sublime signals. 

“There is a time to go long, a time to go short and a time to go fishing.” – Jesse Livermore.

When looking for a proven signals service, check out the statistics first. You can check out our telegram channel with trading results to confirm our honesty.