[By the way today I had realized that I have been blindly moving crypto around, BECAUSE it WAS free money.. Yea it was REALLY stupid of me I know.. I hear you.
I know this is common knowledge among seasoned traders, but to the soon-to-be-seasoned trader (like myself) it may not be all that common. I'm sure there is other ways to calculate it more precisely, but the straightforward equation I happened to learn is all you need to get started.
Its may feel a little convoluted but I think it should do for now. Its easiest seen with larger worth coins.
Remember DYOR and Take Any And All Financial Advice With A Mountain Of Salt!
E * w =z
First, you find the percentage of a coin that you own, such as ETH. The equation would be something to the likes of E * w =z . Where E is equal to the amount that ETH is worth, w represents the amount of ETH that you own, and z being its value.
This can be done with any cryptocurrency and once you have that down all you need to do is inject your target crypto to E.
E- $392.42 * w- 0.02014288 = z- $7.90
E rises to 415.45 so we will go ahead and swap E out with that giving us
E- $415.45 * w- 0.02014288 = z- $8.36
Finding the difference between $8.36 and $7.90 gives us a profit of $0.46.
That is the simplest form of profit tracking! You pull out about three-fourths of that $0.46 giving you $.034. You move that to a stable coin or move it over to a staking account.
Not That One; Yet
Now you have a head-start on that stake, keep a positive on that portfolio, besides the fluctuations of this market, and any fall in worth will be softened by that MASSIVE cushion of a COOL $0.12 Easy!
Enjoy this little tip and good luck on your trades and on that MASSIVE $0.12 cushion!~