How to Use the Crypto Futures Calculator:
- Select Trading Pair:
- Choose the cryptocurrency you want to trade from the “Coin” dropdown. The default is Bitcoin (BTC).
- Select the currency you want to calculate profits in from the “Currency” dropdown. The default is US Dollar (USD).
- Set Trading Direction:
- Use the toggle switch to select your trading direction. “Long” for buying, “Short” for selling.
- Enter Trade Details:
- Specify the leverage you plan to use.
- Input your initial investment amount (chosen currency).
- Enter the entry price for your trade (chosen currency). Default is the asset’s current price.
- Provide the exit price for your trade (chosen currency).
- Review and Calculate:
- Verify all input details.
- Click the “Calculate” button to see the potential profit or loss for your trade.
- The result will be displayed, indicating the amount and currency of potential profit or loss.
- Additional Information:
- The tool fetches the latest price of the selected cryptocurrency every 5 minutes.
- You can change the trading pair and currency anytime to recalculate potential profits.
- Notifications:
- In case of errors or issues, a notification will appear at the top. Check for any error messages and ensure your inputs are accurate.
Feel free to reach out for any assistance or clarification by contacting pschoe@materialize-thoughts.com. Happy trading!
If you like to read more on trading have a look at my trading journal series.