How do you know when you are in profit? USD or Satoshi?

[surfinonmyownwavebaby]

You are in profit when the USD amount is bigger than the USD amount you came in with it is as simple as that. But I think most proper traders like to measure in BTC because it makes the game harder and I myself am a competitive person and I want to win in the most competitive environment. The choice is yours but if you play the harder game and can win it, you probably stand to gain more that way than by playing the other way. Although it is easier for the brain to understand when your up in USD your up in USD. Again the choice is yours, don't think too hard about it now!

[1713918082]

1713918082

[hotelmikesierra]

Hello everyone,
nice discussion, thank you for helping.

So let me create an example to see if I got this right:

If I have today an altcoin that is -10% USD compared with the USD price I have bought it, but it is +20% compared with bitcoin price (because bitcoin value has decreased since the time I used it to buy the altcoin) It is a good decision to trade the altcoin now for bitcoin, even if I am losing in terms of USD. So this way (and in particular if I plan to hodl my bitcoin for the long run) I can have more profit than just hodling that altcoin until gaining profit in USD. Correct?

Tks!

[MV7]

Always compare it to Satoshi

I always compare alts investments to how much I would have made if I had just bought bitcoins and not alts. They are probably the best real indicator of price.

For example, u buy a coin at $5 and it goes to 10. Bitcoin however went from 5k to 15k. If you had just not sold bitcoin for alts, you would have made more.

[sloiz]

Always compare it to Satoshi

I always compare alts investments to how much I would have made if I had just bought bitcoins and not alts. They are probably the best real indicator of price.

For example, u buy a coin at $5 and it goes to 10. Bitcoin however went from 5k to 15k. If you had just not sold bitcoin for alts, you would have made more.

I was thinking about this again earlier today and wondered if there is a way in graphically comparing the both?
Like on tradingview showing moving averages for example but then showing the the BTC/USD rate in the same chart?
Does anyone here do that? Showing both the chart of an altcoin and that of btc/usd next to eachother in order to figure out when to buy/sell?

[Mahanton]

Always compare it to Satoshi

I always compare alts investments to how much I would have made if I had just bought bitcoins and not alts. They are probably the best real indicator of price.

For example, u buy a coin at $5 and it goes to 10. Bitcoin however went from 5k to 15k. If you had just not sold bitcoin for alts, you would have made more.

I was thinking about this again earlier today and wondered if there is a way in graphically comparing the both?
Like on tradingview showing moving averages for example but then showing the the BTC/USD rate in the same chart?
Does anyone here do that? Showing both the chart of an altcoin and that of btc/usd next to eachother in order to figure out when to buy/sell?

For sure there are people who do look up on btc chart and seeing if the price is still low or high for them to make decisions either they would sell or decide to hold it up because they cant see big profits when the price of bitcoin is still low. Prices do really correlate to each other specially when you are computing for profits. This thing would really matter but there are some people who dont really matter on satoshi since they are always seeing on usd value.

[aziie110]

The market price only checks when you want to trade the coin in the case you are a day trader I give more preference to the transfer coin dominance rate which is the true measure for the value of a coin

[LogitechMouse]

You are trading cryptocurrency right?? Since you are trading with crypto, your main basis is in satoshi and not in USD. Your main goal as a trader is to increase your number of Bitcoin in an exchange you are using. Most of the alts use BTC as a pair but unless you are using a Fiat currency pairing like EOS/USD pairing then you must use USD as your basis.

[huhhuh18]

I see it this way, once you have your money in the Satoshis or in Bitcoins, you'll get its equivalent when it converts into the dollars. So I think they're the same. The apps and softwares we use to monitor the prices also use the conversion rates at current price and so whether it's in Satoshis or dollars then they're the same. That's my opinion though!

[Jeremiesaranza]

If the instrument is trading only for BTC that USD value is a fraud and looking at it can lose your money. If you can sell your altscoin for USD/usdt than go ahead and check USD value

[Bitcoin_Makers]

If you are confident in the future of the crypto currency and think that Bitcoin will be used in the future as the main method of payment for goods, then you need to take into account the profit in Satoshi and not in USD.

[rugrats]

You are in profit when the USD amount is bigger than the USD amount you came in with it is as simple as that. But I think most proper traders like to measure in BTC because it makes the game harder and I myself am a competitive person and I want to win in the most competitive environment. The choice is yours but if you play the harder game and can win it, you probably stand to gain more that way than by playing the other way. Although it is easier for the brain to understand when your up in USD your up in USD. Again the choice is yours, don't think too hard about it now!

Yeah, as long as you're higher in USD as compared to when you bought you're in profit. The hard decision is to decide how long to hold to still remain in profit and cut out loss.

[Wutip]

Always trying to trade comparing with btc, because I want to have more btc. As bitcoin is a gold, I want to have more gold) if you want to increase your money just buy altcoins and hold)