Calculation Confusion

[JailHouse]

I'm trying to figure out how to calculate this for the sheet...

I'm going long on a trade.

I enter XRP at 0.6221 and I intend to exit at 0.6247 (TP).
But I also intend that when the price reaches halfway (0.6234), I sell half my position and let the other half ride on until it hits the profit target.
I am risking 1% of my $2000 account ($20) on the trade.

How would you make a formula for this, in words?

Appreciate the help,

JH

[1715272383]

1715272383

[1715272383]

1715272383

[Faisal2202]

I'm trying to figure out how to calculate this for the sheet...-cut-

I am a regular user of Trading View but have never used it for trading directly on it, because it has a lesser number of brokers, and the fee they are deducting and trading view is deducting is not something I agree to pay because the most I have to do is, do my calculations on trading view and can make the trade on the phone using the exchange I want.

It might be the broker you are using, charged this much fee, you have to be more specific, like which broker you used. I would suggest you to use exchanges manually not from a trading view.

[Hamza2424]

I'm trying to figure out how to calculate this for the sheet...

I'm going long on a trade.

I enter XRP at 0.6221 and I intend to exit at 0.6247 (TP).
But I also intend that when the price reaches halfway (0.6234), I sell half my position and let the other half ride on until it hits the profit target.
I am risking 1% of my $2000 account ($20) on the trade.

How would you make a formula for this, in words?

Appreciate the help,

JH

Hmm, interesting anyway I'm bad at maths hehe, still, I can help by using some resources which Op you can also utilize to have a proper solution for such que=ries sometimes they work efficiently but most of the time they don't here's an example.

Directly generated from the Bard ai

1. Calculate mid-point exit price:

    Midpoint_Price = (Entry_Price + TP) / 2
    In your case, Midpoint_Price = (0.6221 + 0.6247) / 2 = 0.6234

2. Calculate number of XRP units:

    Units = Risk_Amount / Entry_Price
    In your case, Units = $20 / 0.6221 ≈ 32.15 XRP (round this to the nearest whole number for trading)

3. Calculate half position size:

    Half_Position = Units / 2
    In your case, Half_Position = 32.15 XRP / 2 = 16.08 XRP (round this to the nearest whole number for trading)

4. Sell half position at mid-point:

    If market reaches 0.6234 or above, sell 16.08 XRP.

5. Calculate remaining position size:

    Remaining_Position = Units - Half_Position
    In your case, Remaining_Position = 32.15 XRP - 16.08 XRP = 16.07 XRP (round this to the nearest whole number for trading)

6. Sell remaining position at TP:

    If market reaches 0.6247 or above, sell the remaining 16.07 XRP.

7. Calculate profit on both positions:

    Profit_Half_Position = Half_Position * (Midpoint_Price - Entry_Price)
    In your case, Profit_Half_Position = 16.07 XRP * (0.6234 - 0.6221) ≈ $0.21
    Profit_Remaining_Position = Remaining_Position * (TP - Midpoint_Price)
    In your case, Profit_Remaining_Position = 16.07 XRP * (0.6247 - 0.6234) ≈ $0.21

8. Total Profit:

    Total_Profit = Profit_Half_Position + Profit_Remaining_Position
    In your case, Total_Profit = $0.21 + $0.21 = $0.42

[JailHouse]

Thanks a lot for this, but it doesn't match up to what TradingView has calculated for me.

Any way to reconcile?

BTW, when I say $20 risk,  mean that I placed my stop loss $20 away (1% of my account).


JH