Trading is fun all by itself, but actually earning a sizable profit is more fun.
Recently I have been working on writing software to interface with the HitBTC API, because I'm also building a 'robot' that I can talk to and give instructions, via Bluetooth headset/earbud, or if I'm not wearing it, it texts me and I text it back. I'm writing a component of my overall 'robot' to be able to express information to me, recognize signals that I train it for, and cooperate with me to execute trades.
One task that was necessary early on was to figure out the actual break-even price. It is not as simple as just calculating (current price / quantity) because there are costs associated with exchange rates and other fees.
After some hours of working through numbers and software code, I finally had a working module to help me easily figure out the break-even price of any coin, based on HitBTC's .001 transaction fee for buying or selling.
Below is the basic formula in pseudocode, and below that, also for an .xls spreadsheet, in case you're not a programmer, but could use a break-even calculator.
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buyprice = purchase price
fee = .001 (depending on the exchange)
buycost = (buyprice + (buyprice x fee))
buyqty = purchase quantity
buytotalprice = (buyprice x buyqty)
buytotalcost = (buytotalprice + (buytotalprice x fee))
breakeven = (((buycost / buyqty) / 9) x 10)
proof = (breakeven * buyqty) - ((breakeven x buyqty) x .1)
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for an .xls spreadsheet to calculate break-even prices, just copy and paste the following in the cells indicated, and then input the price and quantity for each coin:
A1: original price
A2: (manually enter the original price)
B1: buy quantity
B2: (manually enter the quantity)
C1: original price total
C2: =(A2*B2)
D1: original cost total
D2: =(C2+(C2*0.1))
E1: breakeven price
E2: =(((D2/B2)/9)*10)
F1: proof
F2: =(E2B2)-((E2B2)*0.1)
