Post
Topic
Board Trading Discussion
Re: What I think every trader should do to stay in the green
by
winrate.io
on 17/12/2020, 00:08:16 UTC
Well, no. I do not make any money on this website, so I wouldn't call it advertising. I genuinely think this is a helpful tool for all traders. I built it for my own use and now it's publicly open to anyone to use as well.
I thought I saw something about promoting Bybit exchange and how it was better in terms of fee. It had your referral link. Don't get me wrong though. I am not against using referral links and you deserve to earn something from your affiliate for your hard work Smiley. Indeed this is going to be helpful for a lot of people and you did the right thing sharing it with everyone.
Curious though, how are all the net profit from bybit almost double?
If you have seen a tool like this, please let me know, because I haven't found anything like this at all. Only for the forex market.

Thanks for the feedback, I appreciate it!
I was talking about those demo account where you can simulate trading without risking anything and hence try out startegies.

You can change the win rate by changing the win rate in the input field.
I meant how do you determine that. But then got to know it's the same thing as win-loss ratio.

The net profit can actually vary a lot depending on which exchange you use. I don't want to name any specific exchanges here, but let me give you an example on how different the fees can be:

Exchange 1
Limit order fee %: 0.1%
Market order fee %: 0.2%

Exchange 2
Limit order fee %: -0.025% (means you earn money on your fee rebates)
Market order fee %: 0.075%

Exchange 1 will not be profitable for a scalper for example, while Exchange 2 could be very profitable for a scalper.

When I started out day trading, I used an exchange like Exchange 1. When you think about it, if you enter the position with a market order (which I often did) and then lost the trade. I would actually lose -0.4% only on fees. So lets say I had a 1:1 RR at 1%. I would then lose -1.4% on my losses and only make +0.7% on my wins.

I didn't realize that this could make or break my trading until I used my Google Sheet. And when I create my website, it made it even more clear what effect different strategies had.

Hope it clear things up.