Hi guys lets say I wanted to open a new position when my first position gets a -50% PNL what would be the fastest way to calculate this? and what tools could I use so I can open my second position as fast as possible..it would be for crypto exchanges...
It will depend on which leverage you use. If an order is opened, for example, with a leverage of x10, then if the price decreases by 5%, you will have a negative PNL equal to 50%. So you need to place a limit buy order 5% below the price of the first open order.