So I've traded stocks for years, and even trading on GDAX is simple enough I buy Ethereum and $330, if I sell it for $340 I've made a profit.
That said I have a really hard time wrapping my head around trading on Bittrex since everything is priced in Bitcoins. Say I buy Factom at $20. Should I make note of the USD price at time of purchase or the Bitcoin price?
Also, if I buy Factom at $20 and it goes up to $30 but Bitcoin goes up say $200, have I really made anything since I have less buying power when I have to go back into Bitcoin to complete the trade?
Another scenario, say I buy Litecoin at $50 and the price of Litecoin stays at $50 but the price of Bitcoin falls $300, have I made money since I have more buying power going back into Bitcoin? I'm winding up with more Bitcoins than when I started?
I've been doing more trading on GDAX lately because I'm really having a hard time wrapping my head around profits and losses on Bittrex trading.
How do you look at your trades and or if your using a profit and loss tracking software or app what are you using? I've tried Cointracking.Info and AltPocket and neither accurately tracks my positions or my cost basis.