4) Set up exit positions
The step-by-step tutorial to master Crypto Excel.
I) For the entire portfolio
In the bottom left-hand corner of your dashboard, you can set up a limit threshold as well as a target price to your portfolio.
In investment jargon, these two metrices are called “Stop-Loss” (SL) and a “Take-Profit” (TP). If you wish, you can define these orders on your trading platforms. Your positions will then be automatically closed.
To display the video below fullscreen, double-click or press the “F” key.
In the example above, the value of our portfolio is €573.
If you define a stop-loss alert at €500 and a take-profit alert at €1000, your portfolio is currently between the two thresholds. Everything's fine, you don't have to do anything, which explains the green indicator: “STRATEGY OK!”.
But if you've set your take-profit alert at €550, your portfolio has exceeded the profit threshold. In this case, the indicator turns red and tells you to “TAKE PROFITS”.
On the other hand, if you have set your stop-loss alert at €600, your portfolio is below the loss treshold. A red indicator tells you to “CUT LOSSES”.
Here is the main advantage to set up portfolio-level alerts:
When you log in to your dashboard, you see what's going on in the blink of an eye. You don't have to make specific decisions for each cryptocurrency in your wallet.
What's more, cryptos tend to go up and down relatively at the same time, so this alert can quickly tell you about a trend reversal in the markets.
II) For a cryptocurrency
Most of the time, you own several cryptocurrencies in your portfolio.
In a way, you've made a bet for each crypto you hold, and you want to have as many winning positions as possible.
We're going to perform a similar method to the previous one, but this time the setting will apply to a single cryptocurrency.
Here, you can set up 3 successive “Take-Profit” target prices: TP1, TP2 and TP3.
The point is that, rather than taking out all your capital at once (at the risk of doing it too early during a bull market), you choose instead to take profits regularly, at different stages. By doing so, you inevitably increase your profitability.
Case study
You've just bought some Solana at €60 and you want to define a strategy.
Click the button “Strategy” to open the corresponding popup.
You just need to fill 2 fields for each threshold (TP1, TP2, TP3 ans SL), 8 in total!
To display the video below fullscreen, double-click or press the “F” key.
You set up the target price for TP1 at €120. In this case, you wait until your earnings have doubled before taking your first profit. Once you've set the exit percentage (e.g. 10%), Crypto Excel automatically calculates the capital you'll need to withdraw when Solana reaches €120. As for the remaining capital (here, 90%), it continues to be invested in Solana.
For TP2, you set up the target price at €240, which means you've quadrupled your profits. This target price also refers to the “ATH” (All Time High), Solana's highest price ever. As this is a very strong psychological price, you decide to take out half of your position (50%) at that point.
Finally, for TP3. Let's assume that Solana has a bright future ahead. In this case, you set up your target price at €500 and will withdraw 95% of your capital if this price is reached. You can always buy Solana after prices have fallen during a bear market.
And what if Solana collapses? To remain on the safe side, you set up a Stop-Loss (SL) at €30. If the Solana falls by more than than 50% compared with your purchase price, you consider the performance of Solana is disappointing and decide to protect your capital before incurring further losses. For example, you withdraw 80% of your capital and leave the remaining 20% in case the market rises again.
Once this is done, the columns TP1, TP2, TP3 and SL are filled with the target prices you've just set.
N.B.: If you wish to define only one profit threshold, only fill in the two fields for TP1: “Target price” and “% exit”.
You may as well leave TP1, TP2 and TP3 empty and only fill in the fields for SL. Or vice versa.
In short, you have complete freedom when it comes to configuring your exit positions.
Finally, if you wish to delete a strategy, remove the values from the fields “Target price” and “% exit”.
Which price objectives should you set?
At this stage, you may be asking yourself:
What if I don't know what thresholds to set? 🤔 Especially as I have to do this for every cryptocurrency I've invested in!
To start with, it's probably a good idea to only invest in what you're comfortable with 😅
We also advise you to define a clear strategy beforehand for each asset you hold in your portfolio: when to take profits? when to cut losses? etc.
It's best to do this in a calm environment. Because once the market becomes volatile, you won't be able to make the right decisions.
Fortunately, Crypto Excel is designed for both experienced investors and beginners, so that everyone can take advantage of the cryptocurrencies opportunity.
In the next section, we'll look at how you can define automatic exit positions.
These will apply to every cryptocurrency in your portfolio, without you having to set any target prices!
Ain't life grand?
Feel free to comment if you have any questions. We'll keep improving this documentation based on your feedback.
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