Hi guys, I've been lurking in this group. And I decided to ask this question here - I know that it doesn't relate exactly to dev, but it's about crypto. I would be grateful if you tell me where I can find help wrt to questions like this _

How do I calculate the entry position for BNB/BTC deal?

Hi guys,

I trade on Binance.

My account currency is BUDS (just want to have the USD-pegged stablecoin as the account currency). I assume that it's always pegged to $1...

My account amount is $1000.

I want to sell BNB/BTC because I believe that the chart is going to go down.

My SL is at 0.0026700, and my entry is at 0.0026340. I want to enter on the spot market. Thus, the SL BTC-wise is 0.0000360.

I want to have the 1% risk exposure to my account (i.e. the exposure for -$10).

(and just fyi I plan to exit at TP = SLx2; and just fyi, I use the mental SL and TP)

How to I calc the actual amount for my order. As far as I understand, I need to first convert the BTC-wise SL distance from BTC to USD, right? I.e. 0.0000360 BTC x 10500 $ = 0.4$. So, I got this part, but I am not getting what my next steps should be.

Thanks for your advice in advance!