A common mix-up: a 100% gain doubles your money (2x), but a 200% gain triples it (3x), not 4x — each further 100% of PnL adds one more multiple, it doesn't double the previous multiple again. Below -100% is only possible with leverage or margin, where losses can exceed what you put in.

🇵🇹 This is the gross multiple, before tax. In Portugal, gains from selling shares, ETFs, or crypto held under a year are generally taxed at a 28% flat rate (mais-valias) unless you opt to include them in your overall IRS bracket, which only makes sense at lower income levels — so what you actually keep is smaller than this multiplier suggests. Confirm current rates before relying on this for a real decision.