IB Forex : IB Ideal Pro Trading

Discussion in 'Forex' started by Digs, Jan 17, 2006.

  1. Digs

    Digs

    Papar trade where, how, show me !!
     
    #11     Jan 18, 2006
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  2. Digs

    Digs

    Late Apex thanks for you help...
     
    #12     Jan 18, 2006
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  3. ids

    ids

    Just open a regular account with IB and go to Account Management/Trading Access/Paper Trading.
     
    #13     Jan 18, 2006
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  4. Digs

    Digs

    Ok I think I finally understand IB IDEAL PRO Forex service.

    I want to make sure I trade the correct DOLLAR amounts value of the forex GBPUSD ( price 1.7683) with margin at 50:1.

    So if I wanted to trade a total value of GBPUSD with margin $300,000 every time.

    GBPUSD Value : $300,000
    Rate : 1.7683
    QTY required in IB software = (1/1.7683)* $300,000 = 169,654
    PIPS Value per point $16.96
    Margin required = $300,000/50 = $6000

    So if I traded AUDUSD, with the same $300,000 I just change the forex rate.

    Is this correct ?
     
    #14     Jan 18, 2006
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