Trend Trading on Futures

Discussion in 'Journals' started by Shirak, Mar 24, 2011.

  1. Shirak

    Shirak

    Rightly spoken, and exactly what I intend to do.

    These are my current positions. Currently, I'm looking forward to seeing how GBP and CAD turns out. Chart-wise, GBP looks poised for an upward surge and CAD for a continuation in trend.

    Btw,

    Can anyone enlighten me on what the P/L column stands for? Sorry, I don't really know how to use this platform well.
     
    #11     Apr 20, 2011
  2. P&L stands for Profit & Loss.
    It's the one you want to see only Green in across the board. :)
     
    #12     Apr 20, 2011
  3. emg

    emg

    if u are long on all those markets, u are a 3rd party educational vendor.
     
    #13     Apr 20, 2011
  4. Shirak

    Shirak

    ?

    What in god's name are you talking about?

    I've already posted screenshots of my IB workstation.

    Yes I get that, but if you look at my screenshot, you'll see 3 columns. P&L, Unrealized P&L and Realized P&L. I'm asking about that.
     
    #14     Apr 20, 2011

  5. Ahh the beauty of trading - anyone can join the game and give it a try. And then proceed to one of emg's stats.

    1 - Learn your platform BEFORE trading on it, not after.

    2 - You should really know what the p/l's are telling you BEFORE trading, not after.
     
    #15     Apr 20, 2011
  6. Shirak

    Shirak

    I did not have the P/L column before. Obly after I re-installed the platform. Why would I need that when I have my unrealized, realized and NLV? I'm good enough with those 3.
     
    #16     Apr 20, 2011
  7. From the TWS user manual:

    P&L:
    Displays gains or losses. To modify the P&L calculation used, right-click the field and select or deselect Include today's opening position in P&L calculation.

    Unrealized P&L:
    Calculates unrealized P&L for stocks, stock options and futures options. Unrealized P&L is calculated using the formula:

    (current market price - average cost/share) x total number of shares

    The average cost per share is updated in realtime. This field is automatically added to the Trading window when the customer takes a position. Once removed it is not automatically added again.

    Realized P&L:
    Calculates the realized profit and loss per position.
     
    #17     Apr 20, 2011
  8. Shirak

    Shirak

    Ok screw my question. I don't need to know what that column stands for.
     
    #18     Apr 20, 2011
  9. I'm pretty sure the P&L column shows a mix of your realized + unrealized P&L for that instrument in real time. For example, if trading CL, and you had already realized $500 in losses that day, but had an open trade with $300 in unrealized gains, the P&L column should read $200.
     
    #19     Apr 20, 2011
  10. Shirak

    Shirak

    Yes I did think of that, but they don't add up.
     
    #20     Apr 20, 2011