Hello guys I have a Interactive Brokers account and wanted to trade forex, but I strugle to understand how the profit/loss is calculated ( or where it is even shown ) IF I buy usdchf the currencies will be split, and the money shown on each of the currency, so I have to calculate the p/l myself I guess. Someone who trades FX on IB mosaic platform, could you give me some insight pm how to understand FX on this platform, I'd appreciate it.
I've been trading with ib for years. I would never use mosaic. Your question just verifies how confusing it is. Go to classic (if you can't get there call ib) and open Account Window. Keep in mind there are two windows, one for vitual and one for real. It sounds complicated but the old tws is very easy to understand after a few days playing in paper.
Hmmm, in Mosaic the "Account Window" looks the same as it does in TWS Under "Market Value - real FX balance I see 3 currencies - CHF, NZD, USD and since I was only buying nzdchf ( afaik) I am confused why there is USD currency on the list. Regardless, under the "unrealized" I see 0 next to CHF and NZD, but USD shows me 153 What gives?? How do you make sense of the p/l? Also, if you could clear this up for me - The minimum position size is 35k (so it doesn't get routed as an odd lot number) Does the 35k position size equals 0.35 Lots, as seen on most mt4 brokers? And 100k in IB being 1 full Lot in mt4 broker. Thank you
open up the window called fx portfolio-virtual fx position. If usd is your base currency usd will show up in your real fx account window, but your virtual window will only show pairs you have on. I keep my real window closed unless I want to see what the real position is, otherwise I just use the virtual window. There are no such things as lots with ib, as long as you can make the minimum. My guess other brokers call 100k a lot.
Thank you, found it. Looks like I got some 79usd in paper profits And about the lots, yes, 100k must be 1 lot, hopefully. If someone can confirm, be my guest.