IDEAL PRO is driving me nuts! Please help. - Page 2
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Thread: IDEAL PRO is driving me nuts! Please help.

  1. #11
    I wonder about the following: If I had started with only USD in my account would this have changed anything? It ought to.

    Even if I don't borrow in the sense of using margin (greater than 1:1) there might still be borrowing going on because I would have to use my foundation to borrow EUR and then utilize those made EUR to buy USD.

    But it might also be that unless you use more than 1:1 the transaction will be traded as money only conversion, not a digital fx position. Many fx traders that trade fx for fx's sake (not carry funded equity holdings) utilize more than 1:1 and would not come across this issue quite often (if ever).

    The really buring question: Imagine if I had traded more than 170k EUR? Could IB have tapped to the further USD and would it have handled it as a margined (greater than 1:1) standing in term of EUR since all the EUR would have already been depleated.

    What a mess. Never dual finance your IB account together with two distinct currencies! If you trade with them whatsoever, in other words. I can appreciate some of the neg opinions.

  2. #12
    Quote Originally Posted by ;
    .. You sure you need to input?
    Honestly? No, not actually, but it has become like one of the chinese puzzles that just can not be put down!

    I'm a couple of glasses beyond coherent tonight and hopefully by tomorrow somebody else will have solved the conundrum

    Nice trade, however, beautifully done, kudos.

  3. #13
    So let me get this straight: you sold EUR's and bought USD. Brief from 1.48 a thing and closed out in 1.28 some thing and you don't have any P/L in your account?

    Were you marked to market every day at 5pm or were you rolled over where curiosity would be taken from your account? From what I see it looks like you had been marked to market however, the statement doesnt give me enough information.

    How do you think financing in two different currencies influenced this trade?

    Above all what the F did IB tell you? Lets start there...

  4. #14
    Quote Originally Posted by ;
    Then I took a short position on the EUR/USD in 1.4680 and just closed it out in 1.2880.
    Plain and simple, this is 1800 pips profit.
    You earned USD1,800 (or even EUR2,318.40) on a mini trade, or USD18,000 (or even EUR23,184.00) if it was a short 1 total lot.

    Correction:
    You earned USD1,800 (or even EUR1,397.51) on a mini trade, or USD18,000 (or even EUR13,975.15) if it was a short 1 total lot.
    EUR1,397.51 = USD1,800 / 1.2880 EURUSD


    Quote Originally Posted by ;
    But it seems that with IDEAL PRO you just get the original EUR back that you sold, the profit isn't closed in USD (my base currency).
    Can I know what's the profit IDEAL PRO gave you?

    Those discussion regarding 1:1 leverage are entirely irrelevant from the computation of both PnL.
    In the event that you lost $1000, you lost $1000!
    In the event that you won $1000, you won $1000 plain and simple.
    UNLESS you are trading in some kind of Profit Sharing schema wherein broker claiming to split the cost of PnL (either you win or lose) 50-50. Yes there are a number of brokers in this way usually on Muslim accounts.

  5. #15
    Quote Originally Posted by ;
    Plain and Simple, this can be 1800 pips profit.
    You either got USD1,800 (or EUR2,318.40) on a mini trade, or USD18,000 (or EUR23,184.00) if it was a short 1 total lot.




    Can I know what is the profit IDEAL PRO gave you?

    Those discussion seeing 1:1 leverage are totally irrelevant in the computation of PnL.
    If you dropped $1000, you dropped $1000!
    If you won $1000, you won $1000 simple and plain.
    UNLESS you are investing in some kind of Profit Sharing schema wherein broker claiming to split the cost of PnL (possibly you win or lose) 50-50. Yes there are some brokers like this usually on Muslim accounts.
    BK,

    Hav eyou heard of IB? We are not speaking about some Muslim broker. I noticed in your example you forgot to discuss curiosity which would play a big part on PnL using a short EUR postion. Additionally, converting PnL into a base currency could impact pip values so there's a lot to discuss. That is why I wish to hear what IB must say.

  6. #16
    You marketed 170k EUR at 1.4684 and got for that ~249000 USD. Then you bought back 170K EUR at 1.2884 and had to give back just ~219000 USD. That should give you a gain of ~30000 USDs and just a money position. If you would like to modify your own USD balance into a different currency, simply make a transaction for that amount.

    For example, if you would like to modify your own 30K USD profit into EURs having an EUR/USD exchange rate of 1.2800 you'd buy 23437 EUR/USD (30000/1.2800) - that would deduct 30K USDs and adds 23437 EURs for your balances, again leaving you without a margined positions (assuming you didn't trade anything else).

    At least that was the way when I had an IB account years ago. IB reporting of money positions and PnL for Forex is a bitch, apparently it didn't change considerably.

  7. #17
    Quote Originally Posted by ;
    You marketed 170k EUR at 1.4684 and got for that ~249000 USD. Then you bought back 170K EUR at 1.2884 and had to return only ~219000 USD. That should give you a gain of30000 USDs and only a money position. If you want to modify your USD balance into another currency, simply make a transaction for that amount.

    By way of example, if you want to modify your 30K USD profit into EURs with an EUR/USD exchange rate of 1.2800 you'd buy 23437 EUR/USD (30000/1.2800) - that will deduct 30K USDs and adds 23437 EURs for your accounts, again leaving you with no margined positions (assuming you didn't exchange anything else).

    At least that was the way when I had an IB account years ago. IB reporting of money positions and PnL for Forex is a bitch, apparently it didn't change considerably.
    I saw it the exact same way but from what fxterp was stating his account fairness didnt reveal that. Waiting to hear from him

  8. #18
    Quote Originally Posted by ;
    I found it exactly the same way but from what fxterp was stating his account equity didnt reveal that. Attempting to hear from him
    I've gone over his numbers, and I think he is drunk on walnut syrup (inside joke).

    Fxterrapin,
    Please inform me that my last PMs were incorrect, otherwise you could have me calling into question the whole mantra of 'German engineering'.

  9. #19
    Quote Originally Posted by ;
    I'm not sure that is accurate, where on IdealPro is Jpy/Usd or even Cad/Usd for example? How would you convert Yen or Cad P/L into USD (irrespective of size)? I believe just on Ideal.
    You'd simply trade the guide pairs in the opposite direction of your initial trade in the quantity of your PL (such as PL gt;$25k USD). When trading cross rates, you need to convert both sides back. .

    Quote Originally Posted by ;
    Like I said in my very first response I'm going from memory of if I had an IB account, even then I recall it being unecessarily complied.
    It is unnecessarily complied, and we have not even delved into the problems of accounts or currency cross margins (these are completely different stories entirely. .) .

    The Ideal/IdealPro difference was supported by IB reps on an elitetrader thread.

  10. #20
    Quote Originally Posted by ;
    I am a couple glasses past coherent tonight and hopefully by tomorrow someone else will probably have solved the conundrum


    Quote Originally Posted by ;
    Nice trade though, beautifully done, kudos.
    Thanks.

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