i use interactive brokers and i find that you have to keep track of trades a lot on your own.
lets say i go long on EURUSD at 1.2000. I buy 25,000 Euros. My account will show 25000 Euros and negative 30000 USD (25000 * 1.2000). Lets say EURUSD goes to 1.5000. If I want to take some profit, i then have to calculate what amount of USD at the current price will then give me 25000 Euros. This is easy, its just 25000/1.5000.
However, when I make a lot of trades and my currencies get crossed...I find myself fumbling for the calculator and getting things mixed up.
Is every brokerage set up this way? Or is it just IB?
lets say i go long on EURUSD at 1.2000. I buy 25,000 Euros. My account will show 25000 Euros and negative 30000 USD (25000 * 1.2000). Lets say EURUSD goes to 1.5000. If I want to take some profit, i then have to calculate what amount of USD at the current price will then give me 25000 Euros. This is easy, its just 25000/1.5000.
However, when I make a lot of trades and my currencies get crossed...I find myself fumbling for the calculator and getting things mixed up.
Is every brokerage set up this way? Or is it just IB?