Risk, Account & Money Management
Discuss about risk, account & money management
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RECENT POSTS
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My best and worst trades from October 20th, 2020. -
I chatted with an IB representative who was very helpful. In short, it seems like there is nothing to worried about when it comes to the exchange rate. I don't think you have to convert everything to USD (or deposit in USD) either. Here is an example. If I have $1,000 CAD and $0 USD and I want to buy a $100 stock, then I am borrowing $100USD from IB. At this point, I have -$100 balance in USD. If I have a winning trade and now I sell the stock at $120, then I have a $20 profit. My USD account balance now will be $20. If I lose and sell the stock at $80, then now I have -$20 balance in USD. For -$20, I will have to pay some interest to IB or you can convert the amount from your CAD balance. As you can see, there is no place for the exchange rate to come in because I would be simply trading in borrowed USD, not CAD that is converted to USD. However, the exchange rate changes every day and when it comes to the total balance shown in USD it changes every day even if you don't trade at all. With the $1,000 CAD scenario, if the USD/CAD exchange rate is 0.8, then your balance in USD is $800, but if the rate drops to 0.78, then the balance will be $780. You would still have $1,000 Canadian. If the CAD value drops significantly, then the total value of your balance in USD drops significantly too and even if you win some trades (in USD), you may have less USD equivalent (as your base currency) at the end of the day than when you started trading in the morning. I think it is what happened to the OP. But I believe you would still have your original CAD balance in your account (plus the positive USD won in the trades). -
By JOSECALCAS · Posted
Thanks for sharing, however the link https://www.behance.net/gallery/27641581/Classic-Chart-Patterns-Print told me "Oops! We can’t find that page." Could you give and advise how to get that quality images. Thanks -
From CMEG: Please be advised that there were some changes to the Route name on the platform. The LAMP/SMART route has been replaced by LAMPOST/PDQ route. If you have any other questions, please call us at 833-445-9086 or send an email to [email protected] -
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