FOREX position in Interactive Brokers
FOREX position in Interactive Brokers
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Andreas Wederbrand · External communityPost link
External question — Personal Finance Stack Exchange
Author: Andreas Wederbrand
Original post: https://money.stackexchange.com/questions/96366
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
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I've deposited money in EUR and my base currency is SEK.
I exchanged all of those Euros into SEK and since then I have a position of
EUR.SEK that is that deposited amount negative. As the exchange rate goes up and down so does my P/L.
I think this is weird, I'm a missing something? I have no intention to exchange those SEK back into EUR. I'll do some trading but eventually transfer it all out as SEK.
Can I get rid of that position?
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Attack68 · External communityPost link
External answer — Personal Finance Stack Exchange
Author: Attack68
Original post: https://money.stackexchange.com/a/96368
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
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Yes you can get rid of the position. I can't quite remember where, possibly in the accounts section in TWS, but you can edit positions to change outstanding notional and initial price.
It obviously doesn't affect your portfolio value, but I agree it can be a bit annoying if you rely on the daily PnL figure for some information about price movements and vol of your portfolio.
Edit by OP:
There are two types of
destination
; IDEALPRO and FXCONV.
When using webtrader IDEALPRO is the only option and when using TWS it's possible to choose.
Exchanges made with IDEALPRO always creates a Virtual FX what was what I where seeing.
Using TWS it's possible to change the amount (and value) of those virtual FX and if the value is changed to 0 it disappears.
Also, in Webtrader they does't show as virtual but as positions which is confusing. In TWS they are shown separately.
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Vladimir · External communityPost link
External answer — Personal Finance Stack Exchange
Author: Vladimir
Original post: https://money.stackexchange.com/a/159350
License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/
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In TWS you can do it by switching to Classic TWS and using Trading Tool -> Rebalance Portfolio.
You can specify Target% 0 for all positions you don't need and system will create orders for you.
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Quoted from Forex.com.bd-Editorial External answer — Personal Finance Stack Exchange Author: Attack68 Source score (net votes, not local likes): 3 Original post: https://money.stackexchange.com/a/96368 License: CC BY-SA 4.0 — https://creativecommons.org/licenses/by-sa/4.0/ Adaptation: HTML converted to plain text; contact email addresses removed. Yes you can get rid of the position. I can't quite remember where, possibly in the accounts section in TWS, but you can edit positions to change outstanding notional and initial price. It obviously doesn't affect your portfolio value, but I agree it can be a bit annoying if you rely on the daily PnL figure for some information about price movements and vol of your portfolio. Edit by OP: There are two types of destination ; IDEALPRO and FXCONV. When using webtrader IDEALPRO is the only option and when using TWS it's possible to choose. Exchanges made with IDEALPRO always creates a Virtual FX what was what I where seeing. Using TWS it's possible to change the amount (and value) of those virtual FX and if the value is changed to 0 it disappears. Also, in Webtrader they does't show as virtual but as positions which is confusing. In TWS they are shown separately.
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