IB TWS: Foreign Cash conversions Ideal / Ideal Pro

;-) dont worry, the standard responses are of those who have a very hard time comprehending what the actual point was.

Quote from Ridu:

What does account size have to do with it? did I say how large or small a balance I am converting to cover negative foreign currency? This is irrelevant!
I'm not here to bash IB, I am extremely happy with IB in all other respects, they are a great broker. I am here to point out what looks like a design flaw in TWS for reporting cash conversions in Ideal / Ideal pro. Any cash conversions back to base currency are logged as an open trade in TWS portfolio window. These should not be reported here as they are conversions to base currency, they should not be shown as part of daily P&L.
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Ok, then what do I need to do for my situiation: I have a negative Yen balance under "Market Value" window in the Account. I have in the past clicked the "close all non-base currencies" and then it puts my into a USD/YEN fx position and would display under "FX portfolio". Then I would close the fx position and it's back to negative balance in Market Value.
 
close the non-base currencies as you described but dont do anything else, trade wise. Simply right click on "adjust average price" on the fx position in the fx portfolio pane and set the amount to zero. Done...




Quote from Stok:

Ok, then what do I need to do for my situiation: I have a negative Yen balance under "Market Value" window in the Account. I have in the past clicked the "close all non-base currencies" and then it puts my into a USD/YEN fx position and would display under "FX portfolio". Then I would close the fx position and it's back to negative balance in Market Value.
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:D Just what I wrote about women and their SUVs... I could also write about functional analphabets, but what would be the point? :D

BTW P&L and position reporting in TWS is real-time, and shows exact and reliable data. RTFM... Or the dozens of threads here that explain everything clearly. But you seem to have a problem with comprehending posts, so good luck to you... :D

Quote from asiaprop:

sorry but you are the one who completely missed the boat. The point is that when you make 10,000,000 yen positive p&l, for instance through Nikkei futures or options, and your account is denominated in USD, you may want to convert the yen back to USD in order to avoid unnecessary exposure to fx. When you make the adjustment, you end up with fx positions in your fx pane although you are actually net flat. You need to adjust it back to zero all MANUALLY.

Secondly, no matter what p&l you generate, even in the 100 thousands you dont see a single penny of REALIZED P&L originating from fx positions. Why is that?

So, you still think that all makes sense or that something that is extremely basic and that most brokerages handle with ease looks very weird in TWS.

The freaking point is that when you offer speculative fx trading then also offer real-time unrealized AS WELL as realized p&l of those trading positions. Anything else dates back to before the 90s.
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:D
 
realized p&l originating from fx positions is NOWHERE shown you moron, its you who has no clue. Go back into your cave because you are absolutely disqualified to discuss....

converting non-base currencies also does not work as it should. Try converting Korean Won (from Kospi position p&l) back to any of the other majors and you know what I am talking about.

Why is ET loaded with people who all the time think they know better than others no matter how much they lack in knowledge?

Quote from orange_trad:

:D Just what I wrote about women and their SUVs... I could also write about functional analphabets, but what would be the point? :D

BTW P&L and position reporting in TWS is real-time, and shows exact and reliable data. RTFM... Or the dozens of threads here that explain everything clearly. But you seem to have a problem with comprehending posts, so good luck to you... :D

:D
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Quote from orange_trad:

BTW P&L and position reporting in TWS is real-time, and shows exact and reliable data. RTFM... Or the dozens of threads here that explain everything clearly. But you seem to have a problem with comprehending posts, so good luck to you...
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You'll find that the point of this thread is that the position in TWS is not exact and realiable. For example, if you trade a Yen denominated product and receive profit in Yen, there is no currency transaction recorded for the gain of the Yen. So, when the Yen is converted into US dollars, there is a transaction showing the conversion. This results in an apparent negative Yen balance.

This record in TWS is clearly not exact and realiable, because there is no actual negative balance of Yen. It simly shows up because TWS only records one half of the transaction in regard to foreign currency.

That is why it is necessary to manually correct it. It is necessary because it is otherwise incorrect, i.e. not exact and realiable.
 
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