More begginner CHF/JPY questions

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oldtime

I went long CHF/JPY. There is no volume on my TWS screen. Is that because it is a non standard pair?

Also I paid 97.20 but avg price shows as 1.25.

I assume this is some kind of conversion. How do I get avg price ticker to show actual price?

Please don't hesitate to answer more questions I haven't asked yet. I'm really enjoying learning FX.
 
Quote from oldtime:
The Yes part I understand. It's the "if you do it right" part that's got me wondering.
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Well, it's just that I am not familiar with IB at all, so I don't know how it treats ccy trades. When you do your trade is it denominated in "contracts", for example, or is it done in terms of the notional of base ccy?
 
Quote from Martinghoul:

Well, it's just that I am not familiar with IB at all, so I don't know how it treats ccy trades. When you do your trade is it denominated in "contracts", for example, or is it done in terms of the notional of base ccy?
More...
no, you can trade any amount you want
 
Quote from oldtime:
no, you can trade any amount you want
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I am sure that's the case, but what's the unit you actually trade? Do you sell 100,000 USD vs CHF or do you sell one contract, whose notional is $100,000?
 
well, since both sides are USD that's

sell 100,000 USD/CHF
buy 100,000 USD/JPY

since in my account I'm keeping score in USD, I figure that makes me long CHF and short JPY

but if I'm wrong I would appreciate being corrected
 
Quote from oldtime:
well, since both sides are USD that's

sell 100,000 USD/CHF
buy 100,000 USD/JPY

since in my account I'm keeping score in USD, I figure that makes me long CHF and short JPY

but if I'm wrong I would appreciate being corrected
More...
Nah, you got yerself a CHFJPY position, indeed. All good.
 
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