Tuesday was my second day trading and I made 34 pips. When I jumped out of the market my account still had the same $$$$ as when I started.
I have Oanda and it said Interest earned on one of the trades I got out of
.0001
The other 4 currencies I was trading, which totaled approximately 13 pips, said ‘interest earned - 0.0000’.
What’s the deal?
DO I have to wait until the next market open or something to see my money?
Thanks,
Cuzy
well something strange seems to be happening mate…once u jump out of a trade , the balance should reflect the money that u have made/lost…if it does not, maybe u need to get in touch with oanda…
Interest earned is not the same as the 34 pips profit you made on your trade. It’s just the carry. If you only hold a trade a short period of time, it’s not going to add up to a very meaningful amount. You need to look at the row that shows “Take Profit”, “Sell Market”, or whatever it was that represents your exit transaction. Compare the balance shown on that line with the one previous to it and you’ll see your profit. It should also show up in your Realized P&L in your Account Summary, and of course your Balance will be higher.
Interest earned is not the same as the 34 pips profit you made on your trade. It’s just the carry. If you only hold a trade a short period of time, it’s not going to add up to a very meaningful amount. You need to look at the row that shows “Take Profit”, “Sell Market”, or whatever it was that represents your exit transaction. Compare the balance shown on that line with the one previous to it and you’ll see your profit. It should also show up in your Realized P&L in your Account Summary, and of course your Balance will be higher. - RHODY
I have no idea what that means! lol HELP
As of now I have 105 pip gain today. How do I cash in?! I am only in oanda practice game account but shouldn’t it still tell me how much I made if it were real?
Please explain like i was an infant!
Thanks!
I personally dont use oanda because I find it too confusing. But that is just me. What rhody was trying to say is that intrest earned is the money that you receive or pay when you hold a position at the end of the day. The end of the day is I think midnight GMT, all I know it is at 5:00 EST. The 34 pips you are referring to is the profit you made on the trade. The intrest earned a.k.a. roll over is usually a small amount, and if you are trading on a micro account your intrest will be just pennies a day.
If you are up 105 pips and want to know what your profit is then you should be able to right click on the profit coloum and it will have a tabs labled show profit click on Deposit currency. This should do the trick or get you in the right direction.
Actually, with Oanda the interest is calculated continuously so that when you close a trade the carry (either from when you opened the trade or from the previous day’s end, which ever is later) will either be credited or debited from your account. For positions held overnight, Oanda does the daily interest calculation (including interest on your deposited funds) at 4pm Eastern.
As for figuring out your gains or losses, there are two places to look. The one you should be able to see at all times is your [B]Account Summary[/B]. That’s shown on the left side of your trading screen. It shows your Balance, Unrealized P&L, and some other stuff. You can click the arrow to expand or contract what is shown there. Your [U]Balance[/U] will change when you close a trade (also when interest is credited or debited).
The other way to see your profits and losses is via the [B]Activity[/B] tab near the top of the trading screen on the right. That will show you literally every transaction, order, order change, and interest event over the last several days (if you aren’t seeing everything, click the little F button at the top right and make sure all the boxes are unchecked). Look at the Balance column on the right to see where the changes take place.
If you are still confused, check out Oanda’s help section. It’s pretty good.