I opened a demo account a few days ago with 10k and (thought i) was making profit till now. Ive been mostly trading with the EURUSD pair and now im a bit confused with my account. I closed all my possitions with possitive gain. bought 400000 and 200000 EURUSD at $1.2906 and sold at 1.2970. Isnt dat supposed to be profit? the so called profit just was being added to my account value and unrealized profits/loss. My unrealized profit/loss is 6172 yet i closed all my possitions. My main question is, why isnt that 6k being added to my cash balance and yet i havent made any losses in closing the possitions? U can check out my account in the attached screenshot. Thanks
It’s hard to say because I can’t tell what platform you’re using. However, it appears that you have a lot of open positions and it appears that your broker allows hedge trading. Hedge trading would allow you to, for instance, open a 2 lot SELL position on the EURUSD, then open a 2 lot BUY position on EURUSD at the same time. With some platforms, the second position closes the first, but, not on this one. You probably have to right click each order and close it that way. Again, though, I’m not familiar with that platform, that’s just what it looks like.
Thanx for ur help. I closed all the open possitions but my cash balance is still at 11456, unrealised value of possitions is 5873 account value is 17366. I dont know if dats good or bad. Im currently using saxotrador from saxobank
Looks like saxotrader,
Best way to close the position is to click the cross on the right of the postion, that will bring up a window to confirm, with the correct amount in terms of lots
By the looks of it you have opened many buy positions and then closed them buy selling lots, if you do that you need to make sure you match the lot size.
But myself i prefer to close out a position by clicking on the square, once done it should confirm on the same page as squared position.
I used both methods u described but my cash balance and account value hasnt changed. Is this some sort of error, was the 6k unrealised profit supposed to be added to the cash balance?