Jump to content

Book cost - why it's changing?


Recommended Posts

Hi,

It seems that my book cost fluctuates. In order to calculate running P/L of the portfolio, the book cost should be fixed in the account native currency on time of purchase?

Why is it changing? Is it because at the time when I bough US shares the GBP/USD was different?

Also what does it mean when the book cost goes down in that scenario? Is it because NOW the GBP/USD is higher in value?

I guess book cost going down than what I actually aid for it, it means that I'm losing on the exchange rate  since I bought the shares respectively 

I bought US shares with my GBP account.

 

Many Thanks,

George

Edited by Georgi
Link to comment

Will someone from the IG community answers the question why the book cost is not fixed in native currency at the state of the world = the time of purchase of foreign shears (the exchange rate at the time of purchase)?  This is the right thing to do, otherwise the running P/L is wrong.. 

Link to comment
  • 5 months later...

I had the same question and after an unhelpful online chat, I sent email to the helpdesk.

Their reply after 3 days is as follows: Please be informed that the booking cost is fixed.
However, as you hold shares bought in a different currency than GBP, the conversion of that booking cost to GBP is fluctuation, therefore the the overall booking cost to GBP is also changing

I still fail to see how this can be the the case, given that when I bought the shares I was charged in GBP at the exchange rate at the time, and therefore the GBP book cost should not change.

I will go back and challenge their response, but I'm not holding out much hope  of geting a different response.


 

Link to comment
  • 2 months later...

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • image.png

  • Posts

    • Elliott Wave Analysis TradingLounge Daily Chart, Ethereum/ U.S. dollar(ETHUSD) ETHUSD Elliott Wave Technical Analysis  Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 5 Direction Next higher Degrees: wave 5 of Wave (3) Wave Cancel invalid level:  Details: Wave (5) trend move to Test 4692.28 Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: A five-wave increase in the Impulse pattern, with the fourth wave appearing to be complete. And the price rose again during the fifth wave. The overall picture tends to rise above the 4150 level again. Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.   Elliott Wave Analysis TradingLounge H4 Chart, Ethereum/ U.S. dollar(ETHUSD) ETHUSD Elliott Wave Technical Analysis   Function: Follow Trend Mode: Motive Structure: Impulse Position: Wave 5 Direction Next higher Degrees: wave 5 of Wave (3) Wave Cancel invalid level:  Details: Wave (5) trend move to Test 4692.28 Ethereum/ U.S. dollar(ETHUSD)Trading Strategy: A five-wave increase in the Impulse pattern, with the fourth wave appearing to be complete. And the price rose again during the fifth wave. The overall picture tends to rise above the 4150 level again. Ethereum/ U.S. dollar(ETHUSD)Technical Indicators: The price is above the MA200 indicating an Uptrend, The Wave Oscillator is a Bullish Momentum.   Technical Analyst : Kittiampon Somboonsod Source : Tradinglounge.com get trial here!  
    • Trading Strategies NASDAQ 100 (NDX), Apple (AAPL), Tesla (TSLA), Amazon (AMZN), Nvidia (NVDA), Microsoft (MSFT), Meta Platforms (META), Netflix (NFLX), Alphabet (GOOGL), Bitcoin (BTC). Elliott Wave Analysis of NDX Tech Stocks: Risk on with this week expecting higher price levels. Longer term Elliott wave counts for NVDA, GOOGL and MSFT. I also focus on how I fit stock and Indices into the same larger Elliott wave count, that is into Primary Wave 3) of cycle degree I. Last we started to enter long trades for stocks, some have triggered long, and some are still pending, and I make an adjustment on the entry for AMZN a lower entry price. In a nutshell there is no change in Elliott wave counts. Video Chapters 00:00 NASDAQ 100 (NDX) 03:34 Apple (AAPL) 05:02 Amazon (AMZN) 08:56 NVIDIA (NVDA) 15:33 Meta Platforms (META) 16:37 Netflix (NFLX)  17:32 Alphabet (GOOGL) 24:28 Microsoft MSFT 25:39 Tesla (TSLA) 26:52 Bitcoin 29:52 End Analyst Peter Mathers TradingLounge  
    • ⚽️The 2024 Euro Cup is kicking off! 🏆   Think you can guess the champion? Comment your pick and if you're right, score 50U perpetual bouns!💰   How to join: 1. Go To https://x.com/BYDFi/status/1801542135939768779/photo/1 2. Follow @BYDFi 3. Retweet this tweet 4. Comment with your champion prediction Let the Goal Rush Challenge…
×
×
  • Create New...
us