How is Forex P&L calculated

klacken2

Newbie
1 0
Hi All

Sorry if this is a simple question but it has stumped me.

I am trying to set up an excel spreadsheet to deal with forex P&L.

But I have tried everything I can think of and am getting nowhere, so a little help really would be appreciated.

Let’s say I have two trades with GBP/NZD

I sell 3.00 lot at 1.95998

I close the trade at 1.65958

So a profit of 0.00040

But the IG metatrader system is showing this as USD $78.40



I buy 0.01 lot @ 1.97815

I close at 1.97523

So a loss of -0.00292

But the IG metatrader system is showing this as USD $-1.92



Can anyone give me a hint as to how they (IG) are calculating these P&L ?

Or, as I’m not bad at excel, a formula for it or a link to a site which can help create one.

Thanks
 

cantagril

Experienced member
1,981 451
I can't tell you about IG but I'd think you need to plug in a commensurate pip value, commission and swap rate.
 
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