Using TWS, What is the easiest way to close a forex position
This morning, for whatever reason, I had an unwanted Forex position in my account.
What is the easiest way to close it out? I did the reverse of the position, but it took me 3 times because the TWS was reversing my order. Instead of selling my long position, I was buying more and more
Actually, My initial orders are send from API, then I manage them directly on TWS. Nice but I will need to built an interface to cancel them. Until I done it, I need to easely cancel position
I did chat with IB and they send me a 2 hours webminar that does not show any image on my PC
Actually, I always have some FOREX positions on my TWS. My account is in EURO and the profits and losses from futures trading show up in USD. So my account has a USD balance, and I do not set that to zero every day.
To close the balance from time to time, select "Account" and open the menu, then go down to "Market Value - Real FX Balance". The balance shows your foreign currency positions.
Now right-click on the balance that you want to close and there will be a popup menu reading "Close Currency Balance". If you follow the instructions your balance will be closed and not leave an open position with TWS.
After this there may be a leftover of a few cents of that balance, this is just to annoy those traders who are accountants in the first place.