I try to recalculate the profit loss listed on the order (demo account) I have, but i need help.
First of all a quick question: In the conditions of trading212 is sayed that there is no overnight fee.
But each stock/forex/etc. has its own long and short swap!? In my opinion is the overnight fee the swap fee (fee for lending me money for the leverage)? Could someone please explain this and the difference?
So here an example given i tried to calulate the loss at one specific moment:
Account in EUR.
I ordered 1 Gold at 22.8. for 1933,1 Now it is at 1927,43
In the orders i can see a loss in -4,76 Euro
Eur/USW course is 1.18282 at this moment
Long Position SWAP is -0,000153
Here i try to (re)caluclate the loss:
1927,43-1933,10 = -5,67$
divided by 1,18282 = 4,7936€
so there is a difference between 4,76 and 4,7936. I think this must be the swap fees for holding it from saturday to tuesday (+1 Day for closing) = 4 Days swaps
-0,000153 x 4 = -0,000612$ divided by 1,18282 = -0,00051741€
I don’t know why, but i think that number has to be multiplied by 1000, so it is -0,51741€
Total loss at the moment (calulated) would be: 4,7936 + (-0,51741) = 4,27619€
But that is not 4,76 Euro.
So please can somebody show me how to do the right calulation?
Thanks in advance