Hi , I am trying to understand mathematically how things work on trading with indices mainly dowj and FTSE 100.
So I will take the DOWJ as an example
Market open at 20000
I have £100 pound in my account. I choose a leverage of 1:500.
I buy one lot , so will require (20000/500) which is £40pounds.
Market close at 18000. So I have made a loss.
- how do I calculate the loss
2)similarly if market close at 22000, how do I calculate profit
- how do I calculate minimum amount of money I need to keep my position open
- how long can I keep that position open
- silly question , how do I close a position on trading 212 if I am trading on the DOWJ for example. Can’t find close button .
I trialled with 24 option and the supposedly account manager could not answer these simple question. So planning to change to 212.