Recently, I login my C2 account, I noticed that my equity value changed all the time, a slight depreciation on my equity that doesn’t bother me at all because I think it’s just some correction on my stats. However, after a break-even trade on 7 November, I started wondering about what the heck is going on with my equity, it’s clearly depreciation although that was a break-even trade. Today, I login and realize that there is obviously something wrong with my stats because my equity dropped its value again even I don’t have any latest open or closed trade. It’s not too long to figure out that the problem lie on the two uncompleted trade stats, the first one was on 24 October and the second one was on 2 November, both was losing trade that had no stats and its value is variable. Here is the clue.
1. Before a losing trade occurred on 2 November, my equity was 121339, I took the trade and risk 2% of my account equity as normal, so in term of $, I only risked 121339*0.02 = 2 426.78 but it’s showing that my losing trade cost me (-2520$)and this figure ( -2520$) is calculated by today’s exchange rate instead of 2 November’s exchange rate.
2. A losing trade on 24 October (-2430$) that was larger than the previous losing trade 23 October (-2418$),both trade was risk the same 2% hence it makes no sense if the second losing trade value bigger than the first one.
So Matthew, I hope you could spend your spare time to help me correct those little issue, thanks and have a great weekend ,mate.
When you close a forex trade that is not USD-denominated, C2 converts the profit/loss into dollars using the correct price of the dollar at the time the trade was closed. However, thanks to your forum post, I noticed that C2 had not collected data for a subset of forex trades (typically those opened and closed on the same day) and thus used a floating conversion rate to calculate historical dollar-denominated profits.
I have installed new software which will ensure that a fixed (and correct) conversion rate is used in all closed trades going forward, and I have cleaned up the database to use the correct historical prices for the dollar. Thus, I believe this issue is now solved.
Thank you for pointing out the problem.