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Old 11-14-2004, 03:01 PM
Scott Keene
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Default Re: Problem in tracking effects of currency trading

Yes! Microsoft, hear us! I have been searching for this functionality in a
piece of software for the last 12 months. I just don't have the time to
manually input price histories into Excel and track everything. This is why
we buy software to do it for us, and as far as I know, you have the chance
to be the FIRST on the market to offer Forex investment tracking software
that does NOT require the user to have a trading account with the software
provider. My bank gives me very good spreads, I can keep my forex
investments together with my general savings (easily transferring between),
and hence I do not have the desire to open a 3rd party forex trading account
somewhere else just so I can get some half decent software to track it.
Especially when MS Money is so close to being there!

You have included support for those who trade stocks and hold stock
portfolios. Please allow us to include Forex trading in our investment
portfolios! Show us our P&Ls. Give us Price history so we can chart the
past performance of our currency portfolio.

There are NOT that many currencies to track as compared with Equity
securities. I'm sure one of your programmers could add them in no time at
all.....


Ummm... my bank also lets me buy and sell gold... Well, on paper at least...
Would be great if we could track a few basic commoditites as well, but all
we really ask for is currency trading profit and loss capabilities.


"2pac" <cal_2pac[at]yahoo.com> wrote in message
news:d04df644.0411121003.379b6a1f[at]posting.google.com...
- quote -

> I am facing a problem regarding tracking my net gain / loss when I
> make transactions in different currencies
> The problem can be described thus:
> Assume that the user has two bank accounts - bank account A and bank
> account B - A being in USD
> and B in Euro.
> Now on Date X , a transfer is made from A to B. I downloaded
> statements from both banks into MS money.
> Both will show the transactions in their respective currencies. Say
> for $1000 transfer, B shows
> Euro 500
> On Date Y, I see the total value of both the accounts taken together
> as $1100(assuming Euro has appreciated against dollar)
> and MS money takes the currency exchange rate on date Y
> In effect, I have made a gain of $100.
> However, this fact does not get recorded anywhee(or at least is not
> explicit)
> I tried to resolve the problem by trying to incluede both accounts as
> a part of my investment
> portfolio with the currency exchange rate as a ticker symbol(yahoo
> does it that way ie. it treats
> the exchange rate similar to a stock so that currency trading becomes
> equivalent to a stock transaction
> eg. USDGBP=X for USD vs British Pound)
> However, money does not provide a way to get currency exchange rate
> that way
> Is there any other way to track the gain / loss?



  #-1  
Old 11-12-2004, 05:03 PM
2pac
Guest
 
Posts: n/a
Default Problem in tracking effects of currency trading

I am facing a problem regarding tracking my net gain / loss when I
make transactions in different currencies

The problem can be described thus:
Assume that the user has two bank accounts - bank account A and bank
account B - A being in USD
and B in Euro.
Now on Date X , a transfer is made from A to B. I downloaded
statements from both banks into MS money.
Both will show the transactions in their respective currencies. Say
for $1000 transfer, B shows
Euro 500

On Date Y, I see the total value of both the accounts taken together
as $1100(assuming Euro has appreciated against dollar)
and MS money takes the currency exchange rate on date Y

In effect, I have made a gain of $100.
However, this fact does not get recorded anywhee(or at least is not
explicit)

I tried to resolve the problem by trying to incluede both accounts as
a part of my investment
portfolio with the currency exchange rate as a ticker symbol(yahoo
does it that way ie. it treats
the exchange rate similar to a stock so that currency trading becomes
equivalent to a stock transaction
eg. USDGBP=X for USD vs British Pound)

However, money does not provide a way to get currency exchange rate
that way
Is there any other way to track the gain / loss?
 

Tags
currency, effects, problem, tracking, trading
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