I would appreciate advice on the subject bookkeeping and analysis of prop Fx trading accounts.
Ive been trading for 12 months in forex (profitably!) but am confused as to how to best handle all the different currency ledgers in my account. Im trying to put together a spreadsheet to analyse my trading, and the best place for me to start is to consolidate all the ledgers into one currency (AUD). One thing that bothers me is that in using the current AUD conversion rate i am 'distorting' the result from each trade because the P&L in AUD will be different now (using todays rate) than it was then in AUD terms.
So how do veteran traders out there do it? Do you simply convert every trade to one currency (lets say AUD) at the time the trade is closed? Can anyone give ideas on spreadsheets for Forex trading/bookkeeping & analysis?
Discussions about trading the Forex markets.
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