In the Trader, the first currency in a cross pair is called Currency 1, the base currency, which is fixed. The second currency is called Currency 2, the quote currency, and varies based on the current market.

For example, if your home currency is the US dollar and you want to trade Euro/GBP and display your results in US dollars, we had to look for an exchange rate. We looked for an exchange rate that matches the quote currency of GBP with US dollars. Our data provider listed the symbol GBP/USD, which we selected as the exchange rate. The Trader then asked if the Quote currency for the Exchange rate, USD, is equal to our home currency. We selected yes, and the Trader performed the required calculations to display our trading statistics in terms of US dollars. 

In the second example, the home currency is still US dollars and you want to trade USD/JPY. Since the home currency is not the quote currency, you select the same USD/JPY symbol as the exchange rate. This time you reply no to the question “Does the quote currency match the home currency?” The Trader performs the required calculations to display your trading statistics in US dollars.