random_walker47

Valuing a forward entails valuing what both sides pay. Then you take what you're receiving and subtract what you're paying to end up with the value to you (i.e. the total amount of the payment and whether you pay or receive. If you are short the forward, it is the same calculations, you just switch the numbers for paying and receiving, or, just realize that when you calculate a long position, the payment for the short is the opposite.