I have an interesting question for TS users. I moved from esignal and IB combo to TS and using 7.2 version two weeks ago. I daytraded emini russel on TS yesterday and went flat at 1:00 pm, my highest execution cost for longs was 587.00 during the day. Towards the end of the day I decided to go long one contract at 579.00 and carried it overnight. At the close price was 582 and account was showing positive 4 points profit. When next morning I logged in, the price was 583 but account was showing loss of 4 points and was showing my buy price from yesterday at 587.00 and I was loosing 4 points, a quick call to trading desk revealed that if you carry a position overnight its execution price will be calculated at the highest priced I executed for longs a day before. They say it is fairly normal practise in futures industry to match highest or lowest trades to match (I did'nt understand fully what he meant).I am lost here. In my 4 years with IB I never had this problem and certainly carried overnight positions numerous times and next day software calculated prices from my last execution price. I want ot ask if somebody can through some light on this topic.
Several Futures' brokers match your trades that way. REFCO does the same thing. It can be annoying when you carry a position. The bottom line, your P & L is the same when you flatten out. There may be a way to "match" your trades first in first out. Call RJ OBrien for a real answer. They are very knowlegeable. Phone: 312-373-5250 E-mail: clientservices@rjobrien.com
But my account did not come back to what it was at the end of the day when I had long position. I will call the number you gave in your post to make myself more educated trader.
I was also puzzled! I will guarantee you 100% you are not losing P & L! You are gaining P & L on the other side and losing it from the newest trade. When you go flat, as I said, your trades will all balance out. Look at the trades and do the P & L manually. Call that number, the guy that answers is a former CME guy. He does not bite. TradeStation customer service is lucky they know what an E mini is.
Well I called this number lady picked up and when I told that I had a question regarding trade in tradestation, she immediately said she can not do anything about it and I will have to talk to broker at tradesation trading desk. I told her I only want aclarification but she would'nt budge. I will sit down tonight and will drill down the trade, p/l and will talk to TS. Although I already talked to them. Bottom line is my p/l should not change no matter what ever method they use to calculate. Although I am still confused.
Try calling the desk at TradeStation then. They are a lot smarter than customer service. I tried..........JUST DO THE MATH BOTH WAYS. "That is like eating a salad before the meal vs after the meal..... ......the end result is exactly the same in your stool!"
Trader333.... Ebo is correct. I have traded with TS for years and this is always been the case. Your p/l has not changed. Have the trading desk on Monday walk through each trade. I had a tough time adjusting when I switched from Realtick to TS but prefer it now. Island0004
Lets see now I have manually gone through each and every trade and p/l. My account was 11300 at 5:00 PM EST closing of cbot with one long emini russel and long price was 579.00 and closing price was at 582, I had three points profit showing correctly. My highest long price during the day was 587. Now next morning at logon it was showing account at 10900, matrix was showing my purchase price at 587 and a net loss of 400, the last price was 583. I read daily account statement and it says I have a debit of 500 dollars which I think difference between close price of 582 and highest price of 587 of prior day. I called the trade desk and they said this is normal practise at TS which was obviously shock to me that I am going to loose evey time if I carry an overnight position. In the end I close the position and it showed the loss of 400 dollars and account was showing 400 loss from yesterday closing. Another call to tradedesk did not yield any positive outcome. I am going to call my IB at TS and will seek an explanation on Monday. Now the question is how do I prove that at 5:00PM EST closing of cbot my account was correctly showing the amount? and next morning my account was negative 400 dollars. Do I need to take snapshots of trademanager after each and every trade. This will surely make me neurotic, and I will be busy not in trading but in record keeping. Is there a way to find out how much was p/l on each and every trade. I appreciate traders response in this forum.
Lets make this simple! Next time you are flat, list all your purchase prices on the left, and all your sales on the right, do an average price, if you know how! Multiply the prices times the number of contracts and the index multiplier. Take the difference! OK. This is is your real P & L. You can also use The "Average Price Function" on the trade manager, change the dates so you have all buys and sells over a few days . What is so hard to understand? TradeStation is marking your latest sale to your highest purchase. When you are flat, your P & L is 100% correct. Are you paranoid? Do you think RJ OBrien is keeping your good purchase? Call the Trading desk at TRADESTATION! You are starting to look like a rookie.
Well I will sort this out Monday morning. Calling somebody a moron by an elite member is not a good behaviour. I posted a problem and not pointing a finger at anybody. Help is surely appreciated, foul language is not.