Brokers that don't switch positions - Reviews of Brokers and Data Feeds | futures io social day trading
futures io futures trading


Notices

Brokers that don't switch positions
Updated: Views / Replies:159 / 4
Created: by spinnybobo Attachments:0

Welcome to futures io.

(If you already have an account, login at the top of the page)

futures io is the largest futures trading community on the planet, with over 100,000 members. At futures io, our goal has always been and always will be to create a friendly, positive, forward-thinking community where members can openly share and discuss everything the world of trading has to offer. The community is one of the friendliest you will find on any subject, with members going out of their way to help others. Some of the primary differences between futures io and other trading sites revolve around the standards of our community. Those standards include a code of conduct for our members, as well as extremely high standards that govern which partners we do business with, and which products or services we recommend to our members.

At futures io, our focus is on quality education. No hype, gimmicks, or secret sauce. The truth is: trading is hard. To succeed, you need to surround yourself with the right support system, educational content, and trading mentors Ė all of which you can find on futures io, utilizing our social trading environment.

With futures io, you can find honest trading reviews on brokers, trading rooms, indicator packages, trading strategies, and much more. Our trading review process is highly moderated to ensure that only genuine users are allowed, so you donít need to worry about fake reviews.

We are fundamentally different than most other trading sites:
  • We are here to help. Just let us know what you need.
  • We work extremely hard to keep things positive in our community.
  • We do not tolerate rude behavior, trolling, or vendors advertising in posts.
  • We firmly believe in and encourage sharing. The holy grail is within you, we can help you find it.
  • We expect our members to participate and become a part of the community. Help yourself by helping others.

You'll need to register in order to view the content of the threads and start contributing to our community.  It's free and simple.

-- Big Mike, Site Administrator

Reply
 
Thread Tools Search this Thread
 

Brokers that don't switch positions

  #1 (permalink)
Elite Member
Crete, IL/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, Mt4
Broker/Data: Tradestation/Tradestation, NinjaTrader, FXCM and Tallinex
Favorite Futures: ES, CL, EUR/USD, TF
 
spinnybobo's Avatar
 
Posts: 178 since Aug 2009
Thanks: 103 given, 49 received

Brokers that don't switch positions

Hello

I am currently with NinjaTrader brokerage and really like them as they are through Dorman Trading.
The only thing that drives me crazy is they will constantly change the positions I have as well as my unrealized account value

Meaning let's say I did a good deal of trades and then decided to hold overnight because I am in a drawdown.
The next morning it might show I am in a profit. However, from the actual place I entered the market I am not in a profit, what happened is they switched where I was in a position on market close and they simply switched the position to another one I took during the day and then also had to adjust my account value

It is the most annoying thing. I remember years ago this never happened. It only started happening around 2014.
Is this with all brokers? The positions used to just stay.

Please let me know why this happens and if it happens with all brokers. I would not mind going with a broker that doesn't do this as it really messes with you psychologically and personally I think that is why they do it as there really is no other reason.

thanks
Spencer

Reply With Quote
 
  #2 (permalink)
Quick Summary
Quick Summary Post

Quick Summary is created and edited by users like you... Add FAQ's, Links and other Relevant Information by clicking the edit button in the lower right hand corner of this message.

 
  #3 (permalink)
Market Wizard
Cleveland Ohio/United States
 
Futures Experience: Advanced
Platform: Tradestation
Broker/Data: Tradestation, DeCarley, others
Favorite Futures: futures
 
Posts: 2,592 since Jul 2012
Thanks: 1,317 given, 4,879 received
Forum Reputation: Legendary



spinnybobo View Post
Hello

I am currently with NinjaTrader brokerage and really like them as they are through Dorman Trading.
The only thing that drives me crazy is they will constantly change the positions I have as well as my unrealized account value

Meaning let's say I did a good deal of trades and then decided to hold overnight because I am in a drawdown.
The next morning it might show I am in a profit. However, from the actual place I entered the market I am not in a profit, what happened is they switched where I was in a position on market close and they simply switched the position to another one I took during the day and then also had to adjust my account value

It is the most annoying thing. I remember years ago this never happened. It only started happening around 2014.
Is this with all brokers? The positions used to just stay.

Please let me know why this happens and if it happens with all brokers. I would not mind going with a broker that doesn't do this as it really messes with you psychologically and personally I think that is why they do it as there really is no other reason.

thanks
Spencer


I believe it is FIFO, and by law all brokers must follow it. At least I think so, maybe @mattz can confirm.

It should not change your Net Equity value though. It might change cash balance and open equity calculations, but you should net out the same.

If you have any questions please send me a Private Message or use the futures.io "Ask Me Anything" thread
Reply With Quote
The following user says Thank You to kevinkdog for this post:
 
  #4 (permalink)
Elite Member
Crete, IL/USA
 
Futures Experience: Intermediate
Platform: NinjaTrader, Mt4
Broker/Data: Tradestation/Tradestation, NinjaTrader, FXCM and Tallinex
Favorite Futures: ES, CL, EUR/USD, TF
 
spinnybobo's Avatar
 
Posts: 178 since Aug 2009
Thanks: 103 given, 49 received


kevinkdog View Post
I believe it is FIFO, and by law all brokers must follow it. At least I think so, maybe @mattz can confirm.

It should not change your Net Equity value though. It might change cash balance and open equity calculations, but you should net out the same.

yeah I know it doesn't change things in terms of net equity. Maybe I am overly untrusting of brokers but whenever this happens I feel like I need to calculate things to make sure they didn't take any money from my account, lol

maybe I just not worry about it

Reply With Quote
The following user says Thank You to spinnybobo for this post:
 
  #5 (permalink)
 Vendor: www.optimusfutures.com 
Boca Raton
 
Futures Experience: Advanced
Platform: Variety
Broker/Data: Optimus Futures, LLC
Favorite Futures: Futures
 
mattz's Avatar
 
Posts: 2,240 since Sep 2010
Thanks: 2,190 given, 3,152 received
Forum Reputation: Legendary


kevinkdog View Post
I believe it is FIFO, and by law all brokers must follow it. At least I think so, maybe @mattz can confirm.

It should not change your Net Equity value though. It might change cash balance and open equity calculations, but you should net out the same.

FIFO is the first rule that futures accounting and also day trades take precedence over long-term trades.
In that sense, your day trades are matched against one another while longer-term trades are carried over.
Also, this is what clearing house follow, not the brokers.

Customers who start trading not knowing the accounting rules and also relying on their platforms for balances could run into issues. Settlement on different feeds could follow different rules so positions overnight could throw you off.

I recommend that customers who day trade and swing trade maintain two separate accounts with varying balances. What I find from my experience is that many day traders would keep positions overnight if their day trade did not work out. That rarely succeeds as a strategy in their favor.

Matt Z
Optimus Futures

There is a substantial risk of loss in futures trading. Past performance is not indicative of future results.

PM with any questions about optimusfutures (800) 771-6748 (561) 367 8686. THERE IS A SUBSTANTIAL RISK OF LOSS IN FUTURES TRADING.

Last edited by mattz; November 10th, 2018 at 09:44 AM.
Reply With Quote
The following 6 users say Thank You to mattz for this post:

Reply



futures io > > > > Brokers that don't switch positions

Thread Tools Search this Thread
Search this Thread:

Advanced Search



Upcoming Webinars and Events (4:30PM ET unless noted)
 

Fundraiser: Feeding Families in Need (ends Dec 17)

December
 

Battlestations! Show us your trading desks w/GFF Brokers ($750 in Prizes)

January
 

An Afternoon With Morad Askar (aka FuturesTrader71)

Elite only
 

TBA w/Brett Steenbarger

Elite only
 

Traders Tax Advice w/Ryan Curran CPA

Elite only
 

Black Swan Events w/Adam Grimes

Elite only
     

Similar Threads
Thread Thread Starter Forum Replies Last Post
I'm looking to switch trading platforms and brokers harryguy Reviews of Brokers and Data Feeds 8 August 28th, 2018 03:08 PM
Managing Forex Positions with Interactive Brokers JGSmith NinjaTrader Programming 1 June 13th, 2014 08:59 AM
Hedging currency risk in short stock positions (any different from long positions?) ikeaboy Currency Futures 9 May 15th, 2014 05:00 PM
Recommended discount brokers that don't eat your profits with all the fricken fees!! tracy Reviews of Brokers and Data Feeds 15 April 24th, 2013 05:47 PM
How often do you switch brokers? Big Mike Reviews of Brokers and Data Feeds 8 August 28th, 2012 03:17 PM


Tags
brokerage, brokers, clearing house, dorman, dorman trading, drawdown, futures, futures trading, information, ninjatrader, ninjatrader brokerage, swing, switch, trading

All times are GMT -4. The time now is 10:38 AM. (this page content is cached, log in for real-time version)

Copyright © 2018 by futures io, s.a., Av Ricardo J. Alfaro, Century Tower, Panama, +507 833-9432 WhatsApp Business, info@futures.io
All information is for educational use only and is not investment advice.
There is a substantial risk of loss in trading commodity futures, stocks, options and foreign exchange products. Past performance is not indicative of future results.
no new posts
Page generated 2018-12-16 in 0.11 seconds with 13 queries on phoenix