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Robert H

Understanding the DAS Account Report

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This is a very common question, so here is a breakdown of the Account Report in DAS. To access the report, navigate to menu Tools > Account Report.

Please note that the commissions assume SureTrader's rate structure, and may not necessarily match your broker's fees. If you plan on using Interactive Brokers, a good estimate of commissions is to multiply number of shares traded (B below) x $0.005.

 

DAS Account Report

 

====================[TOP]====================

[A] Tickets - A Ticket represents any and all executions that result from one order being entered. Regardless of how many partial executions result from one order being sent, only one ticket is generated. One Ticket = one commission.

[b Shares - Number of shares bought/sold and shorted/covered

[C] SEC - Securities and Exchange Commission fee calculated as a percentage of the dollar value of the trade. Read more on Investopedia.

[D] FINRA - Financial Industry Regulatory Authority Trading Activity Fee. Read more.

[E] Trade P&L - Gross profit/loss before any commissions or fees. E = L+C+D+G

[F] Commission - Based on SureTrader's commissions structure. Unsure of exact calculation used; could be $4.95 per round-trip trade (?) Other users who are with IB say it could be using tiered commission rates, or $1/ticket.

[G] ECN - Fee or credit for removing or adding liquidity to the market, respectively. Read more.

[H] Net P&L - Net profit/loss after all commissions and fees. H = E-F-C-D-G, or H = L-F

 

====================[TOTALS]====================

Total Trades - Total tickets, equal to A above

[J] Bought Shares - Total shares bought/covered

[K] Sold Shares - Total shares sold/shorted

[L] Day-trade P&L - Profit/Loss before commissions, but including ECN, SEC, FINRA. L = E-C-D-G

[M] Total ECN - Equal to G above

[N] Total SEC - Equal to C above

[O] Total FINRA - Equal to D above

 

In Summary, the value in H is your take home pay/loss at the end of each trading day.

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Thanks for this!

 

For what it's worth, lately DAS is assigning random values to my commission (I'm on Sim). It used to figure $4.95 per trade. Over the last few days it's been ranging from $9-$11 per trade. Would be nice if one could set it manually.

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DAS is showing gross Trade P&L (excl. fees) of $762.50, a day trade P&L of $607.06 (762.5 - SEC - ECN - FINRA). So far so good...

 

Then the Net P&L = 97.21...not so good....:(

 

I generated 95 tickets today buying and selling (shorting/buying back) 45,200 shares. Isn't it better approximate the commissions by taking the 45,200 shares that changed hands and multiply by the commissions fee structure I chose with Speedtrader (per share trade fee of $0.0039) resulting in 45,200 * 0.0039 = $176.28 commissions?

 

That would yield a more realistic net P&L = 607.06 - 176.28 = 586.22

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Are the SEC, FINRA, and ECN fees more or less accurate? This is not included in the IB commissions right?

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I think they're more or less accurate.  They're so small, it's almost irrelevant.

When you're looking at the DAS Account Report, the commissions are separate from the other fees.  The total, however, does not match IB.  If you're on IB's tiered structure, the commission amount in the report is definitely not accurate.  For me, the commissions on the Acct Report are $1/ticket. 

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Robert.

Thank you for the explanation. I do notice in my training Sim the ECN charge is at the $.003 per share cost. Of course, I'm trading very heavy at this point in the learning process however, I notice your screen shot has zero dollars in the ECN cell. Quick read of your link speaks of creating liquidity (credit) and not creating liquidity (debit). I have been following the advice from the group about bidding into a trade with the +/- $.05 idea for immediate entrance. Am I understanding correctly this would be defined as not creating liqudity and thus, charged $.003 fee per share at some point when I go live? If so, and assuming the screen shot provide is yours, how do you go about entry to avoid such a fee?

Much appreciated.

seamus

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On 10/19/2018 at 11:57 AM, Seamus said:

Robert.

Thank you for the explanation. I do notice in my training Sim the ECN charge is at the $.003 per share cost. Of course, I'm trading very heavy at this point in the learning process however, I notice your screen shot has zero dollars in the ECN cell. Quick read of your link speaks of creating liquidity (credit) and not creating liquidity (debit). I have been following the advice from the group about bidding into a trade with the +/- $.05 idea for immediate entrance. Am I understanding correctly this would be defined as not creating liqudity and thus, charged $.003 fee per share at some point when I go live? If so, and assuming the screen shot provide is yours, how do you go about entry to avoid such a fee?

Much appreciated.

seamus

Hi Seamus,

I'm not sure why my screenshot has no ECN fees listed. I use the +/- 0.05 hotkeys as well. Those by definition remove liquidity (hitting the bid/ask) and are subject to ECN fees.

I'm with Interactive Brokers and my per share commission is 0.0035. Total per share after fees (SEC+FINRA+ECN) are about 0.005, so I assume those work out to 0.0015 per share. I believe people with CMEG are paying slightly more than that for ECN.

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On 10/19/2018 at 11:57 AM, Seamus said:

Robert.

Thank you for the explanation. I do notice in my training Sim the ECN charge is at the $.003 per share cost. Of course, I'm trading very heavy at this point in the learning process however, I notice your screen shot has zero dollars in the ECN cell. Quick read of your link speaks of creating liquidity (credit) and not creating liquidity (debit). I have been following the advice from the group about bidding into a trade with the +/- $.05 idea for immediate entrance. Am I understanding correctly this would be defined as not creating liqudity and thus, charged $.003 fee per share at some point when I go live? If so, and assuming the screen shot provide is yours, how do you go about entry to avoid such a fee?

Much appreciated.

seamus

The DAS SIM account report is weighted to the high-side (e.g. the fees are usually higher than what you'd see). For a breakdown of what fees you're likely to see, you'd want to check the broker you're planning on going with. A decent estimate of ECN fees depending on the route can be found here: https://www.lightspeed.com/pricing/routing-fees/

DAS defaults to 0.003 per share.

ECN fees can be cheaper if you use the preferred routes of your broker (Smart Route) versus demanding a certain route.

As well as the current SEC fees:
SEC -- $13.00 per 1 million shares sold (or $0.000013 of SOLD shares)
FINRA -- $0.000119 of SOLD shares

For DAS, that'd be: 0.006119 per share

 


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On 4/20/2018 at 5:07 PM, Michael said:

Thanks for this!

 

For what it's worth, lately DAS is assigning random values to my commission (I'm on Sim). It used to figure $4.95 per trade. Over the last few days it's been ranging from $9-$11 per trade. Would be nice if one could set it manually.

Similarly, it seems like $5.05 per trade applies to mine. I am also on Sim.

image.png.60cf84b18894538c7bc8a28e893bf0b2.png

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It seems the `Account Report` option has since been removed from the `Tools` menu. Does anyone know where it is?

missingAccountReport.png

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Looks like double clicking on the actual account you want to trade with will open up the summary.

doubleclick.jpg

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