Account Statements

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Video Transcript:

Hello traders. Welcome to the thinkorswim tutorial and the second module, monitor tab. In this lesson were going to learn everything about the accounts statement sub-tab. The account statement sub-tab is located right here, under the monitor tab, to the right of the activity and positions tab. Now you can see that on the account statement tab you have different sub-tabs or sub-menus.

ThinkorSwim account statements

You can have a statement for the day, as well as customize it as you may like. Now one thing about the account statement is that you can also filter the account statement by symbol. Let’s say that we only want to look at the ES positions, you can see that our working order, field order, and cancelled order changes when we actually filter them out.

Okay, so the first thing you have to know is that you can have a statement or customize your statement by date and by symbol. Now, let’s look at the “Cash and Sweep Vehicle.” And let’s change that from one day to seven days. Now, you can see that the “Cash and Sweep Vehicle” tells you the cash balances at the start of each single trading day. And it only subtracts to that cash balance the commissions and fees that you pay for each trade.

Now, right here you can see the starting cash balance on every single day has been the same. Well on the first two days it was zero because I opened my account right here, August 31, 2015. You can see that TD Ameritrade made a 100,000 paperMoney dollars transfer to my account and then I took one trade today, which I sold two contracts of the E-mini S&P 500.

The commissions of that trade were $450 plus $232 of miscellaneous fees. If you hover your mouse over the miscellaneous fees you can view the commissions or you can view a breakdown of the commissions’ statement right here. This $232 is divided into an exchange fee, an NFA fee, and a Globex fee. This $450 is just a commissions’ fee that Ameritrade takes over the trade.

Open Positions on thinkorswim platform

The “Forex Cash Balance” is practically the same. You can see that we have transactions dating August the 31st, which I was transferred $10,000 paperMoney dollars by Ameritrade into my paperMoney account, and then I’ve had no…well, I did buy one [inaudible 00:03:24] of the EURO/USD, but as you already know the commissions and fees of the Forex Trade are paid once the trades are closed.

And again, if you hover your mouse, you will be able to see the commissions and fees breakdown. The “Order History” will tell you all the orders that have been sent out by your account. One thing that is crucial here is that you can customize all of these tabs by clicking on the circle and then removing items from your current settings or adding items to your current settings.

And if you want to move your symbol menu, just hover your mouse over the symbol, right-click on it, hold it and you can move the columns as you please. Now, the “Trade History” only shows you filled orders, which is the main difference between the “Order History” and the “Trade History” sub-menus. The “Trade History” sub-menus will show you working orders and cancelled orders, but the “Trade History” will only show you filled orders.

Now if you click on this, “Show Average Filled Price,” a window will be prompted out in which you will see the average price in which you traded each single contract or stock. And if you click these double arrows here, you can change the view of these sub-menus by just clicking on less fields, and this will only show you the order, ID, the description, and the status. And if you want to come back to the previous view, just click on the double arrows again.

Positions list

The “Futures Forex” sub-menus will show you the P & L and the open positions for the day. Well the open positions on your account. And if you have more than one trade on either “Futures” or “Forex,” the overall P & L of the day will show you the total P & L for all of your trades.

Now the “Profit and Losses” will show you the P & Ls in a very detailed manner. As you can see right here, if you go to “Profit and Losses,” you will get the description of each and every single day with a percentage on the P & L, the actual P & L, the P & L year to date, the differential P & L, and the margin requirements.

Now the market value of this trade is $125, and you can actually adjust your positions from this tab, if you click here on “Adjust Position.” Now the “Forex Account Summery” and the “Overall Account Summary” speak for themselves. And you can see right here that if you expand and leave your “Overall Account Summary” expanded, you will get your entire buying power and P & Ls in just one window. And of course if you click on this triangle right here, you can expand all of the data from the account statement menu at once.

Adam

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