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my account statement is wrong ,how can i do?
- Thread starter luofeiyu
- Start date
Bry, I'm not saying he can't calculate it (and he should!) but this post of his makes it clear he does not know.
luofeiyu
Registered: Aug 2010
Posts: 15
10-25-13 06:38 AM
it is unluck that the broker do not tell me by which method they calculate my balance when i ask for the method.
so ,i have to calculate with my method .
luofeiyu
Registered: Aug 2010
Posts: 15
10-25-13 06:38 AM
it is unluck that the broker do not tell me by which method they calculate my balance when i ask for the method.
so ,i have to calculate with my method .
Quote from Bry:
If you know exactly which trade was miscalulated, why don't you share that with us?
Quote from luofeiyu:
it is unluck that the broker do not tell me by which method they calculate my balance when i ask for the method.
so ,i have to calculate with my method .
Post the full original statements in question (not a summary of them) and I will explain to you how they calculate the balances. (You should cover up or otherwise *fully* obliterate your account number and name and address, and if you wish, the broker name too).
If your broker has online tools that allow you to generate a month-to-date report with all optional detail and an account detailed breakdown and balance summary, that would be good.
Just saying the balance is wrong is going to get you nowhere because I can guarantee you that their balance is exactly consistent with the transactions that they show using their method of accounting. Everything is done by computer and every statement is always consistent within itself.
Any problems are in transactions that are either missing or at the wrong price, or other missing entries, etc. So you have to look at the transactions and find one that is wrong - not just at whether they add up to the balance.
If you think that the transactions that they show do not add up to the balance they show, then you are miscalculating or not understanding their accounting.
There can be errors, but they are not going to be of the nature that the transactions and other entries do not add up to the balances shown.
You have two main balances: cash balance and account equity. The latter usually includes unrealized profits, but some firms define equity differently. Some do not include options open profits in account equity but show it separately instead.
I would suggest looking on their web site and you will probably find a guide to interpreting their statements.
Try adding the value of your open option positions to their account balance and see if that equals what you think the balance should be.
Many firms take out the full option premium you pay out of your balance right away, but do not include the current value of the options in the balances, not even in the account equity. (Of course they do show it separately).
Many firms take out the full option premium you pay out of your balance right away, but do not include the current value of the options in the balances, not even in the account equity. (Of course they do show it separately).