Frequently Asked Questions
1. Can I trade with your firm?
No. We are a technology provider and do not offer trading services.
2. How does your software compute unrealized profit and loss?
Let's say you buy 100 shares of XYZ at $1.00 per share. Here's how the stock's closing price affects the unrealized and unrealized Δ (delta) values:
| Closing Price | Market Value | Unrealized | Unrealized Δ | |
|---|---|---|---|---|
| Day 1 | 1.00 | $100 | $0 | $0 |
| Day 2 | $1.25 | $125 | $25 | $25 |
| Day 3 | $1.30 | $130 | $30 | $5 |
| Day 4 | $1.15 | $115 | $15 | -$15 |
| Day 5 | $1.20 | $120 | $20 | $5 |
"Unrealized" is simply the profit or loss marked to the market at the end of the day. The Δ is the difference between today's and yesterday's unrealized value.
3. How does your software compute realized profit and loss?
When closing a position, PropReports picks which shares to sell (or cover) using intra-day First In, First Out (FIFO), followed by overnight FIFO.
This means that your oldest shares for the same day will be closed first, followed by the oldest shares taken overnight.
For example, given the following trades:
| Lot | Day | Type | Qty | Symbol | Price |
|---|---|---|---|---|---|
| 1 | Monday | Buy | 1 | XYZ | $1.00 |
| 2 | Tuesday | Buy | 1 | XYZ | $1.10 |
| 3 | Tuesday | Buy | 1 | XYZ | $1.05 |
| 4 | Wednesday | Buy | 1 | XYZ | $1.15 |
| 5 | Wednesday | Buy | 1 | XYZ | $1.20 |
Total shares held: 5
Average price: $1.10 (1.00 + 1.10 + 1.05 + 1.15 + 1.20 = 5.50 / 5 = $1.10).
In the simplest case, selling 5 shares at $1.30 would realize a gain of $1.00 (1.30 * 5 - 1.10 * 5).
Selling 1 share at $1.30 on Thursday would use lot #1 (the oldest overall lot since there were no opening trades that day) for a realized gain of $0.30 ($1.30 - $1.00).
Selling 1 share at $1.30 on Wednesday would use lot #4 (the oldest lot for that day) and realize a gain of $0.15 ($1.30 - $1.15).
Selling 3 shares on Wednesday would use lot #4, lot #5 and lot #1 for a gain of: $0.55 ([$1.30 - $1.15] + [$1.30 - $1.20] + [$1.30 - $1]).
4. Why does your profit and loss not match what my trading platform is showing?
Some execution providers use a different method for computing profit and loss (e.g., average price method) or do not retain correct cost basis for overnight positions. In those cases, the profit and loss your execution provider is showing will not match PropReports.
5. Why are you showing different positions than my trading platform?
We download trading activity from your clearing firm or execution provider on a daily basis, and we work to make sure your data is as accurate as possible. If you believe PropReports is missing a trade for your account, please contact your manager or broker to let them know.
6. I forgot my password; can you help me recover it?
Please click the "Forgot your Password?" link on the login page to have a new password e-mailed to you. If you no longer have access to the e-mail address associated with your login, please contact your manager or broker to have a new password set.
7. Do you have a list of all liquidity flags and their meanings?
The liquidity code values are passed unmodified from the execution platform which, in turn, usually passes them from the exchange. As a result, the meaning of a specific code varies depending on the destination. Codes are added and removed on a frequent basis.
8. I really like PropReports but my current firm does not offer it. Is there a way for me to use your product as an individual trader?
Unfortunately, the overhead of maintaining an installation for a single account makes it cost-prohibitive to offer the product to individuals. We are looking into ways to make this possible in the future.
9. I found a bug in your software; how do I report it?
Please send an e-mail to support@propreports.com and we will immediately investigate the situation.