Well, fees are not estimated. A fee is a fee, point blank. In your head you can imagine the fee structure. as you are trading, as Speedo mentioned. $4 RT per contract is a good number to work with on e-minis.
Ok, just looked over the statement again. Made approx 450 trades over 2 days/nights (delineation is kinda blurry since I traded the overnight session too) - mostly ES and a small number of RTY. Trade sizes were between 1 and 6 contracts max, mostly 1, 2 or 3, rarely 6. It's kind of hard to keep a running estimate of fees given the number of trades I placed, without some automation and clearly defined cutoff times when fees get subtracted by the broker. A few trades in the volatile Friday 3 to 4pm timeframe were desperate reverse direction trades and I didn't have time to look at balances as I placed them. Again, the balance was just below a 1000, a positive one at 19:00 EDT. It became a negative number just above -1000$ on Sat morning. Would you agree that it's kinda hard to "in your head imagine the fee structure" given the above?
Yes, I would agree that trying to keep track of THAT many trades in the head during a trading day would be quite a challenge. I am trying to visualize what that would be like in the NT7 environment, and it is difficult for me. I have never pushed around that volume of contracts. The easiest way to handle that, I guess, is to remember the number 4. Or 5, if you are conservative. That is your cost per RT, all commish inclusive. So nearing the end of the trading day, you look at your final balance, and look at the number of trades you made in the trade summary screen, and do the maths of number of trades *5 bux, and work it from there. That what I do in my head every time I take a swing trade in the index futures. I do not sit there and over-lever on max contracts...Rather, I am constantly calculating in my head what the overnight margin is, times number of contracts, +/- PnL, remembering my NLV from the previous session, and determining if I will survive the terrible, horrible, very scary overnight session.
It is hard to imagine any futures software that doesn't calculate and display to the trader every fee in real time. Check out Tradovate. In addition to real-time display of all fees, you can run a report at any time to see the history.
One possible solution using a different trading platform: Sierra Chart allows you to setup round-turn commissions and fees (C&F) on individual symbols, and it can show your account balance. It does not automatically update the account balance in real time because the account balance is apparently being retrieved from the broker. However, in the Trade Window, it lists trades real-time as they are made, and when a trade is closed, it applies the C&F for that symbol to the gain/loss. It also gives a real-time running total of all gains/losses (which includes C&F) for all trades made during the given time period based on date:start-time and date:end-time. So what you could do is take note of the beginning account balance for the time period, as reported by AMP, leave the Trade Window open as you trade, and monitor your running total to make certain you don't exceed your buying power.
Welp, here is the update. I just checked the outstanding balance again, and here is what I have... This is going to throw fake traders for a loop, and I am sorry this is going to be complicated for them. But this is the world of the REAL! The previous balance was 1980.86. As it happens, today was the day that they took the 31 bux from the account for the monthly non-professional fee. It is VERY VERY UNFORTUNATE that this happened to be that day. Because as I just mentioned, there are very few people on this forum who will believe it and even understand what that means, because they are fake bullshitters. So let us do the maths. 1949.02 + $31.00 = 1980.02 1980.86-1980.02 = ~$0.80, as I have mentioned it would be when the commish showed up in the balance screen. So YES! There is still a delay in commish showing up in the trading platform, and how it may affect your buying power, Nick. The platform you trade with matters not, so maybe it is the datafeed. It probably affects all of them. Only way you will know it to try another feed like Rithmic or whomever, to get to the bottom of it. Happy hunting!
At AMP, one can only trade MT5 with the CQG data feed. There is no mystery here. Upon opening a live account, you receive an email entitled "MT5 Live Setup Credentials" which contains login and setup details as well as some important links to read, one of which is this. At the beginning it is slightly disconcerting, but should not prove to be an obstacle unless one is trading frenetically and/or very close to margin call territory.
quantower and Multicharts are free too. I am an old school so I used Multicharts, balance, buying power, equity are real time. mini is 1.85 per side, mirco is 42 cents, never had a problem. Amp statement is hard to read but never wrong.
Hello all. For clarification, CQG does NOT currently have a setting for us to set up the Fees within their trading environment. Rithmic YES does have this setting > we have set the exchange fees per contract within their system. TT also does NOT have a setting to set up fees. Yes, you will see your real-time streaming trading PnL and current account balance on all the trading systems (CQG, Rithmic, and TT), and then after the trading day, you will see all your trades from the exchange(s) and fees processed on your daily AMP statement. There are over 50+ different trading platforms available for AMP customers to use. https://www.ampfutures.com/trading-platform Yes, some of the platforms have the ability to add fees within the platform. Anything set up within the platform would be for general "view only" status. Your AMP statement will be the final source for all fees and trading PnL settled with the Exchange(s) on your account.