For IB, is Quicken better than MSMONEY ?

Optionpro007

Optionpro007

Greetings guys,

From the title, does anybody have a preference on which software is better to work with ? i.e. to show daily pos, p/l, charts, pos defined by sectors etc..

Thanks !
 
last time I tried, Quicken did not support intraday trades. Quiken would randomly reorder the trades on import, completely messing up what was long and short.

I gave up
 
Vikana:

As a position trader, trading options on the long side only, do you know or think it would work for my style of trading ?

Is futures also an issue with Quicken?

Or is there a better bookeeping system to work with IB ?

Thank you very much for your help and/or any suggestions you may have.

:)
 
Both Quicken and MS Money sux. Quicken mess up on short and intraday as previous poster stated. Quicken doesn't pick up anything on Futures. I don't try forex, so I have no comment.

I read it from IB's forum, that Canadian gov't takes IB 1099 as sub for schedule D. I will to try to submit it to the IRS for my 2005 return. I hope they take it.

Can someone recommends other alternative?
 
Quote from optionpro007:

Vikana:

As a position trader, trading options on the long side only, do you know or think it would work for my style of trading ?

Is futures also an issue with Quicken?

Or is there a better bookeeping system to work with IB ?

Thank you very much for your help and/or any suggestions you may have.

:)
More...

I gave up on Quicken for my trading. I have used quicken for my personal finances since 93, so this was "hard" to do. If you do LONG-ONLY, I believe Quicken will work for you, as long as you take extreme care with any positions you sell on the same day you buy (make sure that the sale shows up after the purchase).

For futures, you'll have to set the number of shares to the multiplier*numcontracts, which is not a big deal.

I now use TradeLog. It's sort of expensive for what it does, but I just don't feel like "fiddling" with the quicken imports for hours each month.

I have had very few problems with TL, all of which has been addressed quickly.
 
I have been using TradeLog for about two years.

My experience: AVOID !!

The program is written by a software amateur.
Only as an example. Because I have used non US-based date format it was necessary to switch regional settings before using the program.

It uses parsing of plain IB web pages to extract the data. Because IB constantly changes the layout of repots this SW had constantly problems to stay up to date with these changes.

Trading analysis part is absolutely inadequate, particularly if the price of this SW is taken into account.

For accounting/trading analysis I would reccomend one of the programs for which the data is provided in XML format. You can see these programs on IB statements page by examining possible report formats.
 
Try 'see finance'. It is the only personal finance software I tested that can import accurately IB ofx files.
 
Since quicken advertises that they listen to their customers, about 6 years ago I asked them to better support daytrader's stock trade methodology so that trades can be added up, instead of the current method of matching up all buys and sells and to account for capital gains taxes. Needless to say, they haven't done anything, which sums up the whole program in general over the last decade.
 
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