Although I'm not a IB user, I use Datek along with Microsoft Money 2001. Gotta admit, MS Money really sucks when I have some days when I have several daytrades with several partial fills for each trade.
MS Money really has a field day trying to reconcile some trades, especially when it's a series of stop and reverse type of trades intraday. In some situations, MS Money doesn't even import the data and gives me an error message, since it would cause the shares to go negative or some other weird reason. This occurs when Datek doesn't properly classify short trades.
In those situations, I have to go back into my trading history, and figure out which trade needs to be entered/edited properly by hand so that the rest of the trades, which have already been downloaded, can continue to be imported. I could go on and on and on, but it's not the point of this email.
I was wondering if anyone has looked at GTT Tradelog as an alternative to Quicken or MS Money? Someone posted the link on some other thread, but I don't think he got a response. It looks like the Holy Grail of tracking trades and more importantly, for automatically generating the proper tax documents (wash sales, schedule D, form 4797) and basic reports regarding your trading performance.
http://www.armencomp.com/gtttradelog/
Under the FAQ->Competition section in the website above, they mention that Quicken and MS Money are just not supported (and who knows, may never be) for the small minority of active traders. They claim their $275 program will easily import IB's trade history .txt file you download, although folks like me using Datek will have to import using the copy/paste feature directly from the trading history web page. Not that big of a deal, although the data for the current trading day doesn't show up until the following day.
http://www.armencomp.com/gtttradelog/import.shtml#IB
Who knows, if you have hundreds or thousands of trades to reconcile during tax time, $275 may be a drop in the bucket in terms of saving huge amounts of time and headaches.
I'm thinking of buying this program, so that's why I'm curious if anyone else has had any experience with it.
MS Money really has a field day trying to reconcile some trades, especially when it's a series of stop and reverse type of trades intraday. In some situations, MS Money doesn't even import the data and gives me an error message, since it would cause the shares to go negative or some other weird reason. This occurs when Datek doesn't properly classify short trades.
In those situations, I have to go back into my trading history, and figure out which trade needs to be entered/edited properly by hand so that the rest of the trades, which have already been downloaded, can continue to be imported. I could go on and on and on, but it's not the point of this email.
I was wondering if anyone has looked at GTT Tradelog as an alternative to Quicken or MS Money? Someone posted the link on some other thread, but I don't think he got a response. It looks like the Holy Grail of tracking trades and more importantly, for automatically generating the proper tax documents (wash sales, schedule D, form 4797) and basic reports regarding your trading performance.
http://www.armencomp.com/gtttradelog/
Under the FAQ->Competition section in the website above, they mention that Quicken and MS Money are just not supported (and who knows, may never be) for the small minority of active traders. They claim their $275 program will easily import IB's trade history .txt file you download, although folks like me using Datek will have to import using the copy/paste feature directly from the trading history web page. Not that big of a deal, although the data for the current trading day doesn't show up until the following day.
http://www.armencomp.com/gtttradelog/import.shtml#IB
Who knows, if you have hundreds or thousands of trades to reconcile during tax time, $275 may be a drop in the bucket in terms of saving huge amounts of time and headaches.
I'm thinking of buying this program, so that's why I'm curious if anyone else has had any experience with it.
