Day Trading

Davi's Avatar

Davi

19 May, 2023 02:19 PM

I'm currently entering lots of transactions in my investment account from day trading with crypto however I'm having problems with the ordering of these transactions and the reports seem off as well.

First, if I use avg cost basis the Gains in the report shows values in billions of negative amount when I short a stock and cover it later on. If I use Lot Matching and I have many transactions I can do the lot matching properly. Let's say that I entered two short transactions with the same date, same price, and amount. In the lot matching, Moneydance doesn't consider them 2 different transactions. So I have to stick with avg cost basis.

Secondly, for day trading it would be nice if Moneydance showed the time along with the date field to order and report correctly.

Finally, is there a specific reason that an investment account can't have a parent account as a bank account has?

Best regards,
Davi

  1. 1 Posted by dwg on 19 May, 2023 10:34 PM

    dwg's Avatar

    I'm a fellow user.

    Moneydance has not been written with day trading in mind, so I expect you will find deficiencies in this respect.

    In Investment accounts the Parent/Child relationship is being used with securities. Each security you associate with a Investment account creates a child account for that security in the Investment Account.

  2. 2 Posted by Davi on 19 May, 2023 10:47 PM

    Davi's Avatar

    Thanks for your reply... I've been a user since 2013. Even though it has its deficiencies is still better than most of the systems out there and I'm a programmer so building some scripts to import, report, etc is awesome.

    I've built an import script for my day trading and I was hoping to organize everything there to get a complete report and bring it to my accountant but it is a nice-to-have thing, not something that is gonna stop me or else.

    Regarding the Parent/child relationship thanks for the explanation. I was hoping to create an investment account with sub-accounts and separate the same security with different objectives. Let's say that I buy APPL every first day of the month in one strategy and in a secondary approach I buy it only when it goes lower than the 250 moving average but I've used the same brokerage company(account). I'd like to compare the gains between my approaches in the reports and graphs. It would be nice to have separate reports for these sub-accounts and one aggregate report for the parent one.

    Regards,
    Davi

  3. 3 Posted by Stuart Beesley ... on 20 May, 2023 05:03 AM

    Stuart Beesley (Mr Toolbox)'s Avatar

    Investment accounts cannot have sub (investment) accounts. If you want the technical reasons, shout?

    Each txn stores a millisecond time stamp (hidden) so you could write your own script to leverage that field.

    You could use extract-data, extract investment transactions option (to csv file) and then code your own very specific reports from there perhaps?

  4. 4 Posted by Davi on 20 May, 2023 03:13 PM

    Davi's Avatar

    Thanks, Stuart. No need for the technicals :)

    Yes, I think I'll try to write my custom reports. I understand that is very specific indeed but is nice to test the flexibility that Moneydance has to some extent.

    Have a nice weekend.

    Davi

  5. System closed this discussion on 19 Aug, 2023 03:20 PM.

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