A Quicken Bug I found
Datek will effortlessy let you go from a long postition to a short position in 1 trade, For example: buy 500 shares, sell 1000, then buy 500 to cover.
Problem 1: Quicken will not let you record this in 3 transactions.
Solution: You have to enter: buy 500 shares, sell 500, sell 500 short, buy 500 to cover
Problem 2: Quicken will appear to import the data parsed from my utility Datek-Q, just fine. It will even calculate the correct balance, BUT if you run a CAP gains report you'll see that Quicken didn't match up and calculate the profit/loss properly. In my case it took a small profit and reported it as an aprox $3,000 dollar loss
Solution: Delete the trades in question and manually reenter them as separate transactions as described in problem 1.
I rarely go from long to short in 1 transaction, and this first time I did was accidental -- I had tried to sell 1000 shares, got a partial fill of 500, canceled the order, then placed an order to sell 1000 shares again at another price, that left me with 500 short...duh, but I was lucky and made a small profit on it.
I have no intention of trying to find a work-around because this is a BUG in Quicken,involves a trading feature of Datek that I do not plan to intentionally use at this time, and fixing it would involve changing & adding trading data. You'll have to do it manually.
If you trade this way and use my utility BEWARE that your Quicken balance will be correct but your CAP GAINS report way off
Steve |
