Multiple trading accounts support

Multiple trading accounts

A lot of professional traders have multiple trading accounts at different brokers. For example one account IRA, one account for stock and options trading and another one for futures.

Most of the trading journal software support multiple trading account with some hacks like a new database/file has to be created for each trading account or the trades from different brokers needs to be tagged. Both solutions have drawbacks. In case of multiple databases/files the overall picture cannot be seen. You cannot create a report which includes both accounts` trading performance. The tag solution has drawbacks as well, because if you trade the same symbol in multiple brokerage accounts the positions will be mixed.

TradingDiary Pro provides real multi account support, where the trades are separated by accounts but are stored in the same database and the user can generate a report for each account, a set of accounts or for all accounts. There is only one restriction that the sub accounts have to have the same base currency as the primary account.

How it works in TradingDiary Pro

Creating a new account

By default a database has only one account, it called primary account. To create a new account click on the Account Manage menu. Click one a the Create New button and fill the parameters like Account name and ID then click on the create.

Adding trades and cash transactions manually for different accounts

To book a trade for your new account simply add the trade manually as previously. By default the software adds the trade to the primary account. To change it click on the Account cell of the row and select the appropriate account from the drop down menu.

To book a cash transaction for the new account you can do so in the same way as in the Trade Blotter.

Automated import for different accounts

If there are multiple account in a database the import menu will be changed. By default the import menu contains two menu items, the Import itself and a Select Import Module menu. If there are multiple accounts the Import menu will show the accounts as a sub menus and each account has its own Import and Select Import Module. This means that you can set different import module for each account. For example if your Primary account is at ThinkOrSwim you can set the TOS import module for and your secondary account is at Interactive Brokers, then you set the web service or flex XML file import module for IB.

How to check the performance and other reports of each accounts and for all

When a new account is created TradingDiary Pro creates a new filter for that account as well. If you would like to check the positions of the Primary Account only simply click on the filter drop down menu and select Primary Account filter:

This filtering rules applies to the Report as well, as the filtering mechanism are the same for both tabs.