Does anyone know of a good accounting package for traders? Something that can handle multiple currencies, enters trades in a sensible fashion and does all the other usual acounting stuff. The problem I have found with some is that they are not suited to traders. They require vendors, and inputing a trade which is not a buy and sell (sell and buy), say like expiry of options, just doesnt compute. I have only tried extremely simple programs (totally useless) and MYOB (over complicated and not suited for traders).
I recently purchased Quicken 2006... more suited for Investors, not traders, but it downloads the data from Ameritrade which is the broker I use, but my personal bank doesn't have online banking, so I'm screwed there. I have yet to find a solution for traders. But I am yet to be completely profitable, but I'd love to track my losses and breakevens, until I will be consistantly profitable. Until then, I will stick with Quicken as MSN Money hasn't done it for me personally. Maybe on Linux there is a solution, but i'm not sure. If anyone knows, please let us know
http://stockgappers.com/mm/Stock Gapper Tracker.xls Its simple, straighforward and customizable. I've been using it for a while and like the simplicity of it. Download it and play with it.
Check out this thread.... http://www.elitetrader.com/vb/showthread.php?s=&threadid=54103&highlight=performance+software
I just want to emphasise the need the software is an accounting package, hence it not only records are trades and provides a profit loss summary but manages assets and expenditure. Handles depreciation and possibly even payrole. I found MYOB would have been nice if it didnt require the need for all transaction to be based around vendors. I will have a look into Quicken.
Use their gainskeeper service. It worked for one of my accounts. You can export into xls and quicken(i think).