For those that use IBKR and run several strategies, do you manually segregate performance offline in something like excel, or do you have a different IBKR account for each strategy?
Link IB with portfolio live strategy and portfolio will do the job for you. Other way is create subaccounts in IB for each strategy
I use one IBKR account and track each strategy's performance via its P123 port record only — I don't attribute actual execution (fills, fees, FX) per strategy, though I probably should. I wrote an app that imports the P123 holdings files each week, does the currency conversions, consolidates overlapping tickers across strategies into a single set of account-level targets, and rebalances both within each strategy and across strategies once drift exceeds threshold bands I set. I also do a lot of hedging, so it sizes that automatically off the hedge-signal readings and tells me whether to sell futures and/or reduce exposure. It works well for my purposes, but it has a few shortcomings others may not be comfortable with.
The Manage function is great for this. I run quite a few strategies using one linked IBKR account. Can rebalance everything in a few clicks and it tracks each strategy. I think this is an under appreciated feature of P123.
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Thanks All. How is cash handled if there is only 1 IBKR account but multiple P123 strategies? For example, in the IBKR account there may be $10K available. How is this allocated as seen in the P123 side in the various P123 strategies? What if you have a random ETF in the IBKR account like SPY? Is this considered its own strategy in P123?