I have two strategies within the same account at Interactive Brokers. I wish to sell a stock in one of the strategies and buy it in the other strategy (I don’t want to make any actual trades at Interactive). What’s the best way to do this in P123?
The best way is to transfer the transactions for that stock to the other strategy.
Go to the strategy with the stock in it. Click on the three bars under the strategy’s title. Click on “Transfer Transactions.” Click on the ticker in question, then select the strategy you want to transfer it to.
I’ve done “Transfer Transactions” and it works fine, but a “Transfer Position” option would be even more useful to transfer a single position from one strategy to another at some mark price, e.g. the latest close.
In my case, a strategy was holding a Russian ADR that was delisted and frozen. The strategy could no longer sell the position, so created a new manual strategy to transfer it over. Ideally, I would have transferred the position at the latest close and the original strategy would have shown the loss from buying the Russian ADR. But the Transfer Transactions option required me to transfer the Buy transactions that led to the position over to the manual strategy, misattributing the loss over to the manual strategy.
Thank you both. The transfer transaction is somewhat helpful but it now changes the history and performance of the two strategies involved. The ability to do an internal buy/sell between two strategies using a set price such as the last close as feldy suggested would be great!