Stocks and shares

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didikrm
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Stocks and shares

Post by didikrm »

Hello,

This is my first post on this forum. I realise that it's not currently very active, but I am hoping that this will help new users how to set up stock portfolios on this amazing app!

I have followed the instruction in the documentation on how to create a stock portfolio and how to add shares to them. However, I needed to create a cash account which is used to purchase those shares and receive dividends or funds when the shares are sold. I think having a cash account is how broker accounts work in that they are used directly to store the funds.

Following this approach means that the shares transactions originate from the broker (cash) account rather than the stock shares (as explained in the guide). So in my example, the "account" would the cash broker account rather than the shares account (see screenshot: https://ibb.co/qFLbL0Z).

As a result of this, when I click on any shares on the left menu, I see the content of the accounts that link to them rather than the list of purchases, dividends and sale made. I am curious if others use the same approach when reproducing the structure of their broker accounts.

My other question is about how to handle close positions (not just partial but sell all shares from a single company/ETF). At the moment, I create a dummy payee called "Closed positions" and replace all existing actions of purchases/sales/dividend related to that stock into deposits and withdrawals from/to the broker (cash) account, then delete the share account. Again, I am curious to know how other users handle such scenarios.

Thanks in advance for your inputs. Hopefully, this will be helpful for other looking to use MMEx to track their stock investments.
Nikolay
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Re: Stocks and shares

Post by Nikolay »

didikrm
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Re: Stocks and shares

Post by didikrm »

Thanks Nikolay. I know that you are working on some great enhancements to the app. I am not a coder, but I can help with the testing when it's ready.

I was just trying to see if and how others use MMEX to actively manage their stock holdings.

Looking forward to v2.
jsantacana
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Re: Stocks and shares

Post by jsantacana »

Hello.
I am very happy with version 1.3.6, so thank you very much.
However I cannot use Investment accounts stocks and shares because they don't work properly.
I can't wait for the new version 2.0 hopping it will work well with Investment accounts.
Nikolay
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Re: Stocks and shares

Post by Nikolay »

May this video would help?

jsantacana
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Re: Stocks and shares

Post by jsantacana »

Thank you so much Nikolay.
I really do appreciate your help. Perhaps I don't know how to work with them.
I am going to follow slowly the steps showed on the video.
Abramoluna1
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Re: Stocks and shares

Post by Abramoluna1 »

I have been fearing investing from stock but this is really the way!
Thanks pal!
Nickallington
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Re: Stocks and shares

Post by Nickallington »

Hi all
I have trouble with this too. I think the stocks and shares part is the weakest element of MMEX, which is otherwise a very useful tool. I have trouble setting it up if I already have stocks, as no money is transferred in to start the process, and I don't want to go back and record 20 years of data to facilitate it. Also, there are problems when, as happened with me, a companyI held with shares in EUR was taken over by an American company, so I now have an equivalent holding in USD, or another EUR one which was taken private by a UK company, so I received a lump of cash in GBP. And dividends? I have not found a way to manage dividends that are paid directly into a personal bank account, and not via a broker account. Interest? Bonds are not covered at all. They pay interest rather than dividends, and though I use the dividend option, they are taxed differently, meaning I have to separate them out in reports. Distributions from unit trusts/mutual funds are also not included, whether reinvested or taken out as cash, and scrip dividends and share splits are also missing.This whole area is where a lot of simplification and user-friendly logic seems to be needed, or at the least, some more comprehensive user documentation. I look forward to any improvements you can all come up with!
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Renato
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Re: Stocks and shares

Post by Renato »

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BohoRex
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Re: Stocks and shares

Post by BohoRex »

I'd LOVE to see a fresh "how to" video or instructions on setting up a fresh investment portfolio...

i.e.: Initial setup of a broker account ( such as Fidelity ) - then showing in MMEx how to make the transfer of funds from my bank account already set up - to Fidelity - then the individual stocks purchased on each transaction. (Fidelity does this as a money-market cash account to hold funds til I choose what stocks/mutual funds to purchase within my IRA account with Fidelity)

The YT video presumes prior setup of that (from what I can see) - and with it being a new year - it's a prime time to start fresh (for me)... I have setup an investment account in MMEx - that had an initial cash balance - but I can see no way to transfer that cash to stock (or mutual fund) purchases... when I add transactions - it simply adds to the balance - making it look like I have 2x the money that's really there (doesn't move it from the initial balance to have made the purchases). I see no option to transfer funds from one account to another for a stock transaction to be made.

I've played with MMex for several hours - and for the life of me - just can't figure out how to handle those transfers and then the mutual fund purchases... and have it show up correctly in MMex


Win 64-bit version 1.6.2
oldgrayrider
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Re: Stocks and shares

Post by oldgrayrider »

New user trying to sort out portfolio accounts. Problem: how to create a recurring transaction as part of an income amount (payroll) going to a portfolio account as a 401k transaction. Two income contribution amounts, 1 from employee and 1 match from employer. I am so far not able to execute this.
steen
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Re: Stocks and shares

Post by steen »

Hi Nikolay,
have you got any news about the 2.0 version?
Release date?
Thanks in advance!
Nikolay wrote: Sun Jan 10, 2021 7:12 pm It's very complicated and confusing. I'm trying to solve this in version 2.0.0.

https://github.com/moneymanagerex/money ... ssues/2718
https://github.com/moneymanagerex/money ... ssues/2729
https://github.com/moneymanagerex/money ... ssues/2702
MartinArmstrong
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Re: Stocks and shares

Post by MartinArmstrong »

steen wrote: Mon Aug 28, 2023 1:32 pm have you got any news about the 2.0 version? Release date?
The next release after the current 1.6.4 will be MMEX 1.7.0. There is no fixed released date for that version yet but it is getting near.

Beyond that there will be MMEX 1.7.1, 1.7.2 etc.

There are certainly no solid plans yet for version 2.0. Much has changed in the world since @Nikolay wrote his comment in Jan 2021.
karsey
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Re: Stocks and shares

Post by karsey »

A workaround for setting up your initial stocks is to pair each initial "purchase" (or withdrawal in the share account) with a transfer from a bank account for the same amount. Just do it for all your shares until they all have two entries: one for the initial setup purchase/withdrawal and another for a transfer from a bank account for the same amount.

When you're done, your bank account is going to be completely out of whack, it's fine.

Just adjust the starting balance by an appropriate amount which makes brings it back to the actual starting balance.

Eg. You've just set up your mmex database and you're starting from scratch, you set up a checking account with $100, a savings account with $500, and then you set up your "MyBroker" under stock portfolio, add a transaction, and you have 10 shares of ABC.NYSE with an average cost of $3, so the amount invested is $30, and the current price is $5, bringing the account value to $50 with an unrealized gain of $20.

When you create the share account, and create the initial withdrawal transfer for $30, subsequently go into the share account and make a transfer from your checking account for $30. The balance in the share account will be 0. The stock portfolio will be fine.

However now your checking is at $70 and that's just not true! Right click on it and adjust the opening balance by +$30.

All is well in the world. I hope this is helpful for someone!
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