SHARE PRICES ARE NOT UPDATED

TO: Anyone reading this post, please let me know if your prices were also not updated correctly for last week!

With this weekend’s (Oct. 17) update, I expected to see updated prices for last Monday’s (Oct. 12) trades. However, my six live portfolios—which had a total of seven trades last Monday—are still showing the average prices from the prior Friday (Oct. 9). Here are some examples:

All prices are based on the standard P123 average price calculation: (High + Low + (2x Close)) ÷ 4. The amounts above under ‘Listed Price’ are the correct prices for the Friday before (Oct. 9). So it seems clear that the prices stayed the same as they were last weekend, and were not updated to the correct price when the trades happened last Monday (Oct. 12).

At this time, I have manually corrected all these prices in my models. Some of these price-update failures include large differences between the prior Friday’s (Oct. 9) prices and the correct, average price for Monday (Oct. 12), including ROM (6.13%), QLD (6.32%), and QQQ (3.17%).

I don’t know how widespread this issue is, but it seems to me that it is A CRITICAL ISSUE FOR P123 that needs to be addressed ASAP. If prices are INCORRECT, then all P123 performance statistics are INCORRECT, and many trade recommendations will be INCORRECT.

Attempting to troubleshoot the issue, I have tried to rebalance each model again on Sunday, and when asked, telling the system to make the strategy current, but it makes no difference. The prices continue to show the prior Friday’s average price.

Please let me know if this is just a one-off issue for me, or if it is site-wide, and I hope the P123 staff will please let us know when this issue is resolved.

Thank you,

Chris

Chris,
just glancing through your thread and wondering if this could be similar to this one?
https://www.portfolio123.com/mvnforum/viewthread_thread,12452#!#75067

In manual rebalance mode, share prices are not updated. They remain Friday’s closing prices. This is because users often put their own prices in and we didn’t want to overwrite them.

You might want to create a Manage strategy that follows your live strategy. I’ve written instructions on how to do so on pp. 34-35 of the PDF here: https://www.portfolio123.com/doc/side_help_item.jsp?id=11 This allows you to accept or refuse recommendations and get accurate prices and, if you’d like, connect the strategy to your broker (if it’s IB or Tradier) and implement a variety of different orders. You can have either a paper account or a real live account. The only disadvantage to a live strategy in Manage is you don’t get quite as many statistics. But it’s a great tool.

My problem does appear to be the same issue, Jerome. But when did this start? I’m guessing it must have been recently because it is only now being discovered by P123 users.

It is very unfortunate that substantive changes like this (and several others over the 16 years that I’ve been a member) are implemented by P123 without prior notice to the users. If it was announced, then I missed it. Where can I access that notice, please?

Now I’ll need to go back and check/change all the prices for every position across all my models. Can someone please let me know when this policy was implemented? Thank you.

Chris

Here is the original announcement for the feature in question: https://www.portfolio123.com/mvnforum/viewthread_thread,8659
This announcement from 2015 describes the full extent of the feature. No subsequent improvements were made on this feature to cover additional use cases.

P123:

Thank you for that information. However, it has only confused me more. I have been using the same process for many years with something changed NOW, while this post is from 5 years ago.

Perhaps I’m still not understanding precisely what has changed. I have been running these live portfolios for a long time—some for more than a decade. I would appreciate it if someone could tell me where I’m going wrong. Perhaps I am misunderstanding.

I have had all my live models set to ‘Recommend,’ and would go through the Rebalance/Reconstitution every Saturday evening. At some point, the system would update the prices for last Monday’s trades from the average from the prior Friday, using (H+L+(C*2))/4 to last Monday’s average price, using the same formula. I really didn’t pay attention to when it took place. What was most important is that the prices were the accurate average for Monday, and didn’t reflect the old price from the prior Friday.

For example, last Saturday evening (Oct. 17) I clicked the ‘Rebalance’ tab on my live models, then selected the radio button for ‘Rebalance and Reconstitute,’ accepted or skipped any new trades, then clicked ‘Commit.’ At some point (which is unclear to me), prices for trades made on Monday, Oct. 19 will change from the week-ago Friday’s (Oct. 9) average price to the average price for Monday (Oct. 12) using (H+L+(C*2))/4.

I have gone through this same process for many, many years. However, this past weekend was the first time I noticed that after going through this same process—the one I have done for many years—the trades made last Monday (Oct. 19) WERE NOT UPDATED to Monday’s Prices. They remained the same, showing the old average price from the prior Friday (Oct. 16).

Has something changed?

Thank you,

Chris

Chris,

The prices in live strategies in automatic mode are updated, but those in live strategies in manual and recommend modes are not. It’s been that way since 2015. If you’ll send me the URL of your live strategy I’d be happy to investigate further.

  • Yuval