Hello Sharesight,
How do I add an open equity short position without SS erroring? In other words entering a Sell order first without the corresponding Buy order which has not yet been executed? Thanks.
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Hi @Peter123, so we don’t support short selling in Sharesight. Unfortunately, you won’t be able to track these trades.
Thats it, no suggested workarounds or tricks to accommodate short sells?
Considering the many $$millions spent on product development I’m surprised and disappointed SS cannot handle a popular and common trade type - short sell trades.
Is it on the product development road map?
Thanks.
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Think this should be a key function. shouldn’t be too hard to just allow a negative first trade or a sell trade without opening balance. Can easily be checked with a “ARE YOU SURE YOU WANT TO ENTER A NEGATIVE TRADE OR A SELL TRADE WITHOUT A CURRENT BALANCE” item i would have thought.
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That is a serious limitation. Short sales are an extremely common type of transaction. The main purpose of sharesight is to facilitate transaction tracking through reports the broker can’t provide.
If it can’t track something as simple as short sales it just about defeats the purpose of the software. Please consider adding this key functionality.
The Workaround is to set up a new portfolio. “Short Sales”. In the new portfolio you only enter your short sales as if they were “buys”, and when you close the position, it’s a “Sell”, even though in reality it’s the exact opposite.
So in the end, you will have two portfolios, your “long - only” portfolio and your “short only” portfolio. You just have to remember that in the short portfolio everything is the opposite of what you entered.
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This doesn’t solve the problem especially for running FIF tax reports (New Zealand residents).
Sharesight Support say;
“There isn’t any workaround to enter short-selling in Sharesight simply because the system does not accept negative quantity unless your short position is closed within the same day” And
“…The FIF report is not even designed to handle short sales.”
You are right - this is a significant shortcoming of Sharesight.
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Agree - what is the point of adding the Peruvian exchange but you cant add a simple short sale
It has been asked and not sure if i saw the answer but is there a plan to implement this?
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This is crazy… i just signed up and have over 100 invalid holdings due to short positions. Can you provide some guidance if this is on your road map? and if so, when? I am not sure I find enough value in this platform if this is the first gap I have experienced.
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I have just signed up as well, and also find this a serious omission. As other people say, what’s the plan to fix this?
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I was thinking about paying for this service, but the lack of this key functionality, and the lack of any insight into whether you will ever implement it, or whether you are listening to customers, gives me pause.
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I am very p*ssed off that I have paid for Sharesight and then discovered that it cannot handle short sales. Certainly won’t be renewing unless they add this basic functionality.
Thank you for your interest in short-selling. We appreciate you taking the time to share your feedback with us and we’re keeping it in mind as we develop our product roadmap. We are here for you and would be more than happy to help with any additional queries or concerns you may have.
Pls make this a priority - it would help many current customers such as myself and more than likely attract many more having this function. If you can make this trade in the markets (short sell), you should be able to have it recorded properly in Sharesight.
Cheers
Hi Jack
How do we make this a priority pls?
Is there a problem or difficulty for the team to implement this?
Pls let us know.
Thanks
Sharesight team - It looks as if 12 months have passed since users on this thread first raised the matter of short sales. Have you made any progress toward enabling the recording of short sales on Sharesight? As others have already pointed out, the absence of such functionality is a serious shortcoming of your product. What is your timeline for resolving this issue?
Agreed - the customer service from Share Sight on this matter is poor. No proper explanation about why this feature is not already available.
Sharesight - how about you step up and give a meaningful response to your many paying customers who have asked for this feature over the last 12 months. Show some respect instead of fobbing us off with the occasional meaningless “we’ll keep it in mind for our development roadmap”.
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Further to this thread I see no point in using Sharesight without a shorting function, so won’t use it till one is added. Thanks but no thanks.
Still waiting for short sale tracking after years…
Really annoying paying all this money for functionality but then having to do loads of manual calculations subsequently.
I can’t even track my balance correctly through ShareSight.
Honestly not sure why you’re adding support for 80,000 Luxembourg funds when this glaring omission still exists.