Adding Open Short Positions

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.

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.

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?