TOS Allocation Group orders

Discussion in 'Online Brokers' started by garyw, Oct 11, 2016.

  1. garyw

    garyw Well-Known Member

    Do any of you use the Allocation Group to distribute trade orders across multiple accounts?
    If so, can you list the problems you encountered?
    Here are my 2 most common opportunities for improvement:
    1) Failure (or significant delay) for the order to be acted upon. (Todays order to buy the DEC 30 Butter at 10 cents would not fill, but subsequent orders (not allocation) to buy a 5 cents fills immediately.
    2) After successful completion, the order remains present under "Working Orders", and requires TOS support to clear it.
     
  2. Paul Demers

    Paul Demers Well-Known Member

    Do you use Allocation Group or Multiple Accounts ?
     
  3. garyw

    garyw Well-Known Member

    Allocation Group orders.
    My reasoning is to minimize the ERRORs I make when "changes" are required. With an allocated order, I can retrieve the entire order (that is still Working), and alter it. With Multiple accounts, if a change is needed, I have to pull up each account order and "modify" each individually. Also, I typically "save the allocation" for future use, if the trade requires any changes, as each account relative size is preserved.
     
  4. Paul Demers

    Paul Demers Well-Known Member

    I have found in the past couple of years the Allocation Group order does not work properly and I have been using the Multiple Account orders with no issues. I have several allocations stored and recall them when necessary. Maybe you could call TOS and see if they will fix it. You may have better luck than I did.

    I will go to working orders and delete entire order allocation and resubmit order. The only time I will go to each account is if I get partial fills.
     
    Last edited: Oct 11, 2016
  5. garyw

    garyw Well-Known Member

    I have been reporting Allocation Group handling errors to TOS for a few years. This seems to be a "back-burner" topic for them, but I do think they get added to their Queue (or considered for addition). However, most of the earlier errors I encountered are no longer being observed (improvement has been observed). I have discovered the hard way that one should never have an outstanding conditional Allocation order on a security thru Ex-Dividend!
    I now contact them to correct my issue #2 above on a weekly basis. This is not really a big deal to me, and if they want to reduce their workload, they can chose to fit it.
    I will insure they are aware of this (#1 above) as well.
    Thnx for the advice on using a stored allocation for Multiple Account orders --- Had not considered that.
     
  6. Similar to Paul, I've been using the 'Multiple Accounts' option for several years (I can't recall ever trying the Allocation Groups). When I setup a trade in ONE and/or the tracking spreadsheets, part of the trade name is the Multiple Account name associated with the trade. If I need to change the trade, I use the 'Cancel Entire Order Allocation', and then create a duplicate order from one of the cancelled orders and change the quantity back to the original. Similar to Paul, the only time I go to individual accounts is if I get a partial fill. It's a fairly rare occurrence, but it does happen from time to time.

    I've occasionally had the issue where an order that has been filled remains under the 'working orders' section for a considerable amount of time. Typically this has been during fast moving markets.
     
  7. garyw

    garyw Well-Known Member

    Stephen:
    ", I use the 'Cancel Entire Order Allocation', " <-- THANX! I had no idea that was available for Multiple Account orders!
     
  8. status1

    status1 Well-Known Member

    I just saw this thread and I wanted to clarify something for myself
    What does it meant by multiple account ?
    Is this a separate account for a family member or maybe an IRA account or a cash account?
    I was told that you can have only one margin account as an individual account
    Is that still the case when it's refereed to here as multiple accounts ?
     
  9. Paul Demers

    Paul Demers Well-Known Member

    I had two margin accounts under the same names. When I converted one of the accounts to a portfolio margin account I was told that the other account would have to be converted to cash as it was not allowed. So if things haven't changed it is my understanding that you can have more than one margin account. Multiple accounts just means that the accounts are linked together and can include IRA, family and friends accounts. I believe that TDA has a limit of 10 links.
     
  10. garyw

    garyw Well-Known Member

    I think your understanding is correct.
    For example: You may have
    1) a Joint account,
    2) A Roth IRA account,
    3) A standard IRA account,
    4) your sibling's accounts,
    5) other peoples accounts,
    6) corporate accounts,
    Each account requires unique registration, so unable to have say multiple Joint accounts in your name.
     
  11. Paul Demers

    Paul Demers Well-Known Member

    Just checked and I was wrong about the having multiple margin accounts. They do not allow more than one like titled account with margin capabilities.
     
  12. status1

    status1 Well-Known Member

    Thanks for checking I thought that was the case
    So I guess in this case the multiple account means other cash accounts or margin account but not with the same name
    I wanted to open another account at TDA to have separate account for trying different trades or strategies
    rather than having one big account and than figure out how much cash I have left for trading This also has a self limiting effect which I think I need knowing myself so it keeps me from scaling up too much and getting into trouble with bigger losses
    So I opened an account at a different brokerage and I am using the analyzer tab to keep track of the trades in different accounts that way
     
  13. garyw

    garyw Well-Known Member

    status1:
    I know what you mean! (I think? I know)
    Perhaps that is a platform feature that some savvy brokerage or intermediator should develop. Ability to track by trade, instead of just by account.
    Short 5 X in trade A
    <more trade A positions>
    and
    Long 5 X in trade B
    <more trade B positions>
    Will still allow viewing Trade A and Trade B correctly, even though the account has no position in X!

    Sad one has to open accounts at multiple brokerages for this!
     
  14. status1

    status1 Well-Known Member

    A while back I was planing to try Dough but since it was part of TDA it was considered the same account but now with this new brokerage announcement from Tasty works I may have a chance to open another account although I have to see what features it will have and what the commission fee structure will be
     

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