Use pre-defined Account Groups to allocate order shares/contracts.
To allocate shares/contracts using an Allocation Group
- Use the Allocation field drop down list to select an Account Group, a single account or All* accounts.
- For the selected Account Group, modify the per-order allocation method if necessary. User-specified methods aren't editable on a per-order basis.
- Click Submit to send the order.
Also, while the available Group methods no longer include the Percent Change method as a selection (only Percent-Based), this method can be used to calculate the order quantity when the Group includes positions in the selected instrument. In this circumstance, the Quantity field will show a "% Change" section where you can choose the percent by which you want to increase or decrease positions. Once calculated, the Quantity field will display the percent with either Ind or POS.
For example, if you use the Size Wand (by clicking in the Quantity field) to select 50%:
If the group comprises all Independent positions (none are in a Model Portfolio) and the total of all positions is 600, the Quantity display will read: 50% POS. Hold your mouse over the quantity to see the actual order size – in this case 300 shares.
If the group includes positions totaling 600 but 200 are part of a Model, the Quantity calculation will only use the Independent positions and the Quantity display will read: 50% Ind. Hold your mouse over the quantity to see the actual order size – in this case 200 shares.
* The option to select "All" accounts is hidden if the number of accounts in an IBroker family is greater than 50 (unless the IBroker is enabled for allocations).