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Futures contracts: forcing share basis as specific lots rather than average

dave344
dave344 Member ✭✭
edited November 2020 in Investing (Windows)
I am trying to record futures trades in Quicken Premier. There is no asset class for futures in Quicken so I record it as "other." A contract is recorded at it's notional value. As long as I open and close all contacts in a single day, I have no problems with this approach. But contracts held open overnight are marked to market and this makes it difficult for me to reconcile gains and losses. For example, if I open five contracts and then close four of them by end of day, Quicken appears to be assigning an average cost basis to the one remaining open contract. This makes it difficult to match up with the subsequent closing trade. What I'd like Quicken to do is preserve the original cost basis for each contract and then close them out on a first in first out basis. Thus if I closed four and had one open contract at the end of the day, the one open contract would have a cost basis equal to that of the last traded contract. Does this make sense? What I want to do is enforce FIFO/specific lot cost basis on all my futures trades. Is this possible? If so, how do I do it? Thanks.
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