The trading dashboard is where accounts are surfaced for trade approval when it’s time to allocate them for the first time, rebalance, or put new dollars to work.
In This Article
Before we dive into the specifics of the Trading Dashboard, please note the use of filters. While working through a large number of trade lists (which we'll learn about in a moment), filters allow advisors to isolate accounts under a specific trade reason, custodian, or even a specific advisor (if utilizing Firm Trading).
(See image below for the location of the Filter button)
The Inbox tab allows you to review and approve accounts into your trading queue or snooze them to be traded at a later time.
- To review the trades the Autopilot trading service has generated for your account simply click on the account. This will expand the account view and show you the individual buy/sell orders being placed, the total number of shares being purchased, and the share price being used to create each order.
- To approve an account into your trading queue, simply click the checkmark to the right of each account.
- To snooze an account, click the clock icon and select a date to snooze the account.
- Once you’ve approved all of the trades you’d like to execute, click the Process Approved Trades button at the bottom of the screen. All of the trades that have been approved into your trade queue will be placed in a trade file that is downloaded to your browser.
**Important - When trading multiple accounts that are buying/selling the same equities, your trade file will be blocked. All trade files default to market orders expiring at the end of the day, but you may customize these options in your custodian’s order blotter.
**Important - All trades are calculated with share prices that are 15 minutes delayed.
Accounts will show up in the Inbox tab for 3 primary reasons. Those reasons are:
1. Autopilot Activation
When an account is activated from a current portfolio it will show up in the trading dashboard under the reason Autopilot Activated. Advisors commonly activate accounts on Autopilot for two primary reasons.
- A new account has been opened, funded, and now needs to be traded into a model.
- An account is currently allocated, but needs to be traded into a new model.
2. Risk Number Drift
Autopilot analyzes all autopilot enabled accounts every night for Risk Number drift. If an account moves more than six Risk Numbers away from the model being targeted, it will appear in the inbox with the recommended trades needed in order to return the account to it’s original risk number.
**To read more about the methodology behind Risk Number Rebalancing™, see The Autopilot Trade Engine.
3. Raise/Spend Cash Rebalances
When clients make contributions to an account, or you request an account be rebalanced to raise cash, the account will display in the inbox with the necessary trades required to spend the cash deposited, or raise the cash requested.
Accounts will display in the snoozed tab only when you place them there. Accounts in the snoozed tab will be moved back into your inbox on the date specified, but you can manually move them back into the inbox by clicking Unsnooze.
The Trade History tab is where you can reference and redownload all of your previously created trade files. Trade files are grouped by the date and time created. You can access and re-download trade files by:
- Click on the trade file batch to navigate to the page where trade files can be re-downloaded.
- Locate the custodian you’d like to generate a particular trade file for, and click Download again.
Downloading Trade Files and Executing Trades
Autopilot does not execute trades directly from within Riskalyze. In order to execute trades, you’ll need to drag and drop the trade files downloaded for your custodian into your custodian’s order blotter. Instructions on how to upload your trade file are included when downloading your files.
**Important - Riskalyze does not currently provide any execution services, and trades will be settled in the time it takes for your custodian to do so. Once an account is traded, it takes an average of 3 days (T+3) before the account's new holdings to sync back into Riskalyze.