Morningstar Portfolio Facility Problem

Judesman

I have two portfolios listed on the Morningstar web site and refer to these daily to review my investments. Now I find that only the previous days price is quoted. I have taken this up with Morningstar and I have been advised:

"I am sorry to inform you that Morningstar.co.uk website has lost real-time updating in portfolio manager. We will consider adding delayed data but there is no immediate plan."


I am reluctant to re-create my portfolio on a different web site but can anyone recommend an alternative please?

getting_close

Similar here, found it useful, but if latest prices are 24 hrs out of date not much good

AnotherJoe

Why do you need real time prices? Serious question. Are you a day trader ?

Judesman

I am not sure what you mean by a "Day Trader" but I keep a close eye on my investments and I would like to know , on the day, how my shares are performing.

Thrugelmir

The London Stock Exchange is an option for you.

Judesman

Does the London Stock Exchange allow me to create a portfolio with price updates?

Thrugelmir

Yes it does.

AnotherJoe

Judesman wrote: »

I am not sure what you mean by a "Day Trader" but I keep a close eye on my investments and I would like to know , on the day, how my shares are performing.

A day trader is someone buying and selling investments on a very frequent basis, typically daily. So they need to know prices in real time because they might for example buy Shell at 9am sell it at 10am buy Exxon at 11 am sell it at 3pm and buy Amazon at 5pm. And so on.

The danger looking at your investments in real time is that you consider minor fluctuations within a day to be significant and start trading on that basis, which long term will almost certainly lose you money . If you've bought a fund for say ten years there's little point looking at it in an intraday basis and trying to divine what that means. Of course if you've just bought it for a few hours or days then you do need to know what it's doing.

Judesman

Many thanks. No, I don't trade that frequently and some of my investments I have held for many years however, I like to know what is happening today and not what happened yesterday. I found Morningstar very convenient and simple to use and don't really want to start all over again.

Thrugelmir

Real time pricing feeds costs money not a free service. Imagine the demand for the service has decreased. As online brokerage accounts allow people to view their holdings whenever they want. Prices can fluctuate within minutes depending on what trades are going through the market. So arbitary anyway until one actually sells.

AnotherJoe

Thrugelmir wrote: »

Real time pricing feeds costs money not a free service. Imagine the demand for the service has decreased. As online brokerage accounts allow people to view their holdings whenever they want. Prices can fluctuate within minutes depending on what trades are going through the market. So arbitary anyway until one actually sells.

Exactly. Say investment X is showing at price 1053, when you look an hour later it might be 1052 and an hour after that 1057. Unless Investment X is a fund in which case its price only changes once a day anyway, and if you put in a sell you'd probably get the price at tomorrows fix which obviously you dont know, so it seems all a bit pointless needing to know the price at say 247pm.
It gives the illusion that you know something useful. But you dont, and worse your mind is liable to make stories up about what the changes mean and take action on those, when its mostly just a Random Walk On Wall Street.