QuantAscent — Frequently Asked Questions¶
Quick answers to common questions. For detailed walkthroughs, see the Screen Guide or Setup Guide.
Getting Started¶
Do I need an Interactive Brokers account to use QuantAscent?¶
You only need IBKR if you want to run a strategy with real or paper money. Research, Strategy Builder, Backtesting, Company Analysis, and Company Screener all work standalone against the built-in financial database. The first launch starts in Demo Mode so you can see the Dashboard, Strategy Performance, Holdings, and Account views populated with a three-year sample portfolio while you decide whether to connect a broker.
What is Demo Mode?¶
A sample portfolio that fills the broker-statement-driven views (Dashboard, Account, Holdings, Strategy Performance, Trade Log) with three years of simulated daily activity starting from $100k, so you can explore the app before connecting IBKR. A persistent yellow banner sits at the top of each affected page so you can never mistake sample data for real numbers — clicking it opens the broker setup flow when you're ready. Both demos auto-deactivate cleanly: the broker-statement demo turns off the first time a Flex query parses successfully, and the IBKR-prices demo turns off the moment the gateway connects. You can run indefinitely in Demo Mode if you only want to use the research and backtesting features.
What if I don't have IB Gateway installed?¶
Without IB Gateway, you can still track your portfolio using the Flex Web Service (which works over HTTP — no software needed). You just won't have real-time prices or automated trade execution. The Flex API handles daily snapshots of positions, trades, and NAV.
Can I use a paper trading account to test things out?¶
Yes. The cleanest approach is to create a separate Paper portfolio in the Portfolio Manager — each portfolio is labeled with its money type ("(Real Money)" or "(Fake Money)") wherever it appears in the UI, so you can never mistake one for the other. Each portfolio has its own Flex Query and token, since IBKR paper accounts have a separate Client Portal session from live — create your paper Flex query while logged into the paper Client Portal, then enter that query ID and token in Settings > IBKR Connection when the paper portfolio is active.
If you only need to switch a single portfolio's mode (without creating a separate one), open Settings > IBKR Connection > Account Mode and toggle "Live Trading Mode" off — this points the connection at port 7497 instead of 7496. Most testers find the per-portfolio approach cleaner.
What's the difference between IB Gateway and TWS (Trader Workstation)?¶
Both work. IB Gateway is lightweight and headless — it just provides the API connection without the full trading interface. TWS has its own trading UI but also exposes the same API. Either one works with QuantAscent. During alpha, TWS is recommended so you can see live trades and account state alongside QuantAscent while you build confidence in the app. Once you trust the reconciliation, IB Gateway is a fine lighter-weight replacement.
Daily Use¶
What happens if I close the app for a few days?¶
When you reopen QuantAscent, it detects the gap and offers to backfill the missed trading days automatically using IBKR's Flex API. No data is lost — the app catches up on its own.
Can I place trades directly in IBKR (outside QuantAscent)?¶
Yes. Trades made directly through TWS, the IBKR mobile app, or any other IBKR interface will be picked up automatically during the next Flex sync. They'll be attributed to your Discretionary strategy so they don't show up as "Unknown."
How often does the scheduler run?¶
The scheduler runs the full morning pipeline on each trading day starting at 5:00 AM ET — downloading Flex statements, processing trades, updating benchmarks, running backups, and generating reports. Strategy rebalances execute according to their individual schedules. The scheduler only runs while the app is open.
What does the scheduler do?¶
| Time (ET) | Job |
|---|---|
| 05:00 | Download daily Flex statement |
| 05:05 | Process trades |
| 05:10 | Log closed lots |
| 05:15 | Update benchmarks |
| 05:20 | Update strategy logs |
| 05:30 | Run backup |
| 07:40 | Generate reconciliation report |
| 07:45 | Generate tax schedules |
| Saturday 21:00 | Sync financial database |
Will my strategies execute trades if I'm not looking?¶
Only if you've enabled Auto-Trade in Settings > Trade Execution. When enabled, the scheduler will execute rebalances at their configured times. When disabled, rebalances only happen when you manually click the Rebalance button. You're always in control.
How do I stop a strategy from trading without deleting it?¶
Toggle the strategy to Inactive in the Strategy Manager. This preserves all your configuration and historical data — you can reactivate it anytime.
Portfolio & Data¶
Where is my data stored?¶
All data is stored locally on your machine:
| Platform | Path |
|---|---|
| Windows | %LOCALAPPDATA%\QuantAscent\ |
| macOS | ~/Library/Application Support/QuantAscent/ |
Nothing is stored on external servers. The only outbound connections are to IBKR (for your brokerage data) and the QuantAscent data server (for the financial database).
What's the difference between TWR and MWR on the Dashboard?¶
- TWR (Time-Weighted Return) — how well your strategies performed, regardless of when you deposited or withdrew money. This is what fund managers are benchmarked on.
- MWR (Money-Weighted Return / IRR) — what you actually earned, accounting for the timing and size of your cash flows. If you deposited a lot of money right before a big gain, MWR will be higher than TWR.
If you haven't made deposits or withdrawals, they'll be the same.
Can I manage more than one portfolio?¶
Yes. Open the Portfolio Manager from the sidebar. Each portfolio is completely isolated — its own positions, trades, strategies, and performance data. You might use one for your live account and another for paper trading experiments.
How do I back up my data?¶
Go to Settings > Backup and configure a backup folder. The scheduler runs daily backups automatically. You can also manually copy the entire data folder (see "Where is my data stored?" above).
Can my data files be edited manually?¶
No — QuantAscent uses read-only file locking to prevent accidental manual edits of portfolio data files. This protects data integrity. All changes should be made through the app.
Strategies & Trading¶
What's the difference between Equity Scoring, Fixed Allocation, and Discretionary?¶
- Equity Scoring — a dynamic strategy that scores stocks using financial metrics and automatically selects a portfolio. Stocks rotate in and out as their scores change.
- Fixed Allocation — a static strategy that maintains target weights in specific tickers (like ETFs). It rebalances back to target when positions drift.
- Discretionary — a built-in strategy that automatically tracks any trades you make outside of QuantAscent. You can't delete it, and its allocation updates automatically.
What are the order modes?¶
- Limit — starts at the mid-price and adjusts if not filled within the timeout. Best for minimizing slippage.
- Market — executes immediately at the current market price. Best for certainty of execution.
- Limit then Market — tries a limit order first, then falls back to market if not filled. A middle ground.
Configure this in Settings > Trade Execution > Order Mode.
What happens if IBKR disconnects during a rebalance?¶
QuantAscent has mid-trade disconnect detection. If the connection drops during execution, the app detects the interruption and reconciles orders on reconnection — checking which orders filled, which were cancelled, and which need to be resubmitted. No duplicate trades.
Can I trade outside regular market hours?¶
Yes. Enable Extended Hours in Settings > Trade Execution. This allows limit orders to fill during pre-market (4:00 AM–9:30 AM ET) and after-hours (4:00–8:00 PM ET). Market orders cannot fill outside regular hours — this is an IBKR limitation. Note that after-hours liquidity is lower and spreads are wider, so fills may be less favorable.
Can I use margin?¶
Yes. Enable Margin Mode in Settings > Trade Execution and set a Max Leverage cap (up to 4x). Position sizing automatically respects your margin limits, and rebalances cap their buy budget at NAV × Max Leverage − GPV so the app can't drift past your configured leverage even if IBKR's reported available funds would allow it. The Dashboard shows your current leverage ratio when margin is enabled.
What does "Min Trade $" mean?¶
It's the minimum dollar value for an individual rebalance trade. Trades smaller than this amount are skipped so that commissions don't eat up the gains. For example, with the default $50 threshold, a rebalance that would buy \(30 of a stock is skipped — a ~\)1 IBKR commission on a $30 buy would be a 3%+ drag before the position ever moves. Set the field to $0 to disable the filter entirely.
Research & Backtesting¶
What is the metrics matrix?¶
A precomputed dataset containing 120+ financial metrics for ~5,000 US stocks, organized by date. It's the raw material that powers the Research tools, Strategy Builder, Screener, and Backtester. The matrix is built locally from the financial database and saved on your machine.
How often should I rebuild the matrix?¶
The matrix only needs to be rebuilt when you want to incorporate newer financial data. If you downloaded a database update, rebuilding the matrix will include the latest metrics. You can build multiple matrices with different date ranges or lookback periods.
What does IC (Information Coefficient) mean?¶
IC measures how well a financial metric predicts future stock returns. An IC of +0.05 means the metric has a modest positive predictive relationship. An IC near 0 means it's not predictive. See the Glossary for more detail, or the Research Analysis for the full methodology.
How far back can I backtest?¶
Up to 20 years of history, depending on when the financial data begins for the stocks in your strategy's universe.
Updates & Troubleshooting¶
How do updates work?¶
QuantAscent checks for updates automatically on each launch. On Windows, updates download and install silently — the app restarts with the new version. You can also check manually from Settings > Software Updates.
The app shows "IB Gateway: Disconnected" — what do I do?¶
- Make sure IB Gateway (or TWS) is running and logged in
- Check that API connections are enabled in Gateway settings
- Verify the port matches your account mode (7496 for live, 7497 for paper)
- Check that "Allow connections from localhost only" is enabled in Gateway
My Flex download is failing¶
- Flex tokens expire periodically — regenerate yours in IBKR Account Management under Flex Queries
- Verify your Query ID is correct in Settings > IBKR Flex Credentials
- IBKR rate-limits Flex requests. If you see retry messages, wait a minute and try again
Where do I find log files?¶
Click Help & About in the sidebar, then click the Open Log Folder button. The app.log file contains detailed diagnostic information. Include this file when reporting bugs.
How do I report a bug?¶
Open Help & About from the sidebar, describe the issue in the text box, and click Submit Bug Report. Your system info and log file are included automatically — no need to find or attach them manually. The developer is notified by email when a report is submitted.