You can add alternate names in Ancestry and mark one as preferred. Then all the names will be search. I generally use the quotes to indicate a nickname.The alternative name option in Ancestry sounded ideal, but when I tried it, the record wasn't found when searching for the alternative name.
Using quotes does work.
Brackets and slashes cause names marked in that way not to be found.
My great-grandfather was born Menachem Mendel Szteijnsapir, booked passage as Mendel Sapier, lived in the US as Mendel Stein, buried as Menachem Mendel ben Aryeh Leib.
Therefore my entry for his given and family names in my Ancestry tree read Menachem Mendel and Stein Sztejnsapir.
I have saved alternate names for Mendel Stein, Menachem Mendel Sztejnsapir, and Mendel Sapier.
Though I chose not to use quote marks in any of the above entries, I will consider using quotes for some nickname when I think it helps clarify the record.
Lee David Jaffe