After reading through this topic you will be able to:
1. Select an FX currency pair.
2. Assign a per contract value.
3. Enable the trade for "Finance Cost Express Update".
4. Assign the trade to any System.
1. Open an Owner.
2. Click on the "ENTER A TRADE" item of the main Stator treeview.
3. From the "<< Position Sizing TRADE ENTRY >>" screen, select "No Model" from the drop down selection.
4. Stator will enable the fields that you need to complete in order to enter the trade.
5. Select "FX" from the Instrument drop down.
6. For this example we are going to enter the following trade:
2 Mini Contracts AUDUSD
1 Contract = $10000
Purchased: 20th December 2006 at $0.7768
Leverage: 1%
7. Complete the fields as shown below:
The picture above shows an area highlighted in Yellow. This area is known as the instrument panel for FX related instruments.
It allows you to select the currency pair which is used for the trade and to also provide the value per contract.
8. Click on the "Submit" button to enter this trade.
9. From the first trade confirmation screen which appears, please enter the correct date for the trade, select the appropriate System, exchange and any other information which defines the trade.
The picture above shows the first trade confirmation screen, you will notice that the currency and exchange are locked (shown by the Red area). This is because both the exchange and currency are known for each currency pair available for selection in Stator.
The area which is identified by the Green area is the Entry exchange rate, this is used by Stator to reconcile the trade entry to the default currency. Enter the exchange rate which is applicable to convert the trade cost to the default currency at the time of the trade entry.
10. Click on the "Submit" button to bring up the final trade confirmation screen.
11. From the final trade confirmation screen, select the "Finance Cost Management" tab.
12. From the "Finance Cost Management" tab you can control various settings which are specific to trades which incur ongoing financing, i.e. FX CFD's etc.
13. Click on the "Submit" button to allocate the trade to the nominated System.
14. Trade entry complete.
