This tutorial will illustrate how to close a trade. For this example we will close a TLS long stock position, details as follows:
Exit Date: 13 Feb 2007
Exit Quantity: 700
Exit Price: $4.60
Brokerage: $25.95
STEP 1: Select the open trade
The first step is to select the open trade which you are going to close. Select the trade by first selecting the System. From the "Portfolio" screen select the open trade and click on the "Close Trade" button.
This will open the trade disposal screen.
STEP 2: Enter the details for the trade disposal
In the trade disposal screen, complete the details for the quantity, exit price, brokerage, exit reason etc.
STEP 3: Click on the "Calculate" button
Clicking on the "Calculate" button will force Stator to calculate the Profit/Loss for the trade and display it at the bottom of the screen.
STEP 4: Review other settings
After you have clicked on the "Calculate" button you should check the settings on the other tabs of the trade disposal screen. Other tabs include;
Taxation Summary
Allows you to amend the tax module which will be used to process the results of the trade.
Disposal Attachments
Allow you to write a trade note for the trade or attach a file to the trade disposal.
Assignments
The assignments tab allows you to set various options related to the posting of automatic account transactions and the closed trade status. For more information please refer to the Stator help file topic on closed trades.
STEP 5: Click on the "Commit" button to close the trade
Clicking on the "Commit" button will close the trade and close the disposal screen. This completes the trade disposal with the closed trade appearing in the Closed Trade tab of the System, Sub-Consolidation or Consolidated portfolio.
