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Add Edit Delete Forex Transactions
The Portfolio Accounts can be used to track Forex investments in multiple currencies. In this section we will discuss how to add, edit and delete Forex transactions in your Portfolio Account.
Use the drop down navigation menus to go directly to the Forex section of the account that you would like to add, edit or delete transactions in, as illustrated in the following screen shot:
or click on the Portfolio Account name:
Step 2: Edit Forex Transactions
To add Forex transactions, we go to the "Forex Transactions" section of the page, as shown and click on the 'add/edit' button:
To view transactions between a selected date range, edit the 'start' and 'end dates'. To do so click on the date boxes and use the drop down calender to select the dates you wish to use; alternatively manually enter the new start and end dates by typing the dates into the date boxes:
If you have entered a transaction but it is not displayed, please check that the 'start' and 'end dates' are set to the appropriate time frame associated with the missing transaction.
Step 3: Add Forex Transactions
You can now enter the Forex transaction details in the fields as illustrated in the following screen shot example. When dealing with forex currencies, the base currency is the first three letters in the forex symbol and the counter currency is the last three letters e.g. for GBPUSD the base currency is GBP and the counter currency is USD.
Date: Enter the date the Forex was purchased / sold. This must be in the format XX Mth XXXX eg, 14 Apr 2002
Time: Enter the time that the transaction occurred at. This must be in the format hh:mm:ss eg, 17:22:55. You can leave out the semi colons for faster entry e.g. 17 22 55
Symbol: Enter the Forex symbol using the format recognised by timetotrade if automated price updates and historical valuations are required. If you are unsure of the symbol, start typing the company name into the 'symbol' text field. A drop down menu will appear displaying possible matches and their associated symbol.
Type: Input the forex transaction type, which will vary depending on the Portfolio settings. If the Portfolio is set up as a non-hedged portfolio i.e. where you can only be long or short at any point in time on a given symbol then the choices are:
- Buy: Buy the base currency and sell the counter currency
- Sell: Sell the base currency and buy the counter currency
If the portfolio is set up as a hedged portfolio then the choices are:
- Buy To Open: Buy to open a long position i.e. buy the base currency and sell the counter currency
- Sell To Close: Sell to close a long position i.e. sell the base currency and buy the counter currency
- Sell To Open: Sell to open a short position i.e. sell the base currency and buy the counter currency
- Buy To Close: Buy to close a short position i.e. buy the base currency and sell the counter currency
Margin: Enter the margin value for opening positions whereby you can enter the cash allocated or a percentage value e.g. 1%. If a percentage is used the margin will be calculated based on the base currency value.
Quantity: Input the Forex lot transaction size.
Rate: Input the forex transaction price.
Commission: Input the amounts of any commissions or fees payable on the transaction. When entering a transaction, you do not have to enter the commission, you can just enter the total cost, however, it is recommended that you complete all fields as this information is also used for generating reports. Please note that the commission associated with a Forex transactions is based on the Portfolio currency.
Rollover: Enter the rollover and swap charges if the position is held over night; alternatively enter these via the Income/Expenditure if you are not sure what transaction the rollover and swap fees are associated with. Please note that the rollover associated with a Forex transactions is based on the Portfolio currency.
Profit/Loss: Enter the Profit / Loss value. If the Portfolio is set up to settle in the Account Currency, then enter the Profit or Loss value in the Portfolio currency. If the Portfolio is set up to settle in the Counter Currency, then enter the Profit or Loss value in the Counter Currency.
Once you have finished adding your Forex transactions to the account, click on the "done" button as illustrated above.
Please note, if the transactions are not visible check the date range; timetotrade will only display those transactions which occurred between the specified start and end dates.
Step 4: Edit and Delete Forex Transactions
To edit a transactions click on the 'edit' button beside the transaction and update the various fields:
Click on the 'save' button to save changes. To delete a Forex transaction, tick the check box associated with the transaction, or tick the 'delete all' check box position beside the 'delete selected' button. When the transactions have been selected, click on the 'delete selected' button:
Once complete, to return to normal view, click on the 'done' button.
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