009: Trade Details (Part 2)
See 008: Trade Details (Part 1) for the start of this series
(click to zoom)
Credit/Debit: As discussed earlier, the broker see everything in 'units/shares of something' and with that unit/share, you either:
- Receive/add Funds (positive event): credit, sold a security, dividend, additional shares, transfer money in
- Lose/deduct Funds (negative event): debit, bought something, fees, transferred money out, tax
When you initially buy (as shown above) a stock, the money is removed (debit) from your account total as the security has the possibility of going to zero; Stocklog+ initially shows the total cost for that purchase.
When you initially sell (as shown above) an option, the money is immediately available for you to use in your broker account and Stocklog+ will show it was a positive event.
However, the trade is not closed! As you can see below, Stocklog+ is showing zero (0) Trades in Profit or Loss because you don't know where your trade is going to land until you close the position. Stocklog+ is giving you a running total showing at this very moment, you have a Open potential profit of $10 and a loss of $300 (279+3). This let's you quickly know how much money is at risk.
You can keep track of your progress by updating the Close Price whenever you like, it will change the board. For example, the stock increased from $3.00 to $3.25, notice below the Open Profit/Loss changes to reflect your good fortune! Notice the Credit/Debit column reflects the actual amount your up/down on the trade if you were to close out at that price.
Always leave the option close price zero (0) to expire worthless, unless you buy or sell it back, then enter the price to reflect your action.
Lets say the option expires worthless, you keep the total $10 and you decide to keep the stock for a few days. Notice the Settle Date and now the Profit/Loss panel:
Stocklog+ now shows you completed one trade at a profit (on the option) and you still have $25 possible profit open.
Open trades with Settle Date of 1111-11-11 will always take priority and float to the top of the list, therefor TradeID will normally not be in sequence
All three trades closed as winners. We will add one more trade: 2024/7/20 TSLA BUY @ $300 ==> 2024/7/28 TSLA SELL @293.37 for a loss. We will show the full screen:
The trade lost $6.63. The Account Value & ROI have been recalculated along with the Yearly Run Total (YRT). The YRT will keep a total for trades in the current year, but not for other items such as dividends and money transfers - they are included in the Account Value.
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