Commodities · Commodity process and review · lesson 2 of 9 · 6 min read · David Alexander
Recording the month you actually traded
instrument identity
The full specification of what a trade actually held: benchmark, wrapper, and contract month or spot reference, with days to expiry and any rolls crossed. In commodities the month is part of the instrument - module 1's promise - so a journal entry without it has recorded a benchmark, not a trade, and no statistic computed from it afterwards refers to anything.
This lesson is part of the advanced modules.
Modules 6 to 8 are included with a paid account. The definitional summary above is the whole of this page until then.