Close Position

Brief

This section describes all possible ways of closing a position.

Details

To close a position:

1. Do one of the following:

• In the Open Positions window, click the close price of the position you want to close.
• On the toolbar, click Close.
• In the Open Positions window, right-click the position you want to close, and then click Close Position.
• On the Trading menu, point to Open Positions, and then click Close Position.
• Press SHIFT + C.
  Note: Before you click the command or press the keyboard shortcut, make sure that a position is selected in the Open Positions window.
2. The Close Position(s) dialog box appears.
   
   
   
   To view a five minute chart for the order symbol, click Chart.*
   On the chart, you will see a line on the level of the current market price for the trading operation of the order.
   You will also see the position line if the position price is currently visible on the chart; otherwise, you will see the position marker at the upper or lower border.
   If stop/limit orders are added to the position, you will also see lines on the levels of their prices.
3. In the Ticket box, click the ticket of the position you want to close if necessary.
4. In the Amount (K) box, select or type the amount.
   Note that the amount of the commission to be charged for closing the position is shown in Comm.
   Note: Depending on the version of your trading station, you can see the Currency/Point box instead of the Amount (K) box in this dialog box. If necessary, you can change the Amount mode in Options. For details, see Change Amount Mode.
5. In the Order Type box, click the order type. For a Market Range order, select or type the range in the appropriate box.
   On the chart, if the range is greater than zero, you will also see two lines indicating the current range. You can change the range by dragging either of these two lines to the necessary level. You can also set the range by holding CTRL and dragging the order line to the necessary level.
6. In the Time In Force box, click the necessary Time-In-Force option.
7. Click OK.

The position will be closed. Once the position is closed, it will disappear from the Open Positions window and move into the Closed Positions window.

* If Marketscope is not installed on your computer, there is no Chart button in the dialog box, and the chart is unavailable.