Open Positions aggregate crucial information about your current portfolio and also allow you to close a position in a single click.
When you click an icon with the cross sign, we create a market order with the position quantity to flat it.
Let’s assume you have an open position on the Microsoft shares of -250 quantity (meaning Short 250). If you click Close, the order to Buy 250 MSFT.NASDAQ @ Ask will be created to close your position.
Here’s another example.
If you want to close an open position on GOOG.NASDAQ (Long 300), the order will be Sell 300 GOOG.NASDAQ @ Bid. If the chosen instrument is on a schedule break and is not trading at the moment, your order will remain pending and will be executed when trading resumes.
Hint: If the button is inactive, it may be due to one of these common reasons:
- No market orders are available for this instrument
- You already have an order to close the position
- The button is on delay and will be available in a few seconds.