TradeStation Help

Closing or Reversing a Position in TradeManager

You can quickly close out a position in TradeManager. You can send the order immediately or you can customize it at the Order Bar. If you choose to send the order immediately, without it being customized, it will be sent as a market order through the Intelligent order route.

Closing a Position

 Activate the TradeManager window and select the Positions tab.

  1. Right-click the desired position to close and select Close this [symbol] position.
  2. Select Send Now [order details], or Customize at TradeStation Order Bar.

The Send Now [order details] option will prompt you to send the order as it appears. If you choose this option to close out your position, it will be sent as a market order using the Intelligent order route. The Confirm dialog does not display when using the Send Now [order details] option.

The Customize at the TradeStation Order Bar option will populate the Order Bar with the details for this order. You can then adjust the order details from the Order Bar as you wish.

Closing All Positions

 Activate the TradeManager window and select the Positions tab.

  1. Right-click the desired position and select Close All Open Positions.
  2. Select Send Now 'Exit All Open [Long/Short] Positions in account ##' or Send Now Exit All Open [long/short positions] in ALL accounts.

    This option will close all positions in a specific account.

If you choose this option to close out your position, it will be sent as a market order using the Intelligent order route. The Confirm dialog is not displayed when using the Send Now Exit All [order details] option.

Reversing a Position

 Activate the TradeManager window and select the Positions tab.

  1. Right-click the desired position and select Reverse this [symbol] position.
  2. Select the desired with Exit choice from the secondary shortcut menu to determine the exit criteria to use for closing out your position before it is reversed.

If you're long 5 contracts your position will be reversed to be short 5 contracts in one action.  It will work the same way when going from short to long, for example a position that is short 500 shares will be reversed to be long 500 shares. Note that for equities symbols that are not 'shortable' the long position will be canceled resulting in a flat position.