The label on the button will change to reflect the active lot selection method.TradeStation Help
When positions consists of multiple lots (orders added at different times and/or prices), the FIFO-LIFO button allows you to specify the lot selection method for closing each lot when liquidating a position.
The label on the button will change to reflect the active lot selection method.
The following table outlines the lot selection methods that may be selected for this button:
| Type | Description |
|---|---|
| FIFO (First-In-First-Out) | Indicates that the first lot added to a position (earliest date) is the first to be closed when liquidating all or part of a position. If multiple lots traded on the same date, then the High Cost rule applies to lots on that date. |
| LIFO (Last-In-First-Out) | Indicates that the last lot created in a position (latest date) is the first to be closed when liquidating all or part of a position. If multiple lots traded on the same date, then the High Cost rule applies to lots on that date. |
| High Cost | Indicates that lots with the highest profit (based on the highest share price) are closed first when liquidating all or part of a position. |
| Low Cost | Indicates that lots with the lowest profit (based on the lowest share price) are closed first when liquidating all or part of a position. |