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.

Closing a Position

Activate the TradeManager window and select the Positions tab.

Right-click the desired position to close and select Close this [symbol] position. Or, click the checkbox on the left to select one or more rows, click the Action button, and choose the desired action from the drop-down list.
Select Send Now [order details], Customize at TradeStation Order Bar, or Customize Round Lot at TradeStation Order Bar.

The Send Now [order details] option will prompt you to send the order as it appears. The Confirm dialog does not display when using the Send Now [order details] option.

The Customize or Customize Round Lot 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.

Gembiki or Genwatashi position conversions

You can use Gembiki to close your long margin positions, or Genwatashi to close your short margin positions.

Gembiki is only available for long margin positions. You can use cash from your account to convert a long margin position to a cash position.
Genwatashi is only available for short margin positions. You can use fully paid cash positions from your account to convert a short margin position to a cash position.

Activate the TradeManager window and select the Positions tab.

Gembiki: Right-click the desired position and choose Gembiki from the shortcut menu. Or, click the checkbox on the left of the row to select one or more rows. At the top of the TradeManager screen, click the Action button. Choose Send Gambiki Now or Customize Gembiki at TradeStationOrder Bar. When you choose Customize at the TradeStation Order Bar, your order details will automatically be copied to the Order Bar. You can then adjust the order details from the Order Bar as you wish.
Genwatashi: Right-click the desired position and choose Genwatashi from the shortcut menu. Or, click the checkbox on the left of the row to select one or more rows. At the top of the TradeManager screen, click the Action button. Choose Send Genwatashi Now or Customize Genwatashi at TradeStationOrder Bar. When you choose Customize at the TradeStation Order Bar, your order details will automatically be copied to the Order Bar. You can then adjust the order details from the Order Bar as you wish.

Gembiki and Genwatashi are not available when you have selected a combination of cash and margin positions, or long and short positions.

Closing All Positions

Activate the TradeManager window and select the Positions tab.

Right-click the desired position and select Close All Open Positions. Or, click the checkbox on the left to select one or more rows, click the Action button, and choose the desired action from the drop-down list.
Select Send Now 'Exit All Open [Long/Short] Positions in account ##'.

This option will close all positions.

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.

Right-click the desired position and select Reverse this [symbol] position.
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.