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 Trade 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.
- Select Send Now [order details],
The Send Now [order details] option will prompt you to send the order as it appears.
The Customize at the TradeStation Trade Bar option will populate the Trade Bar with the details for this order. You can then adjust the order details from the Trade Bar as you wish.
Closing All Positions
Activate the TradeManager window and select the Positions tab.
- Right-click the desired position and select Close All Open Positions.
- 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.