Close Position

The close position action gives you complete control over how and when a position is closed inside the autotrading platform.


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FAQs

Can my bot close a partial position?

No, a bot cannot close part of a position that was entered as a single trade. However, you can child your bot to leg into and out of trades. 

For example, if you open a call credit spread with six contracts, it would need to be closed with six contracts. But you could enter three positions two contracts at a time and scale out of each position.

Can I manually close a position without an automation?

Yes. Select a position in the Position Statement and select the "Close Position" button.

When a position is closed, where do I see the final closing price and trade details?

Position and order details are displayed in the "Closed Positions" section o the bot's Position Statment.

Do I have to use monitor automations to close positions, or can I use event automations too?

Event automations can be used to close positions.

Can a bot close a position that was opened in my brokerage account manually?

No. Bots can only open positions that were opened inside the autotrading platform.

What type of order does the bot send to close a position?

With SmartPricing, orders are customizable. You can submit either a limit order or an order using SmartPricing's settings.

What happens if I open a position with an automation and close it manually in my brokerage account?

If you manually exit a trade in your brokerage account, the bot will not know it was closed. You must use the "Manual Override" button inside the position details page to remove the position from the bot’s management.