To close an open trade, do the following:
1. In the
Open Trades tab, do one of the following actions for the trade position you want to close:
- Right-click the listed trade and select Close Trade from the displayed menu.
- In the Current Price to Close column of the listed trade, click the displayed price link.
The Close Trade Position dialog displays.
2. Click
OK.
- This action closes the trade for its full amount.
- A message displays informing you that the trade was successfully closed and includes the [trade_id] of the closed position.
3. Click the Closed Trades tab and verify this closed trade's details.
To partially close an open trade, do the following:
1. In the
Open Trades tab, do one of the following actions for the trade position you want to close:
- Right-click the listed trade and select Close Trade from the displayed menu.
- In the Current Price to Close column of the listed trade, click the displayed price link.
The Close Trade Position dialog displays.
2. In the Amount field, enter a value in the field or select an amount from the provided dropdown menu.
3. Click OK.
This action closes the trade for the specified amount and opens a trade, with a new trade ID, for the remaining amount.
Two following two messages display:
One message informs you that the trade was successfully closed and includes the [trade_id] of the closed position.
The second message informs you that a trade was opened, as a result of the partially closed trade, and includes the [trade_id] of the opened position.
4. Click the Closed Trades tab and verify the closed trade's details.
5. Click the Open Trades tab and verify the resulting, open trade position's details.
Notes About Close Trade:
You can close an open trade either for its full amount or for a portion of its full amount. This second close action is referred to as a partial close.
When closing a trade, what you are doing is either selling or buying, at the best available, current price, the amount of instrument specified in the open trade position.
- Closing an open sell position in practice sells the instrument’s base currency by buying the instrument’s quote currency.
For example, when closing the open sell position of 3,500 EURUSD, you sell EUR (the base currency) by buying USD (the quote currency). - Closing an open buy position in practice buys the instrument’s base currency by selling the instrument’s quote currency.
For example, when closing the open buy position of 10,000 GBPJPY, you buy GBP (the base currency) by selling JPY (the quote currency).
How to Trade with AVA AlphaTrader?