Articles on: Trading Essentials

Position Management and Controls


Introduction


Managing trading positions effectively is crucial for maximizing profits and minimizing risks. This guide provides a detailed overview of position management, covering both Smart and Manual positions on Spot and Futures markets. It explains how to create, modify, and close positions while utilizing essential tools such as Take Profit, Stop Loss, Auto Close, Start and Expiry Conditions.


Additionally, it outlines when and how to convert manual positions into Smart positions for automated management. Whether you're adjusting an existing trade or starting a new one, this resource ensures you have the necessary knowledge to execute and manage your trades and positions efficiently.


Contents


Choosing a Position
Position Control Options
Add Start Condition
Edit Start Condition
Add Expiration
Edit Expiration
Add Auto Close
Convert to Manual
Close Position


Types of Position

Altrady has two main position types: Smart and Date-based (also known as "manual") positions


All Positions

Common to both position types are the Analytics shown in the Position Info widget, including:

  • Start date (and end date for a closed position)
  • Position type
  • Summary statistics including the % of the investment recouped so far, number of trades, Total PnL
  • PnL values, including a breakdown
  • Break Even price and Average Entry price
  • Invested amounts in base and quote currency (initial, recouped, remaining)


Smart Positions

Smart Positions are automatically created for:

  • a smart order placed in the Trading widget. This is any order created with more than just an "entry", i.e. with TPs, SL and/or any automation such as a timer.
  • all Signal Bot positions
  • all Grid Bot sessions


In addition to the Analytics above, Smart Positions (including Signal Bot and Grid Bot and Grid Bot positions) manage the orders associated with the position, hence the moniker: Smart Positions.
Depending on the options selected in the Trading widget, Bot Settings, or bot signal, a smart position will:

  • start the position based on entry conditions
  • place one or more entry orders
  • once one or more entries have filled, Take Profit orders will be placed
  • Take Profit orders are also updated (price and size) as more entries fill
  • Track Stop Loss, Trailing Stop Loss, and Trailing Take profit orders, to enact these when the Stop price is reached
  • Close the position as required


Date-based Positions

Date-based positions are labelled "Spot" or "Futures" (see icons for these below).


In contrast to Smart Positions, Date-based positions do not manage orders, and have no linked orders. They only have analytics and these are based solely on:

  • the start date
  • trades (filled or part-filled orders) that have occurred since the start date
  • for a closed, date-based position, only trades up to the end date are included. If there is no End date, then all trades up to the current time are included.


Comparison between Smart and Date-based positions

Question

Smart Position (including Signal Bot positions)

Manual/Date-based Position (labelled "Spot" or "Futures"

How are positions on Spot markets created?

A Smart Position is started by placing a Smart Order. This is an order which makes use of any "Smart" function, such as Take Profit, Stop Loss, or Start Position or Expiration. The icon for Smart Positions is a lightning bolt (4).

Manually in the Position Info widget, using Create Position (see video 1 below). A manual position is also created automatically if: there has been a previously closed position on the market; and, a new regular order (non-smart) is filled or part-filled. A manual position with no exit orders filled or part-filled can be converted to a Smart Position (2). Manual positions on Spot Markets are labelled Spot with an icon of a notepad (3).

How are positions on Futures markets created?

Same as for a Spot market position (as above). When a Smart Position on a Futures market is deleted, a manual "Futures" position may be created (to show that there is still an open position), if the position on the exchange is not yet closed.

Same as for a Spot market position. Orders can be placed in the same way as for a manual position. These positions can also be converted to Smart if desired (see video 2 below). Manual positions on Futures markets are labelled Futures **and are denoted by the money-bag icon **(4).

Can Signal Bot positions be managed via the Position Controls?

Yes. Signal Bot positions are a type of Smart Position and can be managed in the same way as any other Smart Position. The Signal icon (5) denotes Signal Bot Positions. All position management options that apply to Smart Positions, also apply to Signal Bot positions.

Signal Bot positions can be converted to manual in the Position Info widget. However, the position will no longer be managed by the bot after doing so (and a position slot will be freed).


Position Icons

Each type of position is denoted by a different icon:
(3) Manual "Spot" position
(4) "Smart" Position
(5) Manual "Futures" position
(6) "Signal Bot" position

Choosing a Position


Step 1: **If there is more than 1 position open on a market, **click on an empty space of the position controls tab in the Trading widget, to select a position to edit, view or manage.


Position Control Options


  1. Increase


Step 1: **To increase a position's size, click the **Increase button.


Doing so, will place the position in Edit Mode in the Trading widget, and add a new draft entry order to the Smart Order. The new entry order will be the same size as the most recently filled entry order; and this amount will be added to the original position size.


The Executed Orders section can be clicked, to show details of the position's filled entry orders.


**Step 2: **The **+Add Target **button can be clicked if desired, to add more entry orders, and split the open amount between them. The Position Size is the total value of the executed entry orders and the open entry orders. Position percentages are relative to the Position Size.


Position % and Position Size fields may be rounded down, as more entry orders are added. Whether it is rounded down, depends on the market's order size precision and price precision. The total Position Size can be edited, to adjust the Position % split between orders.


Step 3: **To adjust the **total position size, manually adjust the Position Size or Buy/Receive fields accordingly. As this is changed, the **Position % **will change, to show the percentage for each entry order.


After clicking the Increase button, the Position Size and Buy/Receive fields will be equal to the executed amount + existing entry orders + the new entry orders.


Step 4: Once changes have been made and the order is ready to be placed, click Place Order.


To cancel the changes made and exit Edit Mode, click Cancel Edit


  1. Take Profit


Step 1: **To add a **Take Profit **order to an ongoing position, click the **TP button.


Doing so, will immediately put the position in Edit Mode in the Trading widget and add a draft Take Profit order to the Smart Position. Changes can be made to the Take Profit order as desired, before placement.


To learn more about the different options for modifying a Take Profit order, refer to the following article: Smart Orders: Take Profit and Exit Ladder


Step 2: **To save the changes made and place the order, scroll to the bottom of the Trading widget, then click **Place Order.


To cancel the changes made and exit Edit Mode, click Cancel Edit


  1. Stop Loss


Step 1: **To add a **Stop Loss order to a Smart Position, click the SL button.


Doing so, will immediately place the position in Edit Mode in the Trading widget and add a draft Stop Loss order to the Smart Position. Changes can be made to the Stop Loss order as desired, before placement.


To learn more about the different options available for modifying a Stop Loss order, kindly refer to the following article: Smart Orders: Stop Loss


**Step 2: **To save the changes made and place the order, scroll to the bottom of the Trading widget and click **Place Order. **



To cancel the changes made and exit Edit Mode, click on Cancel Edit.


  1. Further options


After the 3-dot menu is clicked, the following options will be shown:


  • Add Start Condition/Edit Start Condition
  • Add Expiration/Edit Expiration
  • Add Auto Close
  • Convert to Smart/Convert to Manual



If a position was not started with an entry order expiry and/or start condition, the options to add/edit one will be greyed out.


Add Start Condition


If an entry order has already filled on a position, it will not be possible to add a start condition, and the option will be greyed out.


If the position is a Manual position, Altrady will first ask to convert it to Smart.


For more information on converting a Manual position to Smart, see When to Convert a Manual Position to Smart


Step 1: **Click on **Add Start Condition, which will immediately put the Smart Position into **Edit Mode. **The relevant section in the Trading widget will be opened, and a draft setting for the start condition will be applied automatically.


To learn more about adding a start condition to a position, please refer to the following article: Smart Orders: Start position at ... (hidden orders)


Step 2: **After changes are made to the start condition settings as desired, scroll to the bottom of the Trading widget and click **Place Order.


To cancel the changes made and exit Edit Mode, click Cancel Edit.


Edit Start Condition


If the selected position was started with a start condition, the option to edit it will become available in the 3-dot menu.


Step 1: **Click on **Edit Start Condition, which will immediately put the Smart Position into Edit Mode in the Trading widget. The relevant section in the Trading widget will be opened, where you can edit your start condition as desired.


To learn more about adding a editing a start condition to a position, please refer to the following article: Smart Orders: Start position at ... (hidden orders)


Step 2: **To save the changes made and place the order, scroll to the bottom of the Trading widget and click **Place Order.


To cancel the changes made and exit Edit Mode, click Cancel Edit.


Add Expiration


If an entry order has already filled on a position, it will not be possible to add an expiration, and the option will be greyed out.


If the position is a Manual position, Altrady will first ask to convert it to Smart.


For more information on converting a Manual position to Smart, see When to Convert a Manual Position to Smart ****


Step 1: **Click on **Add Expiration, which will immediately put the Smart Position into **Edit Mode **in the Trading widget. The relevant section in the Trading widget will be opened, and a draft setting for the expiration will be applied automatically.


To learn more about setting an expiration to a position, please refer to the following article: Smart Orders: Time based Expiration / Entry Order Expiration


Step 2: **To save the changes made and place the order, scroll to the bottom of the Trading widget and click **Place Order.



To cancel the changes made and exit Edit Mode, click Cancel Edit.


Edit Expiration


If the selected position was started with an expiry condition, the option to edit it will become available in the 3-dot menu.


Step 1: Click on Edit Expiration, which will immediately put the Smart Position into Edit Mode in the Trading widget. The relevant section in the Trading widget will be opened, where the expiration can be edited as desired.


To learn more about editing an expiration, please refer to the following article: Smart Orders: Time based Expiration / Entry Order Expiration


Step 2: To save the changes made and place the order, scroll to the bottom of the Trading widget and click Place Order.


To cancel the changes made and exit Edit Mode, click Cancel Edit.


Add Auto Close


After clicking on the 3 dots, the option to add an auto close to a running position will be shown.


If the position is a Manual position, Altrady will first ask to convert it to Smart.


For more information on converting a Manual position to Smart, see When to Convert a Manual Position to Smart


Step 1: **Click on **Add Auto Close, which will immediately put the Smart Position into Edit Mode in the Trading widget. The relevant section in the Trading widget will be opened, where a draft setting for the auto close will be applied automatically


To learn more about adding an auto close to a position, please refer to the following article: Smart Orders: Time-based Auto-close


Step 2: To save the changes made and place the order, scroll to the bottom of the Trading widget and click Place Order.


To cancel the changes made and exit Edit Mode, click Cancel Edit.


Edit Auto Close


If the selected position already contains an auto-close condition, the option to edit it will become available in the 3-dot menu.


Step 1: Click on Edit Auto Close, which will immediately put the Smart Position into Edit Mode in the Trading widget. The relevant section in the Trading widget will be opened, where the auto close can be edited as desired.


To learn more about editing an auto close, please refer to the following article: Smart Orders: Time-based Auto-close


Step 2: To save the changes made and place the order, scroll to the bottom of the Trading widget and click Place Order.


To cancel the changes made and exit Edit Mode, click Cancel Edit.


Convert to Manual


After clicking on the 3 dots, the option to convert a running Smart Position to manual will be shown.


Step 1: Click on Convert to Manual, which will first display the window below. To confirm the conversion, click **Convert to Manual **again.


When a position is converted to manual, any pending take profits and stop loss on the position will be removed, while all other orders will remain open. If an exit order (e.g. Take Profit) has filled or partially filled, the conversion will not work. To cancel the conversion, click Cancel.


Step 2: The converted position can be viewed, from the My Positions or **Position Info **widget. **** ****


Manual "Spot" position when viewed in the My Positions widget

Manual "Spot" position vs "Smart" position in the Position Info widget


If the manual position is selected and the 3 dots are clicked again, the Convert to Manual option will be greyed out, if the position is already a manual position.


"Convert to Manual" is unavailable as the position is already converted

Close Position


This option is used to fully or partially close an open position. The options available for manual and Smart positions differ, and they are explained within their respective sections below.


Smart Position


**Step 1: **Click on the **Close **button, to close the selected position.



Step 2: The following options will be shown (explained below):


  1. **Position Size: **this is the remaining open amount on the position, at the time that the window is opened. The percentage for the closing size is based on this value.
  2. Estimated PnL: this is the estimated profit and loss, based on the total position size ( not the currently open amount). This value takes into account any previous exit orders that have filled.


The estimated PnL for a partial close order (i.e. closing size less than 100%) will still be the same as a full reduce order (i.e. closing size equal to 100%). However, any subsequent close orders will have a different estimated PnL, if the price for them is changed.


  1. PnL %: this is the same as estimated PnL, expressed as a percentage.
  2. Order Type: order type for the close order can be changed to a Market or Limit order. For a market order (shown above), the best available price in the order book at the time, will be used. **For a Limit order, **the order price can be specified ( shown below).


Order type and price selection in the Close window

  1. Closing Size: clicking this button will change the currency (i.e. base currency or quote currency) for the close order to be specified in. A percentage can also be selected for the closing size (see percentage for closing size amount below).
  2. Size Field: the exact amount of base or quote to close or reduce the position with, can be indicated here. If a percentage is entered, the size field will reflect the selected percentage.


For the trading pair BTC/USDT, BTC is is the base currency whereas USDT is the quote currency.


  1. Percentage for Closing Size Amount: a percentage can be manually entered into the field, to automatically populate the size field with a corresponding size, based on the percentage entered. Any of the percentage presets can also be clicked, to populate the size field accordingly.
  2. Close Position: click to place the close order.
  3. Cancel: click to cancel the close order.


Manual Position


Step 1: If the position is a Manual position, the Trading widget will change after clicking Close, and a draft close order will populate the Trading widget, with the amount needed to close the position. To place the order once ready, click Place Order.


A manual position can have incorrect/invalid trades. If that is the case, the close amount will be incorrect. To confirm whether the manual position has the correct trades, verify the entry and exit amounts are correct so far, from the Investments section in the Position Info widget.


Investments section in the Position Info widget

If the amounts are incorrect, the Manual position includes the wrong trades and Close will not work. The position's Start date will need to be changed accordingly.


How to close a Manual position, via the Close option

The order type and other order parameters can be changed, before placing the close order for a manual position. As long as the Spend and Buy/Receive fields remain untouched, the order will be placed for the amount required to close the position.


Use Previous Orders


If previous orders were placed on a market, a window will be shown in the Trading widget, asking if you would like to register a position based on open and closed orders.


Step 1: Click Use Previous Orders.


Step 2: Choose the orders to be included in the position on the next window. If the box next to the order is ticked, it is selected to be included.


Step 3: Once all orders have been selected as desired, click Create Position.


The newly created position can be seen in the My Positions widget and it will be automatically selected in the Position Controls. The created position will be a Smart Position by default.


Created position is displayed in the My Positions widget

Created position is automatically selected in the Position Controls

Start New Position


Step 1: To start a new position, click Start New Position.



Step 2: **The message will disappear and new orders can then be placed through the Trading widget, to start a new position. Placing a **Smart Order, will automatically create a new Smart Position.


Step 3: ** After the order is placed, the new position will be automatically selected in the **Position Controls **tab and it can also be seen in the **My Positions widget.


Newly created position is automatically selected in the Position Controls

All values will be displayed as 0, until an entry order on the position is filled.


Newly created position is shown in the My Positions widget

If a Smart Order is not placed for the new position — there will be no position automatically created. It will need to be manually created, as per (1) above.


When to Convert a Manual Position to Smart


If the selected position is a manual position, the following message will be shown when trying to add any Smart function to it.


Message displayed when selecting a control that requires the position to be Smart


Adding Take Profit/Stop Loss and More Entries


To add more entry orders (DCA), as well as Take Profit and Stop Loss, and have Altrady automatically update them as more entries are filled — a manual position can be converted to Smart.


For a guide on how this can be done, please refer to (1) above.


Adding a Time-Based Auto-Close Timer


To add an auto-close timer to a position, it will need to be converted to Smart. This is because the auto-close timer is considered a Smart function.


To learn more about using auto-close on your positions, please refer to the following article: Smart Orders: Time-based Auto-close


Using Any of the Available Options (Except Close)


In the Position Controls, all the available options (apart from Close), are only for Smart Positions.


To be able to use those controls, the position needs to first be converted to Smart. Once this is done, all orders will be linked to each other and Altrady will manage the relationships between them — alongside all that needs to occur throughout the position's duration. Conversely, a Manual position only offers analytics and no Smart control.


When to Convert a Smart Position to Manual


Marking a Position as Closed


Marking a position as closed can only be done with a manual position. This would only mark the position as such, and would not place an order to close it.


While this doesn't sell any coins that were acquired within the position (for a Long position) or re-buy any coins that were sold in the position (for a Short position) — one may decide to mark a manual position as closed, if they no longer wish to transact on it and would still like to have access to its analytics data.


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Managing Smart Positions with Webhook Links


If you have any doubts, please feel free to chat with our customer support service, linked at the bottom of this page.

Updated on: 10/06/2025

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