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
Smart Position
Manual Position
Use Previous Orders
Start New Position
When to Convert a Manual Position to Smart
When to Convert a Smart Position to Manual

Question	Smart Position	Manual/Date-based Position
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 (1). 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 (2). 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).

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

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

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

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.

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.




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.

Close Position

Smart Position

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


Step 2: If the position is a Smart Position, the following options will be shown:

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.


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.


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.

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.


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


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.

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

When to Convert a Manual Position to Smart

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.

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Updated on: 11/02/2025