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
When to Convert a Manual Position to Smart
When to Convert a Smart Position to Manual
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). If a manual order is placed while a Smart or Signal Bot position is open, on a market with a previously closed position, a "Spot" position will NOT be automatically created. |
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:
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.
**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.
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.
Step 4: Once changes have been made and the order is ready to be placed, click Place Order.
- Take Profit
Step 1: **To add a **Take Profit **order to an ongoing position, click the **TP button.
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.
- Stop Loss
Step 1: **To add a **Stop Loss order to a Smart Position, click the SL button.
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. **
- 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
Add Start Condition
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.
Edit Start Condition
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.
Add Expiration
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.
Edit Expiration
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.
Add Auto Close
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.
Edit Auto Close
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.
Convert to Manual
Step 1: Click on Convert to Manual, which will first display the window below. To confirm the conversion, click **Convert to Manual **again.
Step 2: The converted position can be viewed, from the My Positions or Position Info **widget. ** ****
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):
- **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.
- 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.
- PnL %: this is the same as estimated PnL, expressed as a percentage.
- 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).
- 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).
- 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.
- 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.
- Close Position: click to place the close order.
- 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.
Use Previous 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.
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.
When to Convert a Manual Position to 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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Related Articles
Managing Smart Positions with Webhook Links
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Updated on: 03/07/2025
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