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How to close positions/take profit on Sierra?


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How to close positions/take profit on Sierra?

  #1 (permalink)
fxSOL
Belgrade Serbia
 
Posts: 60 since Mar 2020
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A very embarrassing question but I playing around with futures and have open a position - long(buy) of 1 contract.
How do I manually close the position?

Do I need to "sell" it to be able to close it?

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  #2 (permalink)
 tr8er 
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I guess this is your first futures-trade, but your question has nothing to do with sierra-chart, this is how futures-trading works . If you buy 1 contract, you have to sell 1 contract to close your position. If you sell 1 contract, you have to buy 1 contract to close your position.

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  #3 (permalink)
fxSOL
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Its very odd, especially if you have more positions and you only want to close one of them.
Have tried other software before like Rithmic and there I had the option to "Close" position by selecting it and select "CLOSE" and leave others alone.
How is this done in Sierra then?

Now for example I have 2 sell and want to only close one of them?

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  #4 (permalink)
 tr8er 
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fxSOL View Post
Its very odd, especially if you have more positions and you only want to close one of them.
Have tried other software before like Rithmic and there I had the option to "Close" position by selecting it and select "CLOSE" and leave others alone.
How is this done in Sierra then?

Now for example I have 2 sell and want to only close one of them?

Of course the same way as before, you have to buy 1, lol.

The system will close your contract you sold first, if you sold it at different time (this is called FIFO, first in first out)

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 Daytrader999 
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fxSOL View Post
Its very odd, especially if you have more positions and you only want to close one of them.
Have tried other software before like Rithmic and there I had the option to "Close" position by selecting it and select "CLOSE" and leave others alone.
How is this done in Sierra then?

Now for example I have 2 sell and want to only close one of them?


Perhaps it would be a good idea to take a look at the appropriate Sierra chart documentation:

https://www.sierrachart.com/index.php?page=doc/ChartTrading.html

https://www.sierrachart.com/index.php?page=doc/ChartTrading.html

"If you don't design your own life plan, chances are you'll fall into someone else's plan. And guess what they have planned for you? Not much." - Jim Rohn
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Last Updated on July 31, 2020


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