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Pro Tips: Did You Know that You Can Flatten Positions Without Using the MD_TRADER?

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Wesley Teo created · Nov 11, 2015 at 04:42 AM · Alvin edited · Dec 06, 2016 at 09:56 PM
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Most users rely on the MD_TRADER ladder to quickly flatten their open positions. However, besides the MD_TRADER, you can also use a Market Grid to do the same.

Within a Market Grid, the NetPos (Net Position) column shows your current net position for that contract. If you click on this cell, it will seed that same quantity at the current best bid or offer price in the Order Pane. For example, say I have a net short position of 4 lots in the ES Dec15 contract. The market is currently trading at 193025/193050. In my Market Grid, the NetPos cell shows a quantity of -4. If I click on this cell, the Order Pane will seed 4 lots at 193050 (which is the current best offer in which I can buy at to flatten my position). Conversely, if my position is net long, it will seed the quantity at the current best bid price.

If I am satisfied with this price, I can then click on the Buy or Sell button to inititate the order to flatten my position. If not, I can easily modify the order entry price using the up and down arrows in the Order Pane.

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Pro Tips: Did You Know that You Can Flatten Positions Without Using the MD_TRADER?

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