How To Place A Trade With Thinkorswim - Managing And Closing Trades
  1. How To Place A Trade With Thinkorswim - Introduction
  2. How To Place A Trade With Thinkorswim - Opening And Editing Trades
  3. How To Place A Trade With Thinkorswim - Managing And Closing Trades
  4. How To Place A Trade With Thinkorswim - Trading Defaults

How To Place A Trade With Thinkorswim - Managing And Closing Trades

Once a trade is open, you can see how that trade is performing using the Monitor tab. This tab shows recent activity, open positions as well as capital in use and capital available to trade with.

Figure 8. Position Summary


To close a currently open position, right-click on the position to bring up a menu of available actions. From the menu, select "Create Closing Order." Selecting this option will automatically populate an entry order, which will close out, or offset, the open position.

Figure 9. Close Position Menu

This action will take you to the Trade tab, where you can adjust the closing order. For example, if you are long 500 shares, you may wish to sell only 300. Once you are satisfied with the order, click "Confirm and Send."

You will once again receive a pop-up confirmation window. From there, you can send the order to close out the position, delete the order, edit it, or send it to the queue to be sent out later.

SEE: Sorting Out The Trend And The Entry

How To Place A Trade With Thinkorswim - Trading Defaults

  1. How To Place A Trade With Thinkorswim - Introduction
  2. How To Place A Trade With Thinkorswim - Opening And Editing Trades
  3. How To Place A Trade With Thinkorswim - Managing And Closing Trades
  4. How To Place A Trade With Thinkorswim - Trading Defaults
RELATED TERMS
  1. Sell To Close

    In options trading, an order to sell an option that you own and ...
  2. Open Position

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  3. Buy To Close

    The closing of a short position in option transactions. Buying ...
  4. Close Position

    Executing a security transaction that is the exact opposite of ...
  5. Bracketed Sell Order

    A sell order on a short sale that is accompanied (or "bracketed") ...
  6. Buy To Open

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RELATED FAQS
  1. What do the phrases "sell to open", "buy to close", "buy to open", and "sell to close" ...

    The confusing terminology mentioned in the question deals with entering and exiting option orders. In review, there are two ... Read Answer >>
  2. I want to buy a stock at $30, sell when it reaches $35, don't want to hang on to ...

    Once you've identified a security that you want to purchase, you need to determine a price at which you want to sell if the ... Read Answer >>
  3. Why can't I enter two sell orders on the same stock?

    To answer this question, let's look at a few different situations. You bought a stock for $10 but want to be able to protect ... Read Answer >>
  4. What's the difference between a stop and a limit order?

    Different types of orders allow you to be more specific about how you'd like your broker to fulfill your trades. When you ... Read Answer >>
  5. How do I place an order to buy or sell shares?

    Read a brief overview of how to open a brokerage account, how to buy and sell stock, and the different kinds of trade orders ... Read Answer >>
  6. Do stop or limit orders protect you against gaps in a stock's price?

    Many individuals are hesitant to invest in the stock market because of the large gaps in prices talked about in the news. ... Read Answer >>

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