My Net Position
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If you are an experienced trader, you may skip this topic.
Beginner traders often find it difficult to comprehend the idea of trading positions. Sometimes the terms "order" and "position" are used interchangeably, although they mean different things. We will try to explain it in simple terms.
Let's take a trader who makes these 3 trades:
BUY 1000 EUR/USD at 1.3545
BUY 5000 EUR/USD at 1.3540
SELL 2000 EUR/USD at 1.3560
4000 EUR/USD <- the net position
What is the net amount of the currency he has bought in the end?
If we add together the amount of currency bought and subtract from it the amount of currency sold, we will get the NET amount of those 3 trades, and this will form our trader's net position in EUR/USD. In our case, the trader has a total of 4000 EUR/USD. You can also say that he is holding a long position. Each net position has an average price, which is explained in details HERE.
The Positions window displays all your net positions. It can be opened by clicking the Positions icon in the Traiding toolbar:
The Positions Icon
The following window will appear: