TWS allows you to immediately close all or a portion of all long and short positions. You can also elect to close all or a portion of a selected position.
To Close All, start in the Classic TWS layout. From the Trade menu, select Close All then choose a percentage to open the Close Position box. Define filters as needed and click OK.
Please note that by clicking OK you are agreeing to allow the system to automatically submit orders to close the positions you defined by your filters.
Orders created by this feature are handled in the same manner as all orders placed on IB’s systems. By using the Close All Positions feature, you (the client) acknowledge that you are aware of the following limitations:
- It will create a closing order for each position (or selected position) and submit it once.
- This is a best-efforts system; there is no guarantee that orders will be transmitted or filled.
- The system will not create/submit LIMIT orders if there is no market data.
- Orders that cause the account to violate its margin requirements will be rejected, and rejected orders will not be re-sent.
- There is no guarantee that orders will be submitted in any specific sequence. For example, hedged positions are not recognized and one portion of the hedge will not be sent before the other.
- The feature will not generate combination trades.
- If only some positions in the account can be closed, the risk concentration of the account may increase, making the customer subject to an exposure fee.
To create orders to close selected positions, right-click the existing position in your portfolio, and select Trade. Next, select the percentage of the existing position you want to close - 100% or a smaller portion. To define a percentage that is not presented in the drop-down list, select Custom and enter the percentage of the position to close. This feature creates a closing order in the Order Entry panel that you must submit manually.
To close a percentage of multiple positions, hold the shift key to select multiple existing positions in your portfolio before using the right-click menu. This feature creates a series of closing orders in the Orders tab of the Activity panel. You must submit each of these orders manually.
Additional Information
- Closing all or a percentage of one or multiple positions in the TWS Users' Guide.