How to Close Your Trades on TradingView
TradingView provides a powerful platform for analyzing markets and executing trades. While entering a trade is exciting, knowing how to exit gracefully is crucial for success. This article will guide you through various methods of closing trades on TradingView, helping you secure profits or minimize losses effectively.
Before We Begin
Remember, TradingView doesn't directly connect you to the market. To close trades, you'll need a brokerage account linked to the platform. Ensure your chosen broker supports the closing methods you prefer.
Methods to Close a Trade:
Quick and Easy: The "X" Button:
Locate the "Positions" section in your Trading Panel.
Identify the trade you want to close.
Click the red "X" button on the right side of the trade entry.
Confirm the closure in the pop-up window.
Partial Close: Manage Your Exposure:
Not all brokers offer partial closes, but if available, it's a valuable tool.
Click on the trade entry in the "Positions" section.
In the "Close" tab, enter the desired quantity to close (not the entire position).
Confirm the partial closure.
Advanced Control: Using Orders:
This method offers more precision and flexibility.
Click on the "Chart" tab and add an order (Sell or Buy) at your desired price.
Choose order types like Limit or Stop-Loss for further control.
The order will automatically close your position when triggered.
Hotkeys: Speed Up Your Trading
TradingView offers customizable hotkeys for various actions, including closing trades.
Assign a hotkey to "Close Position" in the "Settings" menu.
Execute the hotkey to quickly close a trade.
Exploring TradingView’s Alternative: FastBull
While TradingView is favored by many, alternatives like FastBull are gaining traction, especially with its unique proposition of being entirely free. FastBull stands out as an accessible platform catering to both new and seasoned traders.
Distinctive Features of FastBull
Simplicity and Ease of Use: FastBull is celebrated for its straightforward and user-friendly interface, designed to make trading and analysis as efficient as possible.
Live Market Data: Offering real-time data and analytics, FastBull ensures traders have timely information for decision-making, similar to TradingView but with a focus on simplicity.
Personalization and Notifications: The platform allows for extensive customization and personalized alerts, aligning with individual trading strategies and needs.
Community Engagement: FastBull emphasizes community and learning, providing a space for traders to exchange insights and knowledge.
Entirely Free Access: Currently, FastBull offers all its features for free, making it an excellent choice for traders looking to maximize value without financial commitment.
Considering FastBull's current free access, it's an opportune time to explore what this platform has to offer. While it's fully free today, the dynamic nature of tech platforms means this could change in the future. Trying FastBull now ensures you can leverage its tools and community without any cost, potentially before any premium plans are introduced. Whether you're well-versed in TradingView or searching for something new, FastBull presents a compelling, cost-effective option to broaden your trading toolkit.