Closing out a Position
An open position is one that is live and ongoing. As long as the position is open, its value
will fluctuate in accordance with the exchange rate in the market. Any profits and losses
will exist on paper only and will be reflected in your margin account.
To close out your position, you conduct an equal and opposite trade in the same currency
pair. For example, if you have bought (“gone long”) one lot of EURUSD (at the
prevailing offer price) you can close out that position by subsequently selling one
EURUSD lot (at the prevailing bid price).