> ## Documentation Index
> Fetch the complete documentation index at: https://docs.ownit.xyz/llms.txt
> Use this file to discover all available pages before exploring further.

# Trading lifecycle

> Order → Position → Closed trade, and which widget shows each stage.

A trade is an order until it fills, a position until it closes, and a closed trade after that.

1. **Order.** An instruction. A limit order waits in **Orders** until price reaches it.
2. **Position.** Filled and open. Managed and closed from **Positions**, one at a time or with Close All, Close Longs, or Close Shorts.
3. **Closed trade.** Done. Recorded in **Trade History**.

| Stage | Shown in | P\&L |
| - | - | - |
| Order | Orders | None |
| Position | Positions | Unrealized; counts toward equity |
| Closed trade | Trade History | Realized; counts toward balance |

### Orders vs. trade history

Not every order becomes a position. An order that never fills, or is canceled or rejected, is only in **Order History**. **Trade History** is positions that opened and closed. Every submitted order is in Order History, filled or not.


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