Orders and positions
Lifecycle & execution
The current order and position state selects the strategy path; the selected execution venue confirms real orders and fills.Strategy logic changes with lifecycle state. The strategy checks for an active order first, then a verified position, and only then considers a new entry.
The current state chooses the logic
Active order
Run cancel logic while a post-only entry or exit order is resting.
Open position
Run exit logic against a sellable position confirmed by terminal fills.
No exposure
Run entry logic when there is no order and no verified position.
Know what can change real state
| Mode | What it does | Real order risk |
|---|---|---|
| Inspect | Reads the strategy and its published evidence. | None |
| Live | Attempts orders through your selected trading account and venue. | Can place orders |
Use Activity to follow order results and Portfolio to review your holdings. Stopping future strategy activity does not necessarily close existing positions.