**What is closing a position?** See here

**What is settling a position?** See here

**Closing multiple positions**

Margin trading is “First in First Out” (FIFO). This means that if you have multiple positions open, the position created first will be closed first. Suppose you have 2 long positions open at 1 XBT volume each. If you then sell 1 XBT (at any leverage), the position that will be closed will be the one that was created first.

If you use the closing order tool (shown below) at the bottom of your open positions list, the different volume settings will have the following results:

**100% volume:**creates a limit order that, if filled, will close all your open positions. It doesn't matter what level of leverage you select for this closing order.**50% volume:**creates a limit order that, if filled, will close 50% of your open positions by volume, starting with your oldest positions. It doesn't matter what level of leverage you select for this closing order.**25% volume:**creates a limit order that, if filled, will close 25% of your open positions by volume, starting with your oldest positions. It doesn't matter what level of leverage you select for this closing order.**200% volume:**creates a limit order that, if filled, will close all your open positions and create an opposing position of the same volume (i.e. close a 1 XBT long position and open a 1 XBT short position). The leverage level does matter for this order, since the newly opened position will leveraged at the level selected in the order.

Note that you can enter a different volume amount or select a different order type in the order form if you want to do something different from the four options above.

**Settling multiple positions**

The FIFO rule (“first in first out” also applies to settling positions). This means that if you have multiple positions open, the position created first will be settled first. Suppose you have 2 long positions open at 1 XBT volume each. If you then do a Buy Settle Position order for 1 XBT, the position that will be settled will be the one that was created first.

If you use the settle order tool (shown below) at the bottom of your open positions list, the different volume settings will have the following results:

**100% volume**: creates a settle order that will settle all your open positions. It doesn't matter what level of leverage you select for this settle order.**50% volume**: creates a settle order that will settle 50% of your open positions by volume, starting with your oldest positions. It doesn't matter what level of leverage you select for this closing order.**25% volume**: creates a settle order that will settle 25% of your open positions by volume, starting with your oldest positions. It doesn't matter what level of leverage you select for this closing order.**200% volume**: you can’t settle more than 100% of your open positions, so this will create and order that will settle all your open positions (the remaining volume of the order will be canceled). It doesn't matter what level of leverage you select for this settle order.

Note that you can enter a different volume amount for the order if you wish.