Difference in Order and Position

[ninjaexpert]

What is difference in Order and Position?
When a limit order get placed through chart trader then it generates an Order.
Then what does position represent.
Please tell with an example.

[koganam]

What is difference in Order and Position?
When a limit order get placed through chart trader then it generates an Order.
Then what does position represent.
Please tell with an example.

Your position represents your total exposure to the market: an order is simply a request to perform a trade action.

So, for example:

1. You made an order to buy one contract. If the order is filled, then your position is long 1 contract.
2. You make another order to buy 2 contracts. Your position is now long 3 contracts after the order is filled.
3. You makle an order to sell 3 contracts. Your position is now flat after the order is filled.

[sledge]

When you place a limit order you have an order and no position.
When your order is filled, you have no more orders and now have a position.