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

# Managing & closing positions

> Track your open positions, close them, cancel orders, and redeem winnings.

Once you're holding positions, the **Portfolio** panel (<kbd>/</kbd> → `PRT`) is where you manage them. It shows every position with live prices and profit and loss, plus your open, resting, and settled orders.

## Closing a position

<Steps>
  <Step title="Find the position">
    Open **Portfolio** and locate the position in the **Positions** list. Its live value and unrealized profit and loss update as the market moves.
  </Step>

  <Step title="Choose Sell">
    Select the position and choose **Sell**. The order slip opens pre-filled to close it — the quantity is already set.
  </Step>

  <Step title="Confirm">
    Review and confirm. You can close the whole position or edit the amount to close part of it.
  </Step>
</Steps>

<Tip>
  You can also open the market and use the [order slip](/trading/placing-orders) directly — selling the outcome you hold reduces your position.
</Tip>

## Canceling an open order

In the **Portfolio** panel, open the **Orders** tab (or **Resting** for limit orders waiting to fill), find the order, and cancel it. It disappears from your open orders once canceled.

## Redeeming winnings

When a market resolves in your favor, your winnings become available to redeem. Open **Balances** (<kbd>/</kbd> → `BAL`), then use the **⋯** menu to **redeem** — your winnings convert to spendable funds.

## Reading your profit and loss

<CardGroup cols={2}>
  <Card title="Unrealized P&L" icon="chart-line">
    How much a position is up or down right now, based on the live market price.
  </Card>

  <Card title="Realized P&L" icon="circle-check">
    What you've actually locked in from closed positions and settled markets.
  </Card>
</CardGroup>

The Portfolio panel also charts your **account value over time** so you can see how you're doing across all your trades.

## What's next

<Columns cols={2}>
  <Card title="Balances & portfolio" icon="chart-pie" href="/accounts/balances-portfolio">
    A full tour of the money views.
  </Card>

  <Card title="Find your next trade" icon="magnifying-glass-chart" href="/panels/overview">
    Explore the scanners and market panels.
  </Card>
</Columns>