Definition – What does Open Position mean?
An open position is a currency trade that has not been settled. An open position will have a value that is estimated based on current market values, but this value will not be realized until the position is closed and settled. The value of an open position may fluctuate between losses and gains many times before the position is closed.
ForexTerms explains Open Position
Simply put, an open position is an active trade. This means that a trader either needs to monitor it or set up orders so that it will close when certain price targets are hit. Depending on a trader’s strategy and style, he or she may have many open positions at the same time.