Here are my log statements. I log the opening and closing of position and also log open orders. Order remains open and I have a long position that is never closed.

2012-09-13myfunc:268INFOopen position
2012-09-14myfunc:223INFOSecurity(41281 [FPA])
2012-09-14myfunc:273INFOclose position
2012-09-17myfunc:223INFOSecurity(41281 [FPA])
2012-09-18myfunc:223INFOSecurity(41281 [FPA])
2012-09-19myfunc:223INFOSecurity(41281 [FPA])
2012-09-20myfunc:223INFOSecurity(41281 [FPA])
2012-09-21myfunc:223INFOSecurity(41281 [FPA])
2012-09-24myfunc:223INFOSecurity(41281 [FPA])
2012-09-25myfunc:223INFOSecurity(41281 [FPA])

I have a feeling that the order to buy FPA on 13th was actually filled on 25th and hence the issue. Why so long?

Hi Pavy,

The following code snippet correctly opens and closes positions with order_target

# Put any initialization logic here.  The context object will be passed to  
# the other methods in your algorithm.  
def initialize(context):  
    context.bar = 0

# Will be called on every trade event for the securities you specify.  
def handle_data(context, data):  
    # Implement your algorithm logic here.

    # data[sid(X)] holds the trade event data for that security.  
    # context.portfolio holds the current portfolio state.

    # Place orders with the order(SID, amount) method.

    # TODO: implement your own logic here.  
    if context.bar % 3 == 0:  
        order_target(sid(24), 50)  
    if context.bar % 4 == 0:  
        order_target(sid(24), 0)  
    log.info(context.portfolio.positions[sid(24)])  
    context.bar += 1