Hi All,
I have a question. Say I already have a open sell position, can I open another position to buy instead? Will it close out my current sell position?
That’s call hedging! in the U.S, we’re prohibit in long and short in same pair. However, if you have 2 different accounts, that’s no problem, you can long in account A and shorting in account B. But you can’t long and short same pair in acct A. I don’t think you have any problem if your acct is in Europe or Asia, e.t.c
However, it’s not make sense to do that unless you know what you’re doing!
regards,
NVGU
As NVGU mentioned, it is called hedging. It is great if you know how to hedge properly, but can bit you hard if you have no clue how to hedge. The US is the only country which bans hedging (as far as I know).