Hello, can you buy and sell in the same general direction of the price, for example on the daily time frame?

Hello, can you buy and sell in the same general direction of the price, for example on the daily time frame?

You can’t hold long and short positions simultaneously in the same account if that’s what you’re asking.
You can, however, have take profits and stop losses trigger with limit orders to open an opposing position.

You can, depending on what country you’re in, it’s called hedging. But it’s not legal in the US.

2 Likes

If youre long 100 and then you short 50 units, your remaining position is 50 units long. They’re not held as 2 seperate positions, unless ofcourse, you’re talking about options

1 Like

Ok, lol. The OP’s question does not make much sense to me, but if that’s what you got out of it then kudos to you :wink:

Matty is correct and 10100 etc is incorrect - you can hold positions both ways if you so wish - it may be broker dependent but certainly is possible.

1 Like

Maybe you didn’t get my word right!
For example GBP/USD on the up-and-coming daily time frame can you buy?
For example, a EUR/USD pair on the daily time frame is down.
Can this strategy work?

1 Like

You can surely take some stop loss or profits to open a position. This might help.

Yes, you can take trades in opposing directions on different pairs. But in your example, USD is the counter currency in both pairs. So if you go long GBP/USD you will profit if the GBP rises and the USD falls. Holding a short on EUR/USD means that you should profit if the EUR falls and the USD rises. Because you are both long and short USD, the gains on one are going to tend to cancel out the gains on the other.

Alternatives would be to choose which pair to trade, or you could simply sell EUR/GBP.

Depends, it’s called hedging. Some brokers allow it, some don’t.

1 Like

Yes, you can hold two opposite positions, even if you are in US you can choose unregulated brokers that allow this strategy.

It depends on the trend of the currency pair and also on your strategy. There are certain factors on which your strategy is dependent on. You surely can open such positions but make sure to back test your strategy.

It’s not allowed to go short and long at the same time in the US. You will have to do it separately from different accounts.