Hi Guy,
I am about to stupid by the terminology of “Long” VS “Short” position.
Why people create something that complicate? OR if it really make it difference? If any one explain?
In the trading, I just see if the price going up I buy it, and wait until it reach a minimum profit I want, or put the SL and TP and Trailing stop. eg I bought EURUSD at 1.17000, and I close position @ price of 1.17500, if my lot size is 0.10 I get it 50$ profit
if I just see the price go down, I sell it, and wait until the minimum profit get. let say entry sell in 1.17000, and I wait until it down to 1.16500 and I close position. that mean I got 500 pips and equal to 50$ with 0.1 lot size.
For the two scenario above, it just the same, BUT why people call it long and short? OR if really there is the differences ? please explain guys,
Welcome, i wouldnt worry too much about it. Its all about learning different terminology on your joruney. You will pick it all up and hopefully some money along the way too lol
I am learning it too, and if we just don’t put the term to be a scary things, just trade,
if we think go up, buy, if we think go down sell, that is all. no matter what Buy or Sell take long time is sill trading right? like me I hold my position for sell EURUSD for 3 days before it reach the expect profit, (but keeping watching at the margin level, equity and balance with calculation how far we can afford with the balance we have).
Or even sometime i just buy and sell very quickly in a minutes, or less, or 5 minutes…etc
The things is another terminology people say, 1) swing trader, day trader, scalping trader, position trader …etc ALL just crape word, you can be all of them at the same time, if you keep your position for longer you might fall into position trader or swing …etc if you trade every minutes 5, or 10 you might fall into scalping. trader…
I am newbies too, but I try to leart more from your guys, and I can share my strategies of entering FOREX, or to be a FOREX trader what we should do and prepare…etc (If newbies want to know from my experience (about just 2 months-intensive) I will put another topic about “Preparation and Readiness in Forex”, eg you need to know about what are the factors affect the up and down of currencies pairs- fundamental factors, Technical factors…etc and The Bank, the Traders as we ourselves also huge influence of the up and down of prices.
If you think useful please comments I will put up that topic and let all our expertise and years of experiences brother and sisters out there help to give more input and strengthening this topic areas.