This is a bit tricky to understand at first so let me explain:. With different currencies, a couple of currency involves the trade like one party is going a long way while the other is moving in a short and simple manner. This is because in forex, as well as all other markets and businesses, traders make their profits when they buy low and sell high. Constructing a Trade Setup Part 2. Our interactive online courses help you develop the skills of trading from the ground up.
When you are trading foreign currency and go "long" in a currency, you are simply placing a buy order on a currency pair. In foreign currency (forex) trading, all currency pairs have a base currency and a quote currency.
BREAKING DOWN 'Long (or Long Position)'
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In summary, going long on stocks, bonds, futures and forwards, indicates that the holder of the long position is bullish. However, a long position on options expresses either a bullish or bearish sentiment depending on whether the long contract is a put or a call. Going Long Traders are said to be “going Long” when they buy a currency pair. When you “buy” a currency pair, you are buying the first currency (the Base currency) and Selling the second currency (the Counter currency). Definition of Going Long: It is an expression used for describing the kind of trading spot taken by a purchaser with the buying of a stock, currency or commodity for the speculation or investment. The retailer in the deal is considered as having gone small.