What does it mean to go ‘long’ or ‘short’?
Long position: You are buying an instrument, expecting the price to rise. Short position: You are selling an instrument, expecting the price to fall.
For example:
- Buying 1 lot of AUD/USD = Long 100,000 AUD against USD
- Selling 1 lot of USD/GBP = Short 100,000 USD against GBP