Long
Basics
What it means
Buying an asset so you profit if its price goes up. You own it and want to sell it later at a higher price.
Example
You buy 100 shares of AAPL at $150. If the price rises to $160, your long position is worth $16,000 and you have a $1,000 unrealized profit.
Mistake beginners make
Beginners go long without a sell plan, then watch a winning position turn into a loss because they never decided at what price to take profit or cut the loss.