A ‘long’ position is much the same as entering into a BUY transaction, conversely a ‘short’ position is much the same as entering into a SELL transaction. By way of example if you BUY 1 standard lot or 100,000 units of EUR against USD you are entering into a ‘long’ position. If on the other hand you sell 1 standard lot of 100,000 units of AUD against USD you are entering into a ‘short’ position.
