Long position

A long position is a market stance that profits when the price of an asset rises. Taking a long means buying or holding the asset—or entering a contract that gains value as the price increases—with the position benefiting from upward moves and losing value on downward ones. In spot markets, being long simply means owning the asset.

In derivatives, a long can be opened with leverage, amplifying both outcomes. The term contrasts with a short position, which profits from falling prices. A common misconception is that “going long” always requires owning the underlying; through derivatives one can hold long exposure without ever taking delivery of the asset.