If you enter a long position, it means you want to buy a financial instrument.
You’re bullish about the market.
You expect the price to go up in the future.
The exact opposite of a long position is a short position.
Let’s say EUR/USD is 1.1234 right now.
If you’re bullish on it, you can enter a long position at 1.1234.
This means that you’re buying EUR and selling USD.
And if you sell EUR/USD at 1.1334, you’ve earned 100 pips.
Let’s say Apple share price is $100 at this moment.
If you’re bullish on Apple’s share price…
You’ll enter a long position and buy its shares at $100 each.
And if you sell your Apple shares at $120 each, you’ll bag a gain of $20 per share.