Can you both long and short on the same pair in futures trading?
Can you both long and short on the same pair in futures trading?
Hey folks, I’m looking to start futures trading but have some questions. I have watched some videos and the last time I tried trading on Binance, I lost my money but now realizing it’s due to lack of stop loss. Plus, I used cross account instead of Isolated.
Anyways, here are my some questions I need help with:
- Can you place a long on pair and do another short on the same pair?
- Is the duration of trading set by you or open till you stop it?
- Is the risk higher as you increase the leverage multiplier?
- Finance still the best option out there?
Thanks!
Geek LK Answered question October 1, 2024
- Yes you have to activate hedge mode in preferences (I think this works on binance)
- Usually you can leave the trade open as long as you want, unless you get liquidated
- if you don’t know the answer to this, the fact that you didn’t set stop losses is probably not the only reason you lost money
Geek LK Answered question October 1, 2024