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!
- 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
Depends on the platform. I am not familiar with Binance since they cut off burgers from trading with leverage. I use gains. trade and yes you can straddle without issue. Open a long and a short at the same time no problem. The risk is higher as you increase leverage. Duration of a trade is until it hits a stop loss, take profit, or is liquidated. They can be open a long time but there are fees that eat into your trade over time.
Give gTrade a try its a decentralized platform so no sign up, no kyc, just you and the smart contracts plus they have a ticketed help desk if you need any assistance on the discord.