If we are buying stock/futures to open we say we are “long ABC.” If we are buying to close we say “bought ABC for gain” (or loss). If we are selling to open we use “short XYZ.” If we are selling to close we use “sold for gain” (loss). It won’t take long to understand. This way we know if someone is selling a long position vs selling short to initiate a position. We are always more interested in the entries than the exits. When we refer to lod that means low of day and hod is high of day. A strong bid means the market wants to go higher. If you are trading options, please state the month and strike.
What does the Chat Room jargon stand for?
April 6, 20221 min read