When Do I "Long Only"?

The "Long Only" market order direction is specifically designed to limit entries in a Swing Trading Strategy to only "long" positions.

This means that you are consistently buying from the market and selling your holding positions without ever short selling your trading asset.

You would typically select this option when the market is in a clear bullish state, where purchasing assets holds a higher chance of profit compared to short selling.

Determining if this approach is right for you is straightforward. After activating the "Smart Trend" feature, you can assess the market's general condition. If you observe more green backgrounds than red ones, and if the red areas are typically shallow, it suggests that the market frequently maintains a bullish state.

For additional confirmation, you can utilize TradeDots' backtesting tool. This helps calculate the profit and loss associated with different market order directions, providing valuable insights for your trading decisions.

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Note: All scripts and indicators offered by TradeDots are intended for educational and informational use. Past performance is no guarantee of future results.