A long position refers to the position of an investor who has bought an asset such as a stock, commodity or currency with the expectation that its value will increase over time. In the context of trading, a long position means the trader has bought an asset with the expectation that it will increase in value, and they will sell it at a profit. A long position can be held for any period of time, from a few seconds to many years, depending on the investment strategy and market conditions. The opposite of a long position is a short position, where the trader sells an asset with the expectation that its value will decrease.