What is the difference between long and short?

Going long means you are taking exposure to a price increase. Going short means you are taking exposure to a price decrease. With perpetuals, you can take either side without owning the underlying asset.

Both directions carry risk. A long can lose when price falls, while a short can lose when price rises. Leverage makes either loss happen faster relative to the margin supporting the position.

Before entering, write down the direction, the price level that proves your idea wrong, and the maximum amount you are willing to lose. A confident opinion is not a risk plan.