Only when viewed by a quoted pair as a symbol...
If you view your exposure, you're net short and long in value will be equal (in a common currency value) when you open positions and will shift as the quoted rate changes. How is shifts becomes your profit or loss...
Example:
Long EUR/USD == long EUR and short USD, where both have the same value in a common currency when the position is opened.
You could have a trade list covering many currency pairs... 10+ open positions... but each will have one long, and one short underlying exposure.
