I'm new to futures trading but not in crypto.
I like to hold coins for long term but right now im interested in futures trading and there is a thing i don't understand and cannot find answer on internet (lol).
Lets say i bought long BTC/USD at $47,000 and if bitcoin goes down like at $42,000 will my open order will be canceled automatically without my permission and lose my money.
Only if you have longed (predicted that the price will rise. Depending on the leverage you used, Yes, your position would be liquidated at some point). If you shorted (predicted the price drop), You would be making profits if the price dropped.
Please be very careful with future trading. Lots of traders have lost money in there. I suggest you thoroughly learn about futures trading before using your real money in it.
I know stop limit loss but im not interested at this right now
You might want to rethink about this. Stop limit usually help prevents you from getting your whole margin getting liquidated.
Can you hold open orders like for a year and if it goes up i take alot of profits
Unlikely, since funding rate could eat up your profits