Intermediate
Market limit stop and stop limit orders
Order instructions decide which tradeoffs you accept between price and execution. A protective order is only useful when its actual behaviour is understood.
Read articleFOLITIC / FUTURES TRADING GUIDE
Futures Trading Guide
Understand futures contracts, read market structure and build strategies for direction, relative value and hedging. Follow ten stages from contract basics to advanced research and disciplined risk management.
Start with What a futures contract commits you to, then follow the next lesson links. Explore 40 lessons with worked examples, exercises and further reading.
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Orders and Execution · All lessons
Orders and Execution
Translate a trading idea into orders that account for liquidity, costs and operational limits.
Intermediate
Bid ask spread slippage and the cost of a round trip
A strategy must pay for entering and leaving the market. Small theoretical advantages can disappear after spreads, fees and imperfect fills.
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Intermediate
Order books sessions and liquidity around announcements
Displayed depth is a snapshot of available interest, not a commitment that will remain while an order travels to the exchange.
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Intermediate
Trading a spread as one order or separate legs
A spread can be executed as a recognised combination or assembled one leg at a time. The choice affects exposure while the trade is being established.
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