Lesson / WY-06-28
A market order requests execution against available quotes as soon as possible, prioritizing fill probability rather than price certainty. The visible best bid and ask are only part of liquidity. If size exceeds that level, the remainder may trade against worse quotes within venue price protections, trading bands, and other rules; suspensions, rejections, or disappearing liquidity may still prevent a full fill. Fast markets, openings, and gaps can change quotes before the instruction arrives. When estimating buys at Ask and sells at Bid, the spread is already in expected execution and must not be added again as a cost.
Course content is for learning and research only. It is not investment advice.
Read the Chapter ↗Timestamps
10 lessons · Chapter contents
01Analytical Bias, Trading Opportunity, and Entry Trigger↗02Tests, LPS/LPSY, Breakout Retests, and Trend Continuation↗03Early, Confirmed, and Retest Participation↗04Price Advantage, Information, and Potential Risk↗05Hypothesis Invalidation, Discretionary Exit, and Protective Stops↗06Market, Limit, and Stop Orders↗07Risk Budget, Unit Risk, and Position Sizing↗08Multipliers, Minimum Ticks, Currencies, Costs, and Nonlinear Products↗09Portfolio Correlation, Concentration, and Abnormal-Market Contingencies↗10A Complete Trading Plan↗Observe the market: start with context and place price within its structure.
Understand structure: compare supply and demand, and let evidence support or revise your hypothesis.
Form a view: define risk limits and know when to reassess.
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Relative Strength and Opportunity Screening
Point-and-Figure Charts and Price Target Estimation
