Topic
Trading
Trading is an order, a fee, and someone on the other side. The number on the screen is the last trade. It is not a plan, and it is not a promise.
- 01Who gets paidThe fee, the spread, and the funding if a position stays open.
- 02Who can change the rulesThe exchange, the broker, or the contract can change the margin, the hours, and the exit.
- 03Who can stop the moneyA liquidation, a freeze, or a withdrawal that never leaves.
Courses
61 · 2 min
Orders and the book
An order book is a list of people waiting to buy and sell. A market order takes what is there. A limit order waits for your price, and it may never fill.
62 · 3 min
Fees, spread, and slippage
You pay to get in and you pay to get out. A hope that looks small can be smaller than those costs.
63 · 2 min
Leverage, margin, and liquidation
Leverage means you control a larger position than the money you put up. A small move against you is magnified. Past a line, the position is closed for you.
64 · 3 min
Shorting
A short is a bet that the price will fall. You can be wrong by more than you planned, because a rising price has no neat ceiling.
65 · 2 min
Perpetuals and funding
A perpetual is a derivative with no expiry. Funding is a fee paid between longs and shorts so the contract price stays near the spot price. You can pay it all night.
66 · 2 min
Options
A call is the right to buy at a strike. A put is the right to sell at a strike. Both expire. This is what they are. It is not a book of trades.
67 · 2 min
Size, stops, and the journal
Size is a number you write before the story gets good. A stop is an exit you wrote before. Hope is moving that exit because the price disagreed.
68 · 2 min
Charts
A candle is a picture of the price over some minutes. It shows where trades happened. It does not show the future, and it does not show who was painting it.
69 · 3 min
Bots, grids, and copy trading
A bot follows a rule when you are not watching. A grid places orders above and below a price. Copy trading follows someone else's clicks. All three still pay fees, and all three can follow you off a cliff.
70 · 2 min
Open interest, volume, and smart money
Open interest is how many derivative contracts are still open. Volume is how much traded. Smart money is a label someone put on a wallet. None of these is a person who owes you a profit.
71 · 2 min
Backtests
A backtest shows how a rule would have done on old prices. Old prices do not include every fee, every moment you would have hesitated, or the future.
This page does not tell you what to buy. Not financial advice.