Curriculum·Senior·R404
Execution and Trade Craft
The Flash Crash, 6 May 2010.1B of notional, as a hedge against an existing equity position.
Start with lesson 15 lessons · about 3.1 hours · free account to read in full
Lesson 1 opens on
The CME futures launch, 17 and 18 December 2017
CME Group self-certified its bitcoin futures contract on 1 December 2017 for a first trade date of Monday 18 December, with trading opening on the evening of Sunday 17 December; Cboe had listed bitcoin futures a week earlier, on 10 December. CME had announced the plan on 31 October, so the launch was public weeks in advance, and it was widely presented as a way for institutional investors to buy in. Bitcoin, worth over $10,000 from 1 December, rose steeply and peaked at roughly $19,511 on 17 December, the day CME trading opened.
The lessons
- R404-01Entry modelsSeparate the three families of entry model by the source of the edge each one claimsabout 33 min · opens on The CME futures launch, 17 and 18 December 2017
- R404-02Stop placementState what a stop order actually is, and what it does not promiseabout 43 min · opens on The Swiss National Bank floor removal, 15 January 2015
- R404-03ExitsName the three reasons to exit and match each to the entry model that produced the tradeabout 33 min · opens on The Robinhood outages, 2 and 3 March 2020
- R404-04Order types on derivative venuesClassify the order types and flags by what each one bounds: price, time, or positionabout 34 min · opens on The Citigroup basket order, 2 May 2022
- R404-05True cost of a strategyEnumerate the six components of the true cost, and which ones are invisible by defaultabout 42 min · opens on The Robinhood best execution order, 17 December 2020