Basically FuturesSTAGE 01 OF 07
Futures Foundations
Contracts, exchanges and the true cost of leverage
Understand what you are trading before thinking about strategies.
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Study sequence
01Why futures markets existFutures markets connect people seeking to reduce price uncertainty with people willing to assume price exposure.Estimated 8–12 min · Interactive knowledge check○02Reading a contract specificationContract specifications are the rulebook for what one futures position represents.Estimated 8–12 min · Interactive knowledge check○03Micros, minis, and choosing an instrumentSmaller contracts change risk per tick; they do not make leverage harmless.Estimated 8–12 min · Interactive knowledge check○04Margin, notional value, and leverageFutures margin is a performance bond, not the maximum amount a trade can lose.Estimated 8–12 min · Interactive knowledge check○05Orders, fills, and transaction costsA trade has a quoted price, an execution price, and expenses between them.Estimated 8–12 min · Interactive knowledge check○
STAGE CHECKRIDE
Demonstrate your understanding
5 questions · Pass at 4/5 · Review feedback and retry.