Day Order

Trading Basics

Day Order

When a trader places and order that is open for the day. If the price is not hit during that day the order expires.

Other Trading Basics

Bulls

Bulls are market participants and commentators that believe the price of a security will rise.

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Cable

Another name for the GBP – USD exchange.

Around half a trillion dollars is traded between the two currencies everyday, making it the third most popular currency pair to trade in behind EUR – USD and USD – JPY.

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Backwardation

Backwardation occurs when a bid price exceeds the ask price.

This usually occurs when stock is suspended or under a share repurchase scheme.

It can also mean that a futures contract will trade at a higher price when it is coming close to expiring.

The opposite of backwardation is known as contango.

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