Trading and market structure
Plain-English guides with worked examples: how to read financial statements, value a business, use technical indicators and manage risk. See the complete Financial knowledge series →
All 142Market basics 15Trading and market structure 15Reading financial statements 15Ratios and business quality 15Valuation 15Advanced valuation and methods 15Technical analysis 15Portfolio, risk and behaviour 15Economy, sectors and the calendar 22
Trading and market structure · 5 min read
Bid, ask, spread and liquidity explained
Learn what the bid, the ask and the spread mean, how they measure a hidden trading cost, and why liquidity decides how e...
Trading and market structure · 5 min read
Market, limit and stop orders: choosing the right order type
Compare market, limit, stop and stop-limit orders, see what each one guarantees and risks, and learn how time-in-force s...
Trading and market structure · 4 min read
Pre-market and after-hours trading: hours, risks and quirks
See when US extended-hours trading happens, why prices can swing on thin volume, and why an after-hours move does not al...
Trading and market structure · 5 min read
Trade settlement and T+1: what happens after you buy
Learn the difference between trade date and settlement date, how US stock settlement moved to T+1 in 2024, and what clea...
Trading and market structure · 5 min read
Short selling explained: how it works and where it goes wrong
Learn how selling borrowed shares works, why losses on a short can exceed the amount invested, and what short interest,...
Trading and market structure · 4 min read
Margin and leverage: how borrowing amplifies gains and losses
Understand how margin accounts let you borrow to invest, how margin calls are triggered, and why leverage magnifies loss...
Trading and market structure · 5 min read
Options basics: calls, puts and what a premium buys
Learn what call and put options are, how the premium is built from intrinsic and time value, and how to work out break-e...
Trading and market structure · 5 min read
Futures contracts basics: what they are and who uses them
Learn what a futures contract is, how margin and daily settlement work, and why hedgers and speculators both use index a...
Trading and market structure · 4 min read
Bull and bear markets: definitions and what history shows
Learn how bull and bear markets are usually defined, how long and how deep past US bear markets have been, and why the l...
Trading and market structure · 4 min read
Market corrections and crashes: how they differ and how they end
Learn how pullbacks, corrections, bear markets and crashes are defined, how recoveries have varied, and why a 50% loss n...
Trading and market structure · 4 min read
Volatility and the VIX fear index
Learn what volatility measures, how the VIX turns S&P 500 option prices into an expected 30-day swing, and what it canno...
Trading and market structure · 5 min read
Market makers and high-frequency trading
Learn how market makers quote both sides of a stock, how high-frequency traders use speed, and what both mean for the pr...
Trading and market structure · 5 min read
Dividends: declaration, ex-dividend, record and payment dates
Learn the four dividend dates, who actually receives a payment, why the stock price drops on the ex-dividend date, and h...
Trading and market structure · 5 min read
Share buybacks explained: when they help owners and when they do not
Learn how share repurchases work, why they raise earnings per share, and how to tell a buyback that creates value from o...
Trading and market structure · 5 min read
Dual-class shares: voting control and what it means for investors
Learn how dual-class share structures separate voting power from ownership, why founders use them, and what to check in...
Educational only, not financial advice.