What you need before you start

This course assumes you already read a price chart and know what a limit order, a market order and a delta are. The necessary refreshers are in module 4, the definitions in the glossary of the last lesson. It also assumes a specific workstation: the platform, its two optional modules, and a data feed that provides order book depth order by order.

The instrument

The course deals with ES, the E-mini S&P 500 future, and its micro, MES. You always read the ES order book, because the liquidity, the walls and the icebergs are there; you execute on ES or on MES depending on what the account can bear. All times are Paris time: the trader this course is written for trades from Europe, in the afternoon and evening.