Trading Basics
Buy Limit
An order type where the trader wishes to go long at the limit price or lower.
Other Trading Basics
Blue Chip
Well established, big companies.
A blue chip is an expensive chip on the poker table
Contango
This is when the futures price of a security is above the cash price at maturity. The opposite is backwardation.
Bid
Traders can go short at the bid price.
The terminology is from the broker point of view, they are bidding to buy from you.
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