
How to place your first futures order
There are two order actions in futures trading: a buy order and a sell order. Once you place an order, it is sent to the applicable futures exchange which serves as the centralized electronic market place for futures trading.
Before placing your first order, you need to determine the order price and the type of order you would like to enter in the futures market. Let’s take a look at some futures order entry basics to critical to learning how to trade futures.
The Fundamentals Of How To Trade Futures
For each order you place, you will want to understand the core fundamentals of the market you are trading including the size of the contract, the expiration months and the required margin.

Order Types
Before placing a trade, you have to decide on the order type you would like to submit to the exchange. You can control under what conditions and at what price an order will be filled using one of the three basic order types.
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Contract Specifications
Contract specifications are the terms and conditions that govern the way a particular futures contract is traded including the size of the contract, the expiration month and more.
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Margin in Futures
Before placing a trade, you have to decide on the order type you would like to submit to the exchange. You can control under what conditions and at what price an order will be filled using one of the three basic order types.
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Futures Symbology
Each futures contract traded has a futures symbol which is are comprised of three elements: The symbol root, the expiration month and the expiration year.
Learn moreBuild A Futures Trading Plan To Start Your Journey
As you learn how to trade futures, creating a trading plan including the futures markets you want to trade along with a risk management strategy can help you build a consistent trading approach.

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