Trade expression
Definition · Level 14 · Markets & pitch
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How you act on the idea: shares, a call, a call spread, a future. The best one fits the view (how far, by when) and how much you can lose.
Example
Expect 108 but not 110: the 100/110 call spread beats the plain call.
Where Tradecraft teaches it
Level 14 · Markets & pitch, in the lesson “The two-minute trade pitch”: A worked pitch in five parts: idea, why now, how to express it, risk, and what would make you wrong.
Related terms
- CatalystThe event or date that should make the idea play out soon: results, a data release, a central-bank meeting.
- ThesisThe idea behind a trade in one sentence: what you expect to happen and why.
- Trade pitchA two-minute answer in five parts: idea (thesis), why now (catalyst), how (instrument), risk and size, and what would make you wrong (exit).
- What would make you wrongThe observable fact or price level that would show the idea has failed, stated before you enter: a guidance cut, a close below a level.
- “Are you sure?”Often a pressure test rather than a hint that you’re wrong: re-check in one line, then hold a correct answer, or fix a wrong one without fuss.
- Backed upDesk slang for yields rising, so bond prices falling.