Trading Reality — Markets in Production

The ABC of Forex trading

Notes from inside a retail broker

Oct 2 • Tibor S

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September 2026

The unsexy moat

Best vs the rest – earned and unearned tier-advantages

Sep 11 • Tibor S

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August 2026

Do Batch Auctions guard against HFT, or just pocket the bounty?

Of hens, wolves, and foxes

Aug 27 • Tibor S

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Mid-prices never cut it

The assumption your AI will happily optimize straight into a wall

Aug 11 • Tibor S

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July 2026

Not All Informed Trading Is Research

The HFT moralizing bias that ignores the reality of Insider Trading

Jul 23 • Tibor S

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Why you need two systems for running automating trading strategies

Issue 1 · The Model Is Not the Market — Gate 3: how to run in production?

Jul 15

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"Use Anything But Past Returns"

Issue 1 · The Model Is Not the Market — Gate 2: is the edge real?

Jul 14 • Tibor S

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What happens if you measure hedge fund returns properly?

Issue 1 · The Model Is Not the Market — Gate 1: do the numbers mean anything?

Jul 7

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June 2026

ISSUE 1 - The Model Is Not the Market

Three gates a strategy has to pass

Jun 30

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A realistic order simulation framework

Why I wrote ordersim

Jun 23 • Tibor S

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Trading Reality is becoming a curated publication

One desk can’t see it all

Jun 18 • Tibor S

Short Essays: Good trade, bad trade

Follow the everyday intuition

Jun 2 • Tibor S

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