Trading Reality — Markets in Production

Trading Reality — Markets in Production

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ISSUE 1 - The Model Is Not the Market
Three gates a strategy has to pass
Jun 30
A realistic order simulation framework
Why I wrote ordersim
Jun 23 • Tibor S
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

May 2026

Under the hood: Adverse Selection
What spreads are made of
May 19 • Tibor S
The Hand of the Maker
What “informed” and “uninformed” actually mean in practice
May 8 • Tibor S
Front-loaded Value in Trading
The surprisingly consistent shape of a good signal
May 1 • Tibor S

April 2026

Execution IS the Strategy
Why your best-looking fills should worry you the most
Apr 27 • Tibor S
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