Who is on the other side, and where their orders sit.
Price tells you what happened. Positioning tells you how crowded the trade is, and liquidity tells you where price is likely to be drawn. This course covers the public data that gives you both, and how to use it without over-reading it.
advanced · 2 lessons · 30m
What you'll cover
Reading COT PositioningThe weekly window into what large speculators are actually doing.The Commitments of Traders report is one of the few genuinely free windows into institutional positioning. This lesson covers what it contains, what it is good for, and the two…
Liquidity and Where Orders PoolWhy price so reliably visits the obvious places first.Large orders need someone to trade against. This lesson is about where that "someone" reliably exists, and what it implies for where price goes and where your stop should not be.
Who this course is for
Positioning and Liquidity is a advanced course in the Advanced Trading track of the FX Terminal Academy. It assumes you are comfortable with the basics and want the reasoning behind the decisions. There are 2 lessons, about 30m of reading in total.
Every lesson is free to read, and no account is needed to read one. Signing in only records which lessons you have finished, keeps your place across devices and issues the completion certificate at the end.
How to work through it
Read the lessons in the order they are listed: each one builds on the vocabulary and the ideas of the one before it. Each lesson ends with a short quiz that checks you took the point rather than the wording, and links straight into the FX Terminal screen that puts it to work — so the idea is tested against live market data instead of staying on the page.
You can stop between lessons and come back; nothing here expires, and the course quiz at the end covers the whole set rather than the last thing you read.
Common questions
Is Positioning and Liquidity free?
Yes. Every lesson is free to read in full. There is no paywall, no trial and no card required, and the live FX Terminal screens each lesson links to are free as well.
Do I need any trading experience to start?
Yes. It is written for readers who already trade and want the reasoning behind the decisions rather than an introduction to the mechanics.
How long does the course take?
2 lessons, roughly 30m of reading. It is self-paced — there is no schedule and no expiry, so stopping between lessons costs you nothing.
Do I need an account?
Not to read. An account is free and only exists to remember which lessons you have finished, carry that across devices, and issue the certificate when you complete the course.
Is there a quiz or a certificate?
Each lesson ends with a short quiz, and the course has its own assessment covering the whole set. Completing it while signed in issues a certificate you can share.
Will this course tell me what to trade?
No. The Academy teaches how the market works and how to read the data; it does not issue signals or recommendations. Nothing on FX Terminal is investment advice.