Course 07 of 20 · Power and Electricity Desk Academy

Intraday Trading & Position Adjustment

Stage B, Market execution. Level 4 of 10.

The adjustment of an open position inside the delivery day against revised demand forecasts and plant availability.

126 chapters · 12 modules · every chapter one 8 to 10 minute explainer · builds on: Course 02, Course 05, Course 06

Enrol or enquire See the 126 chapters
How a chapter is sized

One chapter is one idea taken to the point of use

Each chapter is a single self-contained explainer of 8 to 10 narrated minutes, covering one idea to the point where you can use it.

Chapters run in order. Each one assumes only what the chapters before it taught, and capability belonging to a later course is named and deferred rather than half-covered.

Curriculum

12 modules · 126 chapters

Open any module for its full chapter list, in teaching order.

M0 The Day After the Auction Ch 1-10
  1. Where the Delivery Day Begins
  2. The Open Position Gate Closure Leaves You With
  3. What Changes Between Yesterday Evening and Delivery
  4. Trading Inside the Day Against Trading Ahead of It
  5. Two Levers: Buy the Shortfall or Move the Plant
  6. Why the Settlement Period Becomes the Unit of Work
  7. The Window That Closes on Every Period
  8. What a Closed Position Actually Means
  9. The Desk Through One Delivery Day
  10. What Is Assumed Before the First Intraday Trade
M1 Reading the Position You Start the Day With Ch 11-20
  1. Turning Cleared Auction Volumes Into Today's Obligation
  2. The Period Net: Long, Short and Flat Across the Shape
  3. Declared Output Against Expected Output
  4. Customer Offtake as the Uncertain Side of the Net
  5. When Your Position Granularity and the Market's Do Not Match
  6. Stating the Instant the Position Is True At
  7. The Blotter a Trader Reads at Shift Start
  8. Separating What You May Adjust From What You May Not
  9. Carrying the Overnight Periods Into a New Trading Day
  10. One Opening Position Assembled From Source Records
M2 The Demand Forecast Revised Inside the Day Ch 21-31
  1. Why the Load Forecast Is Already Wrong by Breakfast
  2. Temperature Nowcasts and the Periods They Move
  3. Cloud Cover, Daylight and the Afternoon Shoulder
  4. Humidity, Wind Chill and the Temperature Consumers Respond To
  5. The Day Type That Turned Out to Be Something Else
  6. Televised Events, Warnings and One-Off Consumption
  7. Reading Observed Demand Against Forecast Demand as the Day Runs
  8. Persistence: When This Period's Error Predicts the Next
  9. Rebasing the Rest of the Day From What Has Already Happened
  10. How Often to Re-Forecast, and When Another Run Adds Nothing
  11. A Midday Demand Re-Forecast Produced Step by Step
M3 Plant Availability Revised Inside the Day Ch 32-43
  1. The Unit That Failed to Synchronise
  2. A Trip at Full Load and the Hole It Opens
  3. Derates: Losing Part of a Unit Rather Than All of It
  4. Ambient Conditions That Quietly Reduce Capability
  5. Return to Service and the Periods You Cannot Yet Count
  6. Ramp Rates as a Limit on How Fast You Can Respond
  7. Minimum Stable Generation and the Floor Under Your Flexibility
  8. Minimum Run and Minimum Off Times Inside a Single Day
  9. Start Costs and the Choice to Fire a Unit at Noon
  10. A Fuel Restriction Arriving at the Power Station Mid-Day
  11. Hydro and Pumped Storage Already Drawn Down by Lunchtime
  12. One Unplanned Outage Translated Into Period Positions
M4 Weather-Driven Output Revised Inside the Day Ch 44-53
  1. The Wind Forecast That Changes Three Times Before Noon
  2. Ramp Events and the Period the Wind Arrives Late
  3. Photovoltaic Output Under a Moving Cloud Field
  4. Why Site Telemetry Beats a Regional Aggregate for Your Position
  5. Icing and High-Wind Shutdown at the Top of the Range
  6. A Network Instruction to Reduce Output, Received Mid-Day
  7. Forecast Confidence and Adjusting Against a Range
  8. Rolling Many Sites Into One Expectation per Period
  9. When Your Output Error Moves With the Price
  10. A Collapsing Wind Forecast Turned Into Orders
M5 The Intraday Market and Its Products Ch 54-64
  1. The Continuous Order Book, Period by Period
  2. Intraday Auctions Sitting Inside a Continuous Session
  3. Hourly, Half-Hourly and Quarter-Hourly Contracts Side by Side
  4. Intraday Blocks and the Shapes They Save You Building
  5. Product Gate Closure and the Last Moment to Trade a Period
  6. Bilateral Intraday Deals Alongside the Exchange
  7. Broker Screens, Voice and the Trade That Never Touched an Exchange
  8. Reading Depth in a Period Almost Nobody Wants
  9. The Shape of Liquidity Across the Trading Session
  10. One Period, Two Venues, Two Prices
  11. Mapping Your Venues Before the Day You Need Them
M6 Execution Inside the Day Ch 65-75
  1. The Order Types a Desk Actually Uses
  2. Working an Order Against Taking the Screen Price
  3. Spread, Slippage and the Price of Impatience
  4. Assembling a Twelve-Period Shape From Single-Period Trades
  5. Partial Fills and the Exposure You Still Carry
  6. Hidden Size, Visibility and Showing Your Hand
  7. Buying Away From the Level Your Economics Need
  8. Executing When You Are the Only Interest in the Book
  9. Breaking a Large Correction Into Several Smaller Ones
  10. Amending, Cancelling and the Danger of a Stale Order
  11. The Same Correction Executed Three Ways, Compared
M7 The Decision: Trade, Redispatch or Carry Ch 76-86
  1. The Question Every Revision Forces on You
  2. Costing the Market Trade That Would Close the Gap
  3. Costing the Instruction That Would Move Your Own Output
  4. Costing the Decision to Leave It Open
  5. Three Costs Compared on a Single Period
  6. Why the Obvious Fix Is Often the Expensive One
  7. Partial Correction and Deliberately Keeping a Residual
  8. Period Decisions That Work Against Each Other
  9. Solving This Evening and Creating Tomorrow Morning
  10. Decision Thresholds Agreed Before the Day Begins
  11. A Revised Day Decided Period by Period
M8 Forming a Price View Inside the Day Ch 87-95
  1. What You Must Believe About Price Before You Trade at All
  2. Reading the Intraday Level Against Last Night's Clearing Price
  3. System Tightness Signals Published Through the Day
  4. A Margin Notice Arrives: What the Desk Does Next
  5. Why Intraday Prices Move in Steps Rather Than Drifts
  6. Flow-Driven Moves With No News Behind Them
  7. Forming a View on the Last Periods of the Day
  8. Early and Wrong, Late and Right
  9. A Price View Recorded in Advance and Scored Afterwards
M9 Information, Conduct and the Written Record Ch 96-105
  1. The Outage You Know About Before the Market Does
  2. Publishing What You Must Before You Trade on It
  3. Trading Around Your Own Plant Failure
  4. Order Entry That Looks Like Something It Is Not
  5. Adjusting a Position Against Influencing a Price
  6. Speaking to a Counterparty Mid-Day Without Saying Too Much
  7. Recording Why a Trade Was Done, Not Only That It Was
  8. Timestamps, Recordings and Rebuilding One Period Afterwards
  9. Explaining a Day to Somebody Who Was Not on the Desk
  10. Who Inside the Firm Is Allowed to Move the Position
M10 Limits, Mandates and Working Under Pressure Ch 106-114
  1. Why an Intraday Mandate Is Written Differently
  2. The Ceiling on a Single Period's Exposure
  3. Open Position Ceilings That Tighten as Delivery Approaches
  4. Loss Triggers and the Discipline to Stop Trading
  5. Escalating Mid-Day Without Losing the Window
  6. Shift Handover and a Position That Changes Hands
  7. Screens Down: Working When the Systems Fail
  8. Pace, Fatigue and the Errors That Only Happen at Dusk
  9. One Limit Breach, Its Cause and What Followed
M11 The Day Worked End to End, and Its Limits Ch 115-126
  1. The Worked Day: Opening Position and Plan
  2. Morning: The First Revision and the First Orders
  3. Late Morning: A Unit Comes Off
  4. Afternoon: The Wind Forecast Falls Away
  5. Evening Peak: Short, Thin and Running Out of Time
  6. The Final Period: What Can Still Be Changed
  7. The Worked Day Reviewed Against the Decisions Taken
  8. A Second Day on Which Doing Less Was Correct
  9. Scoring Intraday Performance Without Flattering It
  10. What Adjusting a Position Inside the Day Cannot Fix
  11. Where These Threads Continue in Later Courses
  12. Good Decisions Against a Closing Window

The brochure gives each of these 126 chapters a paragraph on what it covers and what you can do once you have worked through it.

This is course 7 of twenty

It stands alone, and it is also the entry point to the Power and Electricity Desk Academy pathway.

Enrol or enquire See the whole pathway