Speed 1 = Normal Spells and continous spell cards, Ignition effects (monsters that have effects that you choose when to activate.)
Speed 2 = Quickplay spell cards, Trap Cards, Continous Trap cards, multi-Trigger Effects (monster effects like Sorcerer of Dark magic and Horus the black flamed dragon Lv. 8)
Speed 3 = Counter Trap.
Continous = Effects that cant be stoped unless you put the monster face down or remove it from the field.
continous monster effects are the following:
Horus the black flamed dragon lv. 6
Jinzo
Dark Ruler Ha Des
Pitch Black War Wolf
Mirage Dragon
Silent Swordsman Lv. 5
Spell Cancellor
Different Dimension Dragon
Element Monsters (Element Saurus, Element soldier, Element Magician, etc...)
these effect activate as soon as the monster hits the field.
the only Counter cards that can negate these are Solem Judgement and Horn of Heaven. They are used to Negate the summon of said monster in order for the effect to never take place because the monster wouldnt have had made it to the field.