MARKET MECHANICS · 8 CHAPTERS
Inside the Market
Follow orders through market structure, liquidity, dealers, venues and price discovery without inventing unsupported stories from a chart.
What you will learn
- CHAPTER 01
Who Participates—and Why
Understand the main roles in a market, why they trade, how those roles overlap, and why price alone rarely identifies the participant behind a movement.
Read chapter → - CHAPTER 02
From Order to Trade
Follow an instruction from the learner or institution through order creation, routing, matching, execution, partial filling and cancellation.
Read chapter → - CHAPTER 03
Bid, Ask, Spread and Depth
Read a quotation, understand the cost and capacity represented by the spread and available depth, and explain why liquidity changes.
Read chapter → - CHAPTER 04
Market Makers, Dealers and Inventory Risk
Explain how liquidity providers quote, intermediate and hedge without treating them as neutral charities or omnipotent price controllers.
Read chapter → - CHAPTER 05
Large Orders and Market Impact
Explain why size changes execution, how large orders are managed, and why visible price impact does not reveal a participant's identity or intention by itself.
Read chapter → - CHAPTER 06
Stops, Breakouts and Liquidity Clusters
Explain how conditional and clustered orders can intensify movement around visible levels without claiming that every break or reversal was deliberately engineered.
Read chapter → - CHAPTER 07
Price Discovery Across Venues
Understand how trading distributed across exchanges, dealers and electronic systems contributes to observable prices in equities and Forex.
Read chapter → - CHAPTER 08
Reading Mechanics Without Inventing a Story
Apply the entire course through an evidence-first method that separates observations, mechanisms, inferences and allegations.
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