←Stage 50 · Premium
Crypto

How Crypto Trades

You know what you own. Now you'll buy some. Crypto trades every hour of every day, on hundreds of venues, and none of them agrees on the price. This stage is the order book, the four order types as they behave here, and what a fill really cost you once the spread and the slippage are counted. Twelve lessons, all of them spot and fully funded.

Stage 50 of the TradeWize crypto track: placing a spot order in a market that never closes and never has one price. Order books, the four order types, spread, slippage and liquidity.

0 / 12 done
StartLesson 1 · The Market That Never Closes
What you’ll leave with12 lessons · 8-line playbook
  • Crypto has no close, so my plan has to work while I am asleep.
  • I know which pair I am trading and what the quote currency is worth.
  • A stop that can be skipped is not protection. I know which of mine can.
  • I judge a fill on the effective price, not the price I clicked.
  • Before I size a position, I check whether I could get out of it.
  • Structure transfers to crypto. Session logic and single-venue volume do not.
  • I build size in pieces, priced, rather than in one order at whatever it costs.
  • I run the same four checks on every pair before my first order in it.

All lessons

  1. 01The Market That Never Closes
  2. 02There Is No One Price — Venues, Pairs and the Quote Currency
  3. 03Reading a Crypto Order Book
  4. 04Market, Limit and Stop-Limit in a Market That Wicks
  5. 05Spread, Slippage and What the Trade Actually Cost
  6. 06Market Cap, FDV and Float — Three Numbers That Disagree
  7. 07Liquidity Is Not Volume
  8. 08What Transfers From Your Chart Training, and What Doesn't
  9. 09Deposits, Withdrawals and the Money Actually Moving
  10. 10Building a Position Without Getting Chopped Up
  11. 11Your First Crypto Trade, End to End
  12. 12Market Structure Capstone