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Order Flow

Every price on a book is a line of orders waiting their turn. You'll find where you stand in that line, what an order that can't wait really pays, and who's sitting on the other side. Then the ladder, a step at a time: size that sits, size that vanishes, size that keeps coming back, and the trades that show who acted. Eleven lessons, and the last one reads a ladder you've never seen.

Stage 69 of the TradeWize advanced track: you'll read the order book as a queue and the tape as the record of who traded, through the spoof, the iceberg, delta and the footprint bar.

0 / 11 done
StartLesson 1 · The Queue
What you’ll leave with11 lessons · 5-line playbook
  • My limit order joins the back of a queue, and everything ahead of me fills before I do.
  • A market order pays the book it walks through, and I measure the cost against the arrival price.
  • Resting size is a claim, not a trade, and I read what pulls, not what sits.
  • Aggression that does not move the price is being absorbed, and the absorber usually wins.
  • Delta is buying minus selling, and a new high on falling delta is a warning.