Trading
Book Pressure and Trade Impulse: Signal or Backtest Bait?
Rebuild two classic microstructure teaching signals, then stress-test the assumptions that make an attractive formula fail in real crypto markets.
Michael Gu
Category
Order Books
Articles tagged Order Books.
Trading
The Order Book Is Not the Market: How Bids, Asks and Trades Become a Price
Learn how order events create bids, asks, spreads, depth and trades—and why the visible book is only a conditional snapshot of liquidity.
Michael Gu
Trading
What Happens After You Tap Buy? Anatomy of a Crypto Trade
Follow one hypothetical crypto order from a live quote through market data, risk checks, matching, fills and account reconciliation.
Michael Gu
Trading
When the Winning Bet Still Loses: Spread, Slippage and Partial Fills
A correct prediction is not automatically a profitable trade. Learn how bid-ask spread, visible depth, fees, latency, queue uncertainty, and partial fills change the result.
Michael Gu
Trading
When AI Agents Trade Against Each Other: Who Makes the Market?
A practical explanation of how automated market makers quote prediction markets, manage inventory and survive adverse selection—without pretending the order book reveals who runs an AI agent.
Michael Gu