Chapter 5 · Reading the price screen
Market depth: what you can actually trade at
The order book shows real buyers and sellers waiting, and it is the only honest answer to 'what price can I get?'
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Market depth lists the unfilled orders: buyers with the prices they will pay, sellers with the prices they will accept, and the quantity at each level. This is what LTP cannot tell you.
Reading it
- The best bid is the highest price a buyer is offering. Sell now and this is roughly what you get.
- The best ask is the lowest a seller will accept. Buy now and this is roughly what you pay.
- The gap between them is the spread — your immediate cost of a round trip.
- The quantity at each level tells you how much you can trade before moving the price.
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