Objective
Complete the walkthrough and be comfortable with:- Reading the order book (price ladder)
- Placing and canceling orders
- Tracking position and P&L
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Price ladder basics
The ladder is a live view of supply and demand for one instrument. Prices sit in a center column spaced by the tick size.- Bids (buy side) — pending buy orders and sizes at each price
- Asks (sell side) — pending sell orders and sizes at each price
- Spread — gap between the best bid and the best ask