Market Microstructure
Intro
Knowing how markets trade (order book, liquidity, market makers) helps you choose order types and anticipate slippage.
Key concepts
- Limit vs market liquidity and how large orders move price.
- Time-of-day liquidity patterns for XAU/USD.
GOLD example
Placing large market orders into thin pre-market sessions can cause large adverse fills on XAU/USD.