You’ve learned orders.

But where do those orders actually go?
👉 What does the market look like from the inside?

CORE_IDEA

All orders are collected in one place:
👉 The Order Book

This is the real market.

STRUCTURE

The Order Book is split into two sides:
👉 Buyers (Bids)
👉 Sellers (Asks)

Bids = people who want to buy
Asks = people who want to sell

Each level shows:
👉 Price
👉 Volume (how much is available)

Think of it like a live marketplace.

On one side:
→ people placing buy offers

On the other:
→ people placing sell offers

The closer these two sides get — the more likely a trade happens.

WHERE_PRICE_COMES_FROM

Price is not random. It is the last agreed trade between a buyer and a seller.

When a Market Order hits:
👉 it matches with existing orders and a trade happens that becomes the new price

LIQUIDITY_IN_ACTION

Now connect this to what you learned:

👉 Limit Orders sit in the book. They create liquidity.
👉 Market Orders hit the book. They consume liquidity.

This interaction is what moves price

SPREAD_&_CONSUMPTION

There is one more important detail:

– The Spread –

Between the best buyer and the best seller, there is always a gap. This gap is called the Spread.

That’s why sometimes you buy at a slightly higher price than what you see on the chart

Now think of price movement like this:

👉 Market Orders start “eating” available orders

If buyers are aggressive:
→ they hit the available sellers level by level
→ this is called consumption of liquidity
→ when sellers get “eaten”, price moves up

If sellers are aggressive:
→ they hit the buyers
→ price moves down

Price moves when liquidity gets consumed.

And this brings us back to the bigger picture:
how orders interact and create movement.

DEPTH

The Order Book also shows depth.
👉 how much volume is available at each level

If there is a lot of volume:
→ price moves slower

If there is little volume:
→ price moves faster
→ this is why markets sometimes move violently

THE_KEY_IDEA

So now you see:
→ orders are not abstract
→ they exist in the market
→ they interact and create movement

Everything you trade — comes down to this interaction.

The market is not random. It is driven by orders and the way they interact.

[ ENGINE_SIMULATION: ORDER_BOOK_MECHANICS ]

NEXT_PHASE

Now we take one more step closer to reality.

Because trading is not free.
👉 There are costs you don’t always see at first glance.

The next module explains:
→ fees
→ slippage
→ hidden costs