The order flow guide: effort, result and multi-day framing

Forty minutes that run from the order book to execution, published by a competition trader. The basics first: market orders take liquidity and guarantee the fill, not the price; limit orders provide liquidity and guarantee the price, not the fill. Slippage comes from a book that is too thin at the best price. Then four readings, always the same ones, of effort compared with result, and two less common ideas that this course has taken up.

The multi-day framing of profiles

The author keeps two months of cash session profiles on the Nasdaq, merges the profiles that overlap to see multi-day balances, and colors each zone: one color for a long bias or a support, one for a rejection zone (a price never accepted), one for a distribution warning, one for indecision. A "P" profile (aggressive buying that closes at the high) often gives a follow-through the next day. The "hook", or failed auction (a brief break of a value boundary followed by a return inside), is treated as a high-success-rate trap in the direction of the trend.