Markets & Trading
Understand how markets work before your trading games. You'll learn order books, bid-ask spreads, market making, and strategies like statistical arbitrage and mean reversion.
30 lessons
55 min
Lessons
1. Intro
2. The Order Book
Where prices meet
4m
3. Market Orders vs Limit Orders
Choosing how to trade
4m
4. The Bid-Ask Spread
Why it exists
4m
5. Quiz: Order Book
Test your understanding
2m1 problems
6. Adverse Selection
Trading against the informed
4m
7. Inventory Risk
Managing your position
4m
8. Price Discovery
How prices form
3m
9. Quiz: Market Making
Test your understanding
2m1 problems
10. Make Me a Market
The core interview game
4m
11. Setting Your Spread
Confidence and risk
4m
12. Adjusting to Information
Learning from trades
4m
13. Quiz: Trading Strategies
Test your understanding
2m1 problems
14. Position Management
Tracking your risk
3m
15. Figgie and Card Games
Jane Street's approach
4m
16. Practice Resources
Where to build skills
3m
17. Quiz: Risk Management
Test your understanding
2m1 problems
18. Market Structure Overview
19. Exchange Types
20. HFT Basics
21. Quiz: Execution
Test your understanding
2m1 problems