Glossary
Order book
The live list of buy and sell orders at each price. Its depth tells you how much can be traded before the price moves against you.
See also
SpreadThe gap between the best buy price and the best sell price. It is a cost you pay on entry and again on exit, whether or not the trade works.
SlippageThe difference between the price you expected and the price you got, caused by your own order moving through the book. It grows with order size and shrinks with liquidity.
LiquidityHow much can be bought or sold without moving the price much. Thin liquidity is what turns a paper gain into an exit you cannot take.
Last checked 19 Oct 2026.