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Order book: Easy explanation. [Video]

Order book: Easy explanation.

In this video, you will learn about order books.

#orderbook #financialmarket #wallstreetmojo #continuousbook #electronicrecord

Chapters:
00:00 – Introduction
00:31 – What is an order book?
01:38 – Advantages of the order book
02:42 – Example
03:11 – Order book trading strategies
04:03 – Conclusion

What is order book?
An order book is an electronic book that records all buy and sell orders for a specific stock, currency, derivative, bond, etc.

You’ll find data on the bid and ask offers, along with other orders like market orders, limit orders, stop loss, trailing stop loss, etc.

The order book is also known as a continuous book as it keeps getting updated in real time throughout the day.

(Explained in detail in the video)

Advantages of the order book
Traders can use the order book to know market trends, popular stocks, and market sentiment, which will help them make better decisions.

One of the most basic uses of the order book is to identify price levels at maximum buy or sell orders, which gives the support and resistance levels.

Another advantage of the order book is that it allows market participants to see who is placing the order and at what price. This makes the entire thing very transparent.

(Explained in detail in the video)

Example
NASDAQ has an order book called TotalView that claims to be the most comprehensive book available in the US and worldwide.

TotalView also provides historical trading volumes, securities price data, and other tools.

Order book trading strategies
If the order book shows that the stock is in an uptrend or a downtrend, traders can assume that this trend will continue for some time and trade accordingly.

The order book can also tell the trader when the market might flip and the trend might bend. That way, traders can exit or take fresh trades in the new trend’s direction.

Many market participants prefer technical analysis over fundamental analysis. So they can use the data from order books to find a quantitative edge by building algorithms.

This was all about order books. Don’t forget to give the video a like and also subscribe to the channel.

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