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PipsMorrow

Market Mechanics

How the market behaves around you: who else is trading, when liquidity is there, how your order really fills, and how to check a broker before you trust it with money.

BEGINNER
  • 6 lessons
  • 24 topics
  • ~1.8 hrs
Start the first lesson

By the end of this track

You can tell an ordinary fill from a bad one, pick your trading hours deliberately, and check a broker before depositing.

What this track covers

Who is on the other side

Retail traders are a small part of this market. Knowing who the rest are explains most of what looks random.

01

Who Trades Forex and Why

14 min4 topics

Banks, corporates, funds and retail — what each one is in the market for, and why most of them are not trying to predict direction.

  • The interbank core
  • Corporates, hedgers and central banks
  • Funds and speculators
  • Where retail fits
Start lesson
02

Sessions, Liquidity and the Clock

18 min4 topics

Why the same pair behaves like a different instrument at 03:00 and at 15:00.

  • The three sessions and their overlaps
  • Liquidity and spread through the day
  • The rollover window
  • Picking your hours on purpose
Start lesson

How your order actually fills

The gap between the price you clicked and the price you got, and when that gap is normal.

03

Execution, Slippage and Requotes

18 min4 topics

What happens between your click and your fill, and how to tell ordinary slippage from a problem.

  • The path an order takes
  • Slippage, positive and negative
  • Requotes and when they appear
  • What normal looks like, with numbers
Start lesson

Before you deposit

The checks that are worth an hour now and cannot be done after the money is gone.

05

Regulation and Where Your Money Sits

18 min4 topics

What a licence does and does not protect, and the difference between an entity and a brand.

  • Brand versus legal entity
  • What a regulator requires
  • Segregated client funds
  • The limits of protection
Start lesson

6 lessons · ~1.8 hrs