QUANT

Order flow trading and market microstructure

Not general quant trading — order flow specifically: reading the order book and the tape, order flow imbalance, absorption, iceberg orders, and the regulatory line between legal order-flow analysis and prosecutable spoofing. Built against a peer-reviewed root mechanism rather than retail 'smart money concepts' folklore (named and disqualified explicitly, alongside unsourced iceberg-detection accuracy claims and prop-firm pass-rate marketing), with Jane Street and Renaissance Technologies named as calibration for the caliber of firm this edge matters to — not a claim that either is replicable solo, and no claim about Renaissance's actual current strategy is presented as fact anywhere it can't be verified. Six modules, ten lessons, [Established]/[Directional]/[Speculative] tagged throughout.

39 min of reading