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The Order Book & How a Trade Happens
Watch buyers and sellers meet in an interactive order book.
Inside this lesson
- Explain what a limit order book is and how bids and asks are organized.
- Describe how a market order executes against resting limit orders.
- Apply price-time priority to understand which orders fill first.
- Calculate an average fill price when an order walks up multiple price levels.
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Educational content only — not financial, investment, trading, tax, or legal advice, and not an inducement to buy or sell anything. Examples and figures are illustrative, use hypothetical data, and are not predictions. Independent educational material; third-party names are used descriptively and imply no affiliation.