Beginner
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Covered in this level
You will study quotes, the bid-ask spread, inventory risk and the role market makers play in providing liquidity.
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Suited to
This level is for learners who want to know who market makers are and how they make money.
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What you will be able to apply
After this level, you will be able to explain what a market maker does, describe how the spread pays for liquidity, and see why they are not simply trading against you.