Introduction

This terminal is a learning workspace for understanding how an order book behaves.

It is not meant to be a perfect exchange clone first. It is meant to make the moving parts of a trading system easier to read:

• the chart gives market context
• the order book shows resting liquidity
• the order form creates state changes
• recent trades show what executed
• snapshot and event log explain what changed

How to use this docs section

Use these docs like internal product documentation:

1. Read a concept page.
2. Go back to the terminal.
3. Trigger the behavior yourself.
4. Compare the visual state with what the docs described.

What to focus on first

If you are new to order books, read in this order:

1. What Is an Order Book
2. Bids and Asks
3. Spread and Mid Price
4. Limit Orders
5. Market Orders
6. Depth and Liquidity

What this app is optimizing for

This project is optimizing for **quant-dev learning**, not just pretty UI.

That means the important questions are:

• what is resting on the book?
• what just traded?
• why did the spread change?
• what happened when I submitted this order?
• what is state, and what is event history?

Those are the questions the terminal and docs should answer together.