Tag: spreads

Cover artwork (cover.png) for the article titled Investing vs. Trading: Two Paths Through the Market.

Investing vs. Trading: Two Paths Through the Market

Investing and trading aren’t opposites so much as different relationships to time. This guide clarifies frames—from scalping to position trading—and argues that most edge is born in ranges, not headlines. Choose your horizon, respect its rules, and let discipline—not drift—set your course.

13 min read
Cover artwork (cover.png) for the article titled The Hidden Hand of the Market: Understanding Market Makers and Inventory Risk.

The Hidden Hand of the Market: Understanding Market Makers and Inventory Risk

Market makers are often described as neutral referees — silent guardians of liquidity. But neutrality is an illusion. This essay explores spreads, inventory balancing, OTC desks, adverse selection, and hedging to show how dealers shape price through vested interest. To see the hidden hand is the first step in no longer being led by it.

12 min read
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