Deep Quant Flow Series 02 Retail Flow: The Cheapest Signal in Modern Markets

Why free trading was never free, and why your order is worth more than your opinion

Most retail traders believe they are trading the market.

They are not.

They are entering a routing system.

Before a retail order becomes a print, it becomes something else: a routing object, a spread opportunity, a toxicity estimate, an inventory input, a hedge problem, a br…