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Level 15
· ◆◆◆◆ · ~12 min
Toxic Flow & VPIN
Toxic Flow & VPIN
"Not all order flow is equal. Some of it is a business; some of it is a slow bleed you will not notice until you measure it properly."
toxic flowPIN and VPINvolume clock vs wall clockrealised spread as the practical toxicity gaugeliquidity withdrawal and crisis dynamics
A short lesson, then a quiz. ❤️×3 — a wrong answer costs a heart; finish with at least one left and the level is yours. Lose all three and you'll have to try again. Replay any time — XP and cleared levels are never lost.