Liquidity is the price you will actually get
The basics · OnlyTrade trading school
The price on the chart is where the last trade happened. Yours will happen against whatever is waiting in the book: the spread is the toll you pay to cross, and slippage is what you pay on top when your size is bigger than the queue at that price. On a liquid pair this is noise; on a thin one it can be a third of the move you were aiming for. The order book on the chart's left edge is exactly this queue, live.
About this lesson
Written by the OnlyTrade team as a general explanation of a market mechanic. It uses no live market data.
Education, not investment advice. No method or result is guaranteed, and trading can lose money. Read the Risk Disclosure.