For traders

Trading

How an order actually reaches an exchange, why nothing routes through a Pairlens server, and where to go for each kind of market.

Updated 22 AUG 20263 min readEdit on GitHub ↗

What happens when you press Buy

You fill in an order. Your machine checks it against your own risk limits, signs it with a key stored on your device, and sends it to the exchange. The exchange matches it against somebody else’s order and tells you what you got.

That is the whole path. No Pairlens server sees the order, no Pairlens fee is added, and nothing sits between you and the venue that could delay or alter it. Your funds stay wherever they already are: on the exchange, or in your own wallet.

Before your first real order

Three things, in this order:

  1. Connect an exchange in paper mode first.
  2. Set your risk guardrails. A daily loss cap and a position cap take two minutes and are the difference between a bad trade and a bad month.
  3. Place a practice order and watch what happens to it. Learn where the fill shows up, where the position shows up, and how to close it.

In this section

And then, per market type:

The golden rule

Every order is checked against your guardrails before it leaves your machine. That is true whether you typed it, a workflow fired it, a bot generated it, or the AI assistant proposed it.

The assistant can analyse, warn and propose. It cannot raise your limits, and it cannot place a live order you did not approve.

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