Written by a former HFT COO and FX broker CEO, this newsletter explains how trading actually works in practice, covering payment for order flow, forex broker execution models and the effect of trading costs on strategy returns. Issues combine personal industry anecdotes with historical sources, citations and a downloadable demo strategy.

A trading blog that uses market data to test technical analysis claims and explain market behavior such as breadth and volatility. Readers get quantified, skeptical analysis aimed at active traders, with room left for discretionary judgment.

A London-based newsletter by an industry observer covering hedge funds, proprietary trading firms and financial market infrastructure, including trading firm economics, electronic credit trading platforms and M&A. Readers get analytical commentary on how the plumbing of trading markets is changing.

A weekly crypto market research note covering Bitcoin price levels, ETF and stablecoin flows, leverage, market breadth and seasonality. It lays out a explicit base case with key support and resistance levels and updates it as the data changes.