WEBVTT 00:00:01.300 --> 00:00:04.797 A strategy cannot observe the market directly the way you can look 00:00:04.797 --> 00:00:08.294 out a window. It receives reports. Those reports can include prices, trading 00:00:08.294 --> 00:00:11.791 activity, and information about an account or position. The app then works 00:00:11.791 --> 00:00:15.289 with the information available to it. That makes the source and age 00:00:15.289 --> 00:00:18.786 of the information part of understanding automation. A clear number on a 00:00:18.786 --> 00:00:21.700 screen is useful only when you know what it describes. 00:00:22.200 --> 00:00:25.468 Start with the market and its full pair. Bitcoin priced in U.S. 00:00:25.468 --> 00:00:28.735 dollars is not interchangeable with every other market that includes Bitcoin. The 00:00:28.735 --> 00:00:32.003 venue matters too. A public reference price, a chart, and the price 00:00:32.003 --> 00:00:35.270 available for a particular order can differ. If two numbers are different, 00:00:35.270 --> 00:00:38.538 first check the pair, source, and time. Do not assume that one 00:00:38.538 --> 00:00:41.805 number must be wrong or that the strategy will receive the price 00:00:41.805 --> 00:00:42.350 you prefer. 00:00:42.850 --> 00:00:46.324 The Paper workspace identifies its reference context. In the current demonstration, its 00:00:46.324 --> 00:00:49.799 label describes a delayed Coinbase reference. Read the delay shown in your 00:00:49.799 --> 00:00:53.273 own app rather than memorizing it as a permanent setting. Practice activity 00:00:53.273 --> 00:00:56.747 based on that context should not be compared with a current Live 00:00:56.747 --> 00:01:00.222 quote as if both described the same instant. This connects to the 00:01:00.222 --> 00:01:03.696 earlier lesson about where market information comes from: the label belongs with 00:01:03.696 --> 00:01:04.275 the number. 00:01:04.775 --> 00:01:08.545 A strategy also needs account information. It may need to know what 00:01:08.545 --> 00:01:12.315 funds are available, what is already committed, and which positions belong to 00:01:12.315 --> 00:01:16.085 the relevant strategy and connection. Remember the cash lesson: the headline balance 00:01:16.085 --> 00:01:19.856 is not always the amount available for another action. Locked funds, existing 00:01:19.856 --> 00:01:23.626 commitments, reserves, and allocation limits can change what the app can request 00:01:23.626 --> 00:01:25.825 even when a market condition looks suitable. 00:01:26.325 --> 00:01:30.167 Freshness means how recently information was updated. Where the app provides an 00:01:30.167 --> 00:01:34.009 update time, status, or warning, inspect it. A connection problem or delayed 00:01:34.009 --> 00:01:37.850 response can leave you looking at an earlier value. Information that has 00:01:37.850 --> 00:01:41.692 stopped changing is not automatically a calm market. It may be old 00:01:41.692 --> 00:01:45.534 information. A successful page load also does not prove that every data 00:01:45.534 --> 00:01:47.775 source behind every panel has just refreshed. 00:01:48.275 --> 00:01:51.741 Consider a simple example. You see a price on a chart and 00:01:51.741 --> 00:01:55.207 expect the strategy to act immediately. The account information may be different 00:01:55.207 --> 00:01:58.674 from what you remember, the strategy may be waiting for its own 00:01:58.674 --> 00:02:02.140 conditions, or a required check may not be satisfied. The chart alone 00:02:02.140 --> 00:02:05.606 cannot tell you which explanation applies. Use the available candidate, strategy, account, 00:02:05.606 --> 00:02:09.072 and status information to narrow the question instead of guessing from one 00:02:09.072 --> 00:02:09.650 visual cue. 00:02:10.150 --> 00:02:13.801 Before moving on, identify one market label, one account label, and one 00:02:13.801 --> 00:02:17.452 freshness clue in the app. If a clue is unavailable, say that 00:02:17.452 --> 00:02:21.102 you cannot confirm it from this view. That is a useful observation. 00:02:21.102 --> 00:02:24.753 The goal is not to invent confidence from missing information. It is 00:02:24.753 --> 00:02:28.404 to understand what the strategy could be observing, what you can verify, 00:02:28.404 --> 00:02:29.925 and what still needs investigation.