Two trading networks based on the transaction data of a stock and its warrant in China’s financial market are constructed to analyze the market information implied by the microstructure of trading networks and the influence of diversity of trading behaviors on immediate price. The trading networks contain nearly one million traders. At a given significance level，the paper eliminates most of the noise traders，constructs the“core”trading network，and finds the noise traders have greater impact on immediate prices. By analyzing the microstructure of the trading networks and identifying 30 network positions in the triadic motifs，the diversity of trading behavior is calculated by the frequency at which the trader appears at the network position. The traders with larger diversity of trading behaviors have a more sensitive impact on immediate prices. The microstructure of trading network provides a new perspective for studying trader behaviors and price behaviors.