How exchanges work

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Topic: How exchanges work (Read 891 times)

oddity (OP)

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How exchanges work

June 21, 2011, 04:19:03 AM

Hey all,
I'm very new to trading anything so maybe this is a dumb question but:

If an exchange lists the current highest bid price as $10 and I enter a new sell order for $9 will the transaction go through at $10 or $9?

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byronbb

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Re: How exchanges work

June 21, 2011, 04:28:35 AM

$10. Its also about liquidity, or how much is available to be bought at a certain price. Say you wanted to sell 1000BTC at no lower than $9. On the exchange there are bids for $10 but only 500BTC worth. There is 200 BID at $9.5 and 1000 at $9. Your Sell of 1000BTC at $9 executes a sell at $9, $9.5 and $10.

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oddity (OP)

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Re: How exchanges work

June 21, 2011, 06:24:11 AM

thanks!

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