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Author Topic: How exchanges work  (Read 804 times)
oddity
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June 21, 2011, 04:19:03 AM
 #1

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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June 21, 2011, 04:28:35 AM
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$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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June 21, 2011, 06:24:11 AM
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thanks!
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