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onis_uk (OP)
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August 07, 2011, 09:03:43 AM
Last edit: August 07, 2011, 10:21:39 AM by onis_uk
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I just used Mt.gox for the first time and i see a massive failure in its operation. i place my order before i'd transferred my money
into my account. the price of the coins tanked nearly $2 since i ordered... so i went back and cancelled my order and reordered
at the new lower price ?!?!? surely this is wrong ? why arent you "locked" into a sale at the price you agree to at the time ?
seems mad to me lol
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August 07, 2011, 09:43:52 AM
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Quote from: onis_uk on August 07, 2011, 09:03:43 AM
I just used Mt.gox for the first time and i see a massive failure in its operation. i place my order before i'd transferred my money
into my account. the price of the coins tanked nearly $2 since i ordered... so i went back and cancelled my order and reordered
at the new lower price ?!?!? surely this is wrong ? why arent you "locked" into a sale at the price you agree to at the time ?
seems mad to me lol

it takes 2 parties to make a trade.

just because you specified a price, doesn't mean anyone agreed yet to be the counterparty.
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August 07, 2011, 09:51:50 AM
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ah i see ok ! that makes a bit more sense lol
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August 07, 2011, 10:03:10 AM
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When you place an unfunded order, you are not actually placing an order. You are essentially commanding the system to place an order on your behalf when it is possible for it to do so. Since it never became possible for it to do so because you never funded the order, no order was ever placed.

Even if an order was placed, if nobody accepts it, you can still cancel it. An unaccepted offer may be rescinded at any time.
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