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Author Topic: Sick of having to input sell orders each time the price changes  (Read 959 times)
MrAnderson
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August 14, 2011, 11:23:32 AM
 #1

Is this the nature of the game or?

I'm sick of being ousted because the price changes every 30 seconds, making it difficult to sell ALL the BTC at once. You have to re-enter a sell order each time.


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Jack of Diamonds
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August 14, 2011, 11:55:36 AM
 #2

Agreed, without a bot it is very annoying, same thing with buy orders.

Mt. Gox should at least let us define a threshold which we are willing to be flexible within
(for example: Buy order = all BTC within $13.252 to $13.331, or Sell order = all BTC within $ 12.521 to $12.445)

If you are buying or selling a lot I think it will matter more that you get the bulk of the order done quickly
rather than every little fraction of a cent of the original order price.

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NothinG
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August 14, 2011, 12:34:49 PM
 #3

This makes a lot of sense. I don't trade yet or use Mt Gox but I am baffled to hear that this is not already a feature.
If you think about where they are coming from...It's scary as shit to run a site that transfer so much money.
Making the slightest changes would most likely keep them awake for a few days.

NothinG
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August 14, 2011, 12:44:32 PM
 #4

One could, hypothetically speaking, setup smaller orders.
Like instead of 300 coins at 10.5USD
You could do...
100 @ 10.25
100 @ 10.40
100 @ 10.5

TTBit
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August 14, 2011, 01:08:52 PM
 #5

Is this the nature of the game or?

I'm sick of being ousted because the price changes every 30 seconds, making it difficult to sell ALL the BTC at once. You have to re-enter a sell order each time.



How do you get ousted? Can't you just sell into the market?

If you need to sell 50 and the market is 10.10 for 10, 10.05 for 20 and 10.00 for 20, you can sell 50 @ 10 and get an avg price of 10.04.

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Kermee
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August 15, 2011, 02:41:44 AM
 #6

Put your entire sell order at $0.01 per BTC...

Cheers,
Kermee

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August 15, 2011, 04:13:39 AM
 #7

Makes sense, though. Implement a VWAP style automatism and be good with it. Upper and lower limit, VWAP for the individual order and finished.
MrAnderson
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August 15, 2011, 04:27:26 AM
 #8

Is this the nature of the game or?

I'm sick of being ousted because the price changes every 30 seconds, making it difficult to sell ALL the BTC at once. You have to re-enter a sell order each time.



How do you get ousted? Can't you just sell into the market?

If you need to sell 50 and the market is 10.10 for 10, 10.05 for 20 and 10.00 for 20, you can sell 50 @ 10 and get an avg price of 10.04.

I sell more than 100 at a time and the price changes move when I'm asleep.

>>> 1BcfL1QAZsxtpd92YYsbvDyih45mwA9xSo << Willing to endure the cringe-worthy Australian stereotypes for donations.

I'll wrestle a crocodile, show you my knife, throw shrimp on the BBQ, F**k your wife. Tongue
MrAnderson
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August 15, 2011, 09:01:46 AM
 #9

I was *under* the impression that once you put an order in 50BTC @ 10.5 that it was locked-in until sold.


>>> 1BcfL1QAZsxtpd92YYsbvDyih45mwA9xSo << Willing to endure the cringe-worthy Australian stereotypes for donations.

I'll wrestle a crocodile, show you my knife, throw shrimp on the BBQ, F**k your wife. Tongue
Fireball
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August 15, 2011, 09:37:31 AM
 #10

I was *under* the impression that once you put an order in 50BTC @ 10.5 that it was locked-in until sold.

It's called a limit-order. You limit the price to an exact value, and until the order is fully executed (e.g. one or many buyers buy 50BTC from you by 10.5) it's gonna remain in the system. At least that's how spot-trading on real exchanges work.

If there is much liquidity, it's possible for an exchange to execute market-orders, which would just fullfill as much existing buy orders as you specified. The price may be significanly worse for you in this case (obviously).

Margin trading platform OrderBook.net (ICBIT): https://orderbook.net
Follow us in Twitter: https://twitter.com/orderbooknet
kjj
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August 16, 2011, 05:17:01 PM
 #11

Is this the nature of the game or?

I'm sick of being ousted because the price changes every 30 seconds, making it difficult to sell ALL the BTC at once. You have to re-enter a sell order each time.

Just put in the least per coin that you are willing to take. 

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Valalvax
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August 17, 2011, 05:30:18 PM
 #12

Umm... you don't have to keep moving your price, if you really want to sell all 100, or 1000, or 10000 bitcoins at once, then set your price accordingly... eg: right now if you wanted to sell 10k right now, you'd set your price around 10.41
MrAnderson
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August 26, 2011, 02:28:19 PM
 #13

Umm... you don't have to keep moving your price, if you really want to sell all 100, or 1000, or 10000 bitcoins at once, then set your price accordingly... eg: right now if you wanted to sell 10k right now, you'd set your price around 10.41
Yes actually, several f**king times to get them sold. The price changed that much...

>>> 1BcfL1QAZsxtpd92YYsbvDyih45mwA9xSo << Willing to endure the cringe-worthy Australian stereotypes for donations.

I'll wrestle a crocodile, show you my knife, throw shrimp on the BBQ, F**k your wife. Tongue
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