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Author Topic: Sell order behavior  (Read 347 times)
bitcoinrocks
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March 16, 2014, 03:59:36 PM
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If there are a few existing buy orders in the $1 range and I place a sell order in the $.90 range, will my coins be bought for $1?  Someone was talking about how they put too many zeros in their sell order which caused them to sell coins for very cheap, but I would think their order would have been fulfilled by buy orders around the going price.

Maybe it depends on the exchange?
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Rannasha
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March 16, 2014, 04:03:45 PM
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If there are a few existing buy orders in the $1 range and I place a sell order in the $.90 range, will my coins be bought for $1?  Someone was talking about how they put too many zeros in their sell order which caused them to sell coins for very cheap, but I would think their order would have been fulfilled by buy orders around the going price.

Maybe it depends on the exchange?

It does depend on the exchange, but almost all exchanges will execute the trade at the price that was first put on the books. In your example, that is $1. So setting the price too low shouldn't cause massive losses (unless you're selling a lot and there is very little buy volume).
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