Question about exchanger's order book

[pooya87]

when i place a buy or sell order will i go in a Queue and have a turn for example the 10001st person
or
is it luck or any kind of other formula's involved

cause i feel like a bigger amount of trade happened and mine didn't go through yet!

for instance

if i place a sell order at 65 now does it mean that 5.1365 BTC should be bought in order for it to be my turn?

[dothebeats]

when i place a buy or sell order will i go in a Queue and have a turn for example the 10001st person
or
is it luck or any kind of other formula's involved

cause i feel like a bigger amount of trade happened and mine didn't go through yet!

for instance

if i place a sell order at 65 now does it mean that 5.1365 BTC should be bought in order for it to be my turn?

Nope. Just like a normal market, if I placed my price at 65, and another person on the other hand sells his for also 65, it's up to the buyer whose item will he/she buy. There is no luck involve in here, it's just the decision of the person buying what item and whom will he/she buys.

[Dread Pirate Roberts]

nope .another person trade like you
you will get normal earning like how much you set the price with your total coin

[champbronc2]

when i place a buy or sell order will i go in a Queue and have a turn for example the 10001st person
or
is it luck or any kind of other formula's involved

cause i feel like a bigger amount of trade happened and mine didn't go through yet!

for instance

if i place a sell order at 65 now does it mean that 5.1365 BTC should be bought in order for it to be my turn?

Yes, you are correct. If you place a sell order at 65 now, you need to wait for the other 5.1365 BTC to finish their sells too at 65.

[odolvlobo]

when i place a buy or sell order will i go in a Queue and have a turn for example the 10001st person
or
is it luck or any kind of other formula's involved
cause i feel like a bigger amount of trade happened and mine didn't go through yet!
for instance

if i place a sell order at 65 now does it mean that 5.1365 BTC should be bought in order for it to be my turn?

Yes, you are correct. If you place a sell order at 65 now, you need to wait for the other 5.1365 BTC to finish their sells too at 65.

Dread Pirate Roberts and dothebeats are confused. In your scenario, you will have to wait for the other 5.1365 BTC to be filled or canceled. If you price your ask (sell) lower or your bid (buy) higher, then you will go first. But if it is the same, then you are put in a queue at that price.

[Rannasha]

Most (if not all) exchanges will match orders first on price and then on age. If you offer a lower sell price than other orders in the book, your order will be picked first. If your price is the same as other orders, then the first order placed will be filled first. So if a large order already exists at the price you had picked, then you'll either have to wait or offer a slightly better price.

[pooya87]

@dothebeats @Dread Pirate Roberts
you didn't understand my question.

@others
thanks. when i placed the order the sum was like 3 btc and after 20 hours the whole amount of trades was more than 3 so i thought it is not by age or turn. but i think the reason for it being more that 3 was that it is both buy and sell amount in total.

[AtheistAKASaneBrain]

What I hate is exchanges that for some reason decide it's a good idea to hide most of the orders and they only show a portion of it of a small range. I want to see all orders ffs.

[dothebeats]

when i place a buy or sell order will i go in a Queue and have a turn for example the 10001st person
or
is it luck or any kind of other formula's involved
cause i feel like a bigger amount of trade happened and mine didn't go through yet!
for instance

if i place a sell order at 65 now does it mean that 5.1365 BTC should be bought in order for it to be my turn?

Yes, you are correct. If you place a sell order at 65 now, you need to wait for the other 5.1365 BTC to finish their sells too at 65.

Dread Pirate Roberts and dothebeats are confused. In your scenario, you will have to wait for the other 5.1365 BTC to be filled or canceled. If you price your ask (sell) lower or your bid (buy) higher, then you will go first. But if it is the same, then you are put in a queue at that price.

I got confused there tbh. Thanks for leading them to the correct line. I thought he's asking how the exchanges work basically. Turns out we're not in the same page. >.<

[foxkyu]

when i place a buy or sell order will i go in a Queue and have a turn for example the 10001st person
or
is it luck or any kind of other formula's involved

cause i feel like a bigger amount of trade happened and mine didn't go through yet!

for instance

if i place a sell order at 65 now does it mean that 5.1365 BTC should be bought in order for it to be my turn?

yes you're right
the principle of order book is first queue first serve

[Brewins]

What I hate is exchanges that for some reason decide it's a good idea to hide most of the orders and they only show a portion of it of a small range. I want to see all orders ffs.

you usually can do it with API, or looking at sites like Bitcoinwisdom.

Sometimes the orderbook is too big to be shown in full

[uki]

yes you're right
the principle of order book is first queue first serve

that is of course a FALSE statement.
The principle of order book is first to match the price (i.e., lower sell and higher buy first) and then the age of the order.

[Q7]

Basically if there are several sellers, all at the same price (65 sat) you will just have to wait for your turn. I'm sure the system will calculate which order are placed first. sometimes when I managed to sell, there will still be some amount left at that price which means that it is a "first come, first serve" basis.
Unless you are offering to sell at 64 sat, then it will be instant.

[Amph]

no luck, just queue position, but i don't know, if two come in exact same time, i guess they watch milliseconds or something