Question: OPEN ORDERS
I’ve noticed that when I buy tokens that some sit in open orders and most don’t. what determines the length of time for the order to go through completely?
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Question: OPEN ORDERS
I’ve noticed that when I buy tokens that some sit in open orders and most don’t. what determines the length of time for the order to go through completely?
I don't know but it depends on how much I want the tokens. If I don't care because I want the best price I can get, I just put some lower level buy orders. If they don't fill, I just take it as moving it into the next best opportunity.
Thanks @jfang003 - getting the point of view of different investors is always helpful.
It's the market that decides, so I always "give a little back to the market" by buying at a slightly higher price than the lowest offer price that is quoted when you set up your order. That usually oils the wheels of the transaction.
Thanks @hirohurl - hope all is well 🙏🏼
It's really a matter of demand. Some orders never get executed because there is no demand to buy or sell a token. A solution is to accept a certain loss and buy the market, meaning that you buy the lowest sell order or sell the highest buy order.
And if you don't do anything does the swap.hive revert back to one's account or do we have to cancel the order after waiting out a few days? Thank you for answering by the way.
I think that the orders cancel themselves automatically after about 1 month. Otherwise you need to cancel them manually.
Thanks again @achim03
When I wanna buy, I pick the second highest sell order price...This makes sure I can get my orders filled, given there is enough being sold...
Or I just go to the price where I see enough sell orders and use that too.
Same here. If I want to buy a good amount of a low volume coin, the first couple of sell orders may be for small amounts, and less than what I need. So I go down one and look at the next price point and number sold.
WOW, ok @jongolson thanks for that tip.
Excellent I will try that on my next buy :-)
Great question I also have a few ctp orders just floating around the blockchain
@mba2020 I received some informative responses already 👍🏽
Wow that is awesome!!