Topic: Bitcoinica's "guaranteed liquidity" - page 2. (Read 2617 times)
They get executed at any price as soon as buying becomes possible. Therefor you have to be very careful when using market orders when the asterisk is active, but even without it you have to be very careful. As you already noted, there's a 1-4 second delay on orders executing depending on a lot of things, so you might not get the price that you want to pay. Therefor I suggest you use limit orders to make sure your prices don't pass a certain limit.
Hm. Now that I think about it (my short term memory isn't the best...) I may have placed several smaller orders in quick succession. It's a bit weird that the orderbook only shows a price for one of them, 6.841, executed at 6.6293, and the ones that got executed higher have no price listed.
Well, it may well be my fumble, but I do remember first hitting buy, then a few seconds later seeing the sell price skyrocket on the charts, and sure enough I was the proud owner of several bitcoins with a base price of over 7 USD. Can the "no reserve" situation cause market orders set at one price to execute at a higher price if they get held up? Do the orders get a price set if the bull's eye is winking, or do they simply get executed at any price as soon as buying becomes possible?
Well, it may well be my fumble, but I do remember first hitting buy, then a few seconds later seeing the sell price skyrocket on the charts, and sure enough I was the proud owner of several bitcoins with a base price of over 7 USD. Can the "no reserve" situation cause market orders set at one price to execute at a higher price if they get held up? Do the orders get a price set if the bull's eye is winking, or do they simply get executed at any price as soon as buying becomes possible?
If you leave a market order waiting during no reserve it will get filled at whatever the price is when the winking eye goes away.
Hm. Now that I think about it (my short term memory isn't the best...) I may have placed several smaller orders in quick succession. It's a bit weird that the orderbook only shows a price for one of them, 6.841, executed at 6.6293, and the ones that got executed higher have no price listed.
Well, it may well be my fumble, but I do remember first hitting buy, then a few seconds later seeing the sell price skyrocket on the charts, and sure enough I was the proud owner of several bitcoins with a base price of over 7 USD. Can the "no reserve" situation cause market orders set at one price to execute at a higher price if they get held up? Do the orders get a price set if the bull's eye is winking, or do they simply get executed at any price as soon as buying becomes possible?
Well, it may well be my fumble, but I do remember first hitting buy, then a few seconds later seeing the sell price skyrocket on the charts, and sure enough I was the proud owner of several bitcoins with a base price of over 7 USD. Can the "no reserve" situation cause market orders set at one price to execute at a higher price if they get held up? Do the orders get a price set if the bull's eye is winking, or do they simply get executed at any price as soon as buying becomes possible?
What exactly does it mean when Bitcoinica say they have 50BTC guaranteed liquidity both ways for market orders? I thought it is a way for them to guarantee you get the price quoted if you use the instant buy function, but I placed a market order around 6.8 (it was moving pretty wildly) and had it execute for values between 6.6293 and 7.1312 during that big spike. Basically I tried to catch the downspike but before the order got executed in the queue, the upspike came.
So anyway, what exactly does the guaranteed liquidity stand for?
So anyway, what exactly does the guaranteed liquidity stand for?
From http://www.bitcoinica.com/pages/faq:
How do you guarantee liquidity?
Bitcoinica is similar to a Forex brokerage. Besides accepting orders from our wonderful users, we also trade with other exchanges (primarily Mt. Gox) to balance our portfolio. So that we always have something for you to do margin trading or short selling without always being forced to bet against you. Currently we guarantee up to ฿50 of liquidity for market orders in both directions.
Not sure that explains it, but thought I'd share.
Not that it says this on the website but I think all that goes out the window when the mighty ( * ) appears.
What exactly does it mean when Bitcoinica say they have 50BTC guaranteed liquidity both ways for market orders? I thought it is a way for them to guarantee you get the price quoted if you use the instant buy function, but I placed a market order around 6.8 (it was moving pretty wildly) and had it execute for values between 6.6293 and 7.1312 during that big spike. Basically I tried to catch the downspike but before the order got executed in the queue, the upspike came.
So anyway, what exactly does the guaranteed liquidity stand for?
So anyway, what exactly does the guaranteed liquidity stand for?
From http://www.bitcoinica.com/pages/faq:
How do you guarantee liquidity?
Bitcoinica is similar to a Forex brokerage. Besides accepting orders from our wonderful users, we also trade with other exchanges (primarily Mt. Gox) to balance our portfolio. So that we always have something for you to do margin trading or short selling without always being forced to bet against you. Currently we guarantee up to ฿50 of liquidity for market orders in both directions.
Not sure that explains it, but thought I'd share.
It just means any order larger than 50 BTC gets executed in 50 BTC chunks. Each subsequent chunk may be executed at a different price, especially in a quickly moving market.
That doesn't seem to have held. My order was under that limit.
What exactly does it mean when Bitcoinica say they have 50BTC guaranteed liquidity both ways for market orders? I thought it is a way for them to guarantee you get the price quoted if you use the instant buy function, but I placed a market order around 6.8 (it was moving pretty wildly) and had it execute for values between 6.6293 and 7.1312 during that big spike. Basically I tried to catch the downspike but before the order got executed in the queue, the upspike came.
So anyway, what exactly does the guaranteed liquidity stand for?
So anyway, what exactly does the guaranteed liquidity stand for?
It just means any order larger than 50 BTC gets executed in 50 BTC chunks. Each subsequent chunk may be executed at a different price, especially in a quickly moving market.
Or maybe I should think of the obvious explanation first - it's 50 BTC combined, for all trades on Bitcoinica. Is this correct?
What exactly does it mean when Bitcoinica say they have 50BTC guaranteed liquidity both ways for market orders? I thought it is a way for them to guarantee you get the price quoted if you use the instant buy function, but I placed a market order around 6.8 (it was moving pretty wildly) and had it execute for values between 6.6293 and 7.1312 during that big spike. Basically I tried to catch the downspike but before the order got executed in the queue, the upspike came.
So anyway, what exactly does the guaranteed liquidity stand for?
So anyway, what exactly does the guaranteed liquidity stand for?
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