How does Sell work on Exchanges? | Bitcointalksearch.org

clickerz

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Quote from: pooya87 on April 22, 2017, 11:06:54 PM

lets say the buy orderbook looks like this:

Buy orders (bids)
price....volume
100......2000
90........3000
80.........100
70........6000

if you have 10,000 coins to sell you either have to place an order at price=100 and volume=10,000 or you have to sell it to these open orders meaning
sell vol=2000 @price=100 (8000 coins left)
sell vol=3000 @price=90 (5000 coins left)
sell vol=100 @price=80 (4900 coins left)
sell vol=4900 @price=70 (0 coins left)
and make (2000*100 + 3000*90 + 100*80 + 4900*70) satoshi for example.

in the platform or even through API you don't need to make each single order, just sell 10000 @70 and it automatically fills these 4 orders.

I think this is already a clear explanation. All the higher price will be served first until it reach the lower price you set. (if it can each it). If there are still coins left to sell, it will automatically posted to the SELL Order at your set price.

Labumi

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Wow, really amazing. Basically the usual spot trading is done by those who do have the skill in the trade. one thing you have to do is buy when price is low and sell when prices are high, in other words. When you buy a in price 80 and when it's selling price is 75. Then you should at least wait for the selling price is 85. Because when you buy when the price is 80, then you sell when the price of purchase then it automatically to your benefit. It all depends on how you want to look for profits

romero121

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Vave.com - Crypto Casino

Quote from: pcoin on April 23, 2017, 04:09:51 AM

Quote from: justone123 on April 22, 2017, 03:17:16 PM

I am not sure how exactly does the exchange work.

If there are buy orders at let's say 100, 90, 80 and 70. Sum of all orders till 70 is let's say 3Bitcoins and i want to sell my coin for 3 Bitcoin worth.

If i make an sell order for my coins at a price of 70, will i sell all of my coins at 70, or will it be sold for first buy order at 100, for second at 90, for third at 80 and then at 70.

I am not sure exactly how does it work? Are my coins sold at price of 70 satoshi, or are they sold at the price of the highest buy order?

This can be very confusing especially if you are new in the game.
The sell price quote displays various rates at which each sellers are willing to sell there coin and it will automatically place your sell order on queue to be filled but the most confusing part is the buy order quote that could get your order filled instantly if you quote above the current buyer order; it will buy the current price quote and move to the next buy order.

It is very complicated process to explain. Just hold a little amount of Satoshiin your exchange account and experiment it. In a short you'll understand it in a better way people describing it to you. It is same that the buying and selling difference profits you.

pcoin

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Activity: 364

Merit: 250

Quote from: justone123 on April 22, 2017, 03:17:16 PM

I am not sure how exactly does the exchange work.

If there are buy orders at let's say 100, 90, 80 and 70. Sum of all orders till 70 is let's say 3Bitcoins and i want to sell my coin for 3 Bitcoin worth.

If i make an sell order for my coins at a price of 70, will i sell all of my coins at 70, or will it be sold for first buy order at 100, for second at 90, for third at 80 and then at 70.

I am not sure exactly how does it work? Are my coins sold at price of 70 satoshi, or are they sold at the price of the highest buy order?

This can be very confusing especially if you are new in the game.
The sell price quote displays various rates at which each sellers are willing to sell there coin and it will automatically place your sell order on queue to be filled but the most confusing part is the buy order quote that could get your order filled instantly if you quote above the current buyer order; it will buy the current price quote and move to the next buy order.

shamzblueworld

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Activity: 714

Merit: 500

Quote from: justone123 on April 22, 2017, 03:17:16 PM

I am not sure how exactly does the exchange work.

If there are buy orders at let's say 100, 90, 80 and 70. Sum of all orders till 70 is let's say 3Bitcoins and i want to sell my coin for 3 Bitcoin worth.

If i make an sell order for my coins at a price of 70, will i sell all of my coins at 70, or will it be sold for first buy order at 100, for second at 90, for third at 80 and then at 70.

I am not sure exactly how does it work? Are my coins sold at price of 70 satoshi, or are they sold at the price of the highest buy order?

It gets sold to the highest buy order, so if you're selling at 70, first the amount will go to the buy order of 100, if the your bitcoin amount is greater than of the amount bought at 100, then the next in line at 90 will get the remaining coin and so on.
I hope you get the idea and now understand how it works.

pooya87

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Merit: 10611

lets say the buy orderbook looks like this:

Buy orders (bids)
price....volume
100......2000
90........3000
80.........100
70........6000

if you have 10,000 coins to sell you either have to place an order at price=100 and volume=10,000 or you have to sell it to these open orders meaning
sell vol=2000 @price=100 (8000 coins left)
sell vol=3000 @price=90 (5000 coins left)
sell vol=100 @price=80 (4900 coins left)
sell vol=4900 @price=70 (0 coins left)
and make (2000*100 + 3000*90 + 100*80 + 4900*70) satoshi for example.

in the platform or even through API you don't need to make each single order, just sell 10000 @70 and it automatically fills these 4 orders.

giveen

hero member

Activity: 826

Merit: 1004

No it's not like that. If you have 3 btc and the current lowest buy order is 100$ but you are selling for 90$ it will be sold at the lowest buy order which is 100$. But let's say you sell for 120$ and currently lowest buy order is at 120$ so you will have to wait for the lowest buy order to reach 120$ or sometimes people may just buy your coins even though lowest is at 100$.

erikalui

legendary

Activity: 2632

Merit: 1094

All your coins won't be sold at the price you set as it depends on how many buyers have set a rate similar to your selling rate. Sometimes orders get sold to more than 1 buyer and the price they are sold at is 70 in your case as you have set a price for your sell order as 70. They won't get sold at 100 even if the market rate is the same. Mostly in big exchanges, all your coins get sold in seconds the moment the buy orders reach that rate (your selling rate).

mindrust

legendary

Activity: 3276

Merit: 2442

They will be sold at the highest buy order no matter what price you tagged them with as long as its lower than the buy orders, you will get the highest buy order. If you set your sell price higher than the highest buy order, you will wait for the markets to climb up to your asking price.

justone123

sr. member

Activity: 810

Merit: 258

I am not sure how exactly does the exchange work.

If there are buy orders at let's say 100, 90, 80 and 70. Sum of all orders till 70 is let's say 3Bitcoins and i want to sell my coin for 3 Bitcoin worth.

If i make an sell order for my coins at a price of 70, will i sell all of my coins at 70, or will it be sold for first buy order at 100, for second at 90, for third at 80 and then at 70.

I am not sure exactly how does it work? Are my coins sold at price of 70 satoshi, or are they sold at the price of the highest buy order?

Topic: How does Sell work on Exchanges? (Read 467 times)