Yep, I clearly understand how to limit orders works in ideal case. My question was about unusual case which can be handled ambiguously..
What do you mean? Can you elaborate on the time you got the unusual case as you have said? Unless there is some glitch or bad connection on your end, you might see the old price and think the price hasn't hit @19100 yet. I traded and saw a fair share amount of time where my orders were behind the price I saw on the order list like that. Especially on exchanges with poor connection and server-side lagging. Or when the market is packed with traders trading left and right, things easily go haywire. 
Topic: Limit order higher or lower than spread in opposite side? (Read 131 times)
Yep, I clearly understand how to limit orders works in ideal case. My question was about unusual case which can be handled ambiguously..
Just use one of the trustworthy exchanges like Binance, OKX, Huobi global or any other and you are good to trade without any technical error or shady means an exchange can use to scam you. Limit order is what it is defined as and not any other thing, it works as it is explained. This is money, it had to work like that if an exchange wants to maintain good reputation. But things can be different on shady exchanges, avoid such exchanges. Limit order works perfectly as expected. 
Yep, I clearly understand how to limit orders works in ideal case. My question was about unusual case which can be handled ambiguously..
Maybe you might want to rephrase your query on what you want to understand. I have some experience in trading(well, not so much like 15 years, but I could help if I see something) and I could assist you to decipher what's going on. If you have screenshots or video, don't hesitate to share them, they can be helpful.
Yep, I clearly understand how to limit orders works in ideal case. My question was about unusual case which can be handled ambiguously..
In this case I got 1 BTC and i'll pay for 19100 USDT. The seller whose order I paid will receive 19000 USDT.
Where is 19100 -19000 = 100 USDT ? This is exchange profit or I wrong and exchange will not allow you to place such order?
Where is 19100 -19000 = 100 USDT ? This is exchange profit or I wrong and exchange will not allow you to place such order?
Exchanges has nothing to do with you money than the transaction fee that is deducted. You set bitcoin order limit to fill at $19100, once the price of bitcoin got to $19100 or higher is only when the order would be filled. People that set the price of bitcoin to sell at $19100 are the ones that you will buy from as the order filled automatically.
I don't know if I understood your question well, but an ASK (sell limit order) can never be lower than a bid (buy limit order). If your buy limit order happens to be higher than the sell limit order, your sell order gets executed at market price as you set it up. That means you will buy the BTC at 19,000. Sell takes 19,000. You remain with 100 in your account minus the trading fees.
That is also true, if he set order limit to a higher price, the order would be filled immediately at the market order price. I explained if the price is at lower price above for him to understand more about how limit order works. For example, someone set ask BTC/USDT limit offer to sell 1 BTC for 19000 USDT. In same time i setup limit order to buy 1 BTC, for example, by 19100 USDT..
In this case I got 1 BTC and i'll pay for 19100 USDT. The seller whose order I paid will receive 19000 USDT.
Where is 19100 -19000 = 100 USDT ? This is exchange profit or I wrong and exchange will not allow you to place such order?
In this case I got 1 BTC and i'll pay for 19100 USDT. The seller whose order I paid will receive 19000 USDT.
Where is 19100 -19000 = 100 USDT ? This is exchange profit or I wrong and exchange will not allow you to place such order?
Exchange matching engine operates on the first come first serve basis. So If someone come and place sell order of 1 BTC for 19000 USDT and there is no one that offers to buy at this price or higher than this order, unfilled, land in orderbook waiting to be filled. And now when you place buy order of 1 BTC at a price 19100 USDT your order goes to matching engine that check in orderbook if any seller is offering this price or lower. In our case there is a 19 000$ sell order which is being filled. So in situation you just described you just bought BTC for 19 000 even though your buy offer had price of 19 100. This 100$ stays at your wallet only because 19 000$ sell order was send to exchange before your order.
the exchange will not take your excess money other than the specified transaction fee. so in fact you will still buy BTC at a rate of $19000 if the highest bid is that price.
most exchanges get their adjustments. You can view your trading history to check it. but I don't know which exchange you are using. there could be a problem with your exchange if you use an exchange without a good reputation.
most exchanges get their adjustments. You can view your trading history to check it. but I don't know which exchange you are using. there could be a problem with your exchange if you use an exchange without a good reputation.
A similar case happened to me before I saw the last order of the trade which was traded at 0.18$ per token, which was the lowest bid as of that time I was buying the same amount of tokens that the seller placed, but i made a mistake and placed higher up to 0.2$ each the trade immediately execute without leaving me my balance.
what I think is there is always a price which is exactly what one place on the exchange and the exchange matches it automatically if any buyer/seller places his or her trade to that amount. the same thing can happen to any exchange unless there is a limit set that won't allow the buy price to be greater than the current sell order.
what I think is there is always a price which is exactly what one place on the exchange and the exchange matches it automatically if any buyer/seller places his or her trade to that amount. the same thing can happen to any exchange unless there is a limit set that won't allow the buy price to be greater than the current sell order.
Most exchanges automatically adjust and it'll depend on what your quote was in as to how much you'd get.
If you limit bought 1btc at 19100 and the current ask was 19000 then you'd get 1btc and spend 19000. If, however, you spent 19100 on a limit order at 19100 with the same ask as above, you'd get ~1.0052 btc.
If you limit bought 1btc at 19100 and the current ask was 19000 then you'd get 1btc and spend 19000. If, however, you spent 19100 on a limit order at 19100 with the same ask as above, you'd get ~1.0052 btc.
You misunderstood the limit order where do you trade?
If you set a limit order sample buy order it must be a lower price on the current BTC price sample current price is $19100 and if you want to buy BTC at a low price like buy an order under $19000 it would only trigger if it touches to $19000.
Or if you set a buy order higher than the current price then it will automatically trade to the current price which is $19100 vice-versa in a sell order you must set it to a higher price or above $19100 if you set it to lower it will automatically be triggered and sell it to the current price.
Most exchanges only take a trading fee of around 0.1% it's not the same as what you are trying to explain above.
If you set a limit order sample buy order it must be a lower price on the current BTC price sample current price is $19100 and if you want to buy BTC at a low price like buy an order under $19000 it would only trigger if it touches to $19000.
Or if you set a buy order higher than the current price then it will automatically trade to the current price which is $19100 vice-versa in a sell order you must set it to a higher price or above $19100 if you set it to lower it will automatically be triggered and sell it to the current price.
Most exchanges only take a trading fee of around 0.1% it's not the same as what you are trying to explain above.
Theoretically, the exchange only earns from such trades through trading fees
I don't know if I understood your question well, but an ASK (sell limit order) can never be lower than a bid (buy limit order). If your buy limit order happens to be higher than the sell limit order, your sell order gets executed at market price as you set it up. That means you will buy the BTC at 19,000. Sell takes 19,000. You remain with 100 in your account minus the trading fees.
I don't know if I understood your question well, but an ASK (sell limit order) can never be lower than a bid (buy limit order). If your buy limit order happens to be higher than the sell limit order, your sell order gets executed at market price as you set it up. That means you will buy the BTC at 19,000. Sell takes 19,000. You remain with 100 in your account minus the trading fees.
For example, someone set ask BTC/USDT limit offer to sell 1 BTC for 19000 USDT. In same time i setup limit order to buy 1 BTC, for example, by 19100 USDT..
In this case I got 1 BTC and i'll pay for 19100 USDT. The seller whose order I paid will receive 19000 USDT.
Where is 19100 -19000 = 100 USDT ? This is exchange profit or I wrong and exchange will not allow you to place such order?
In this case I got 1 BTC and i'll pay for 19100 USDT. The seller whose order I paid will receive 19000 USDT.
Where is 19100 -19000 = 100 USDT ? This is exchange profit or I wrong and exchange will not allow you to place such order?
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