I'm in the same boat as you. Before I went to bed the night before the attack, I place an buy order at 12, thinking, "hey, if I wake up and it executed, great!" but I really didn't expect it to. I woke up the next day, and saw I had an email that the order was executed. I tried to log into MtGox, and it was really slow. Turns out the attack happend about 10 minutes prior to me waking up.
Anyway......
The way I read Mt Gox's current messages: "Users whose trades were effectively cancelled during the the sell-off will be able to trade for free for 1 month following the reopening...", you and I get free trades for a month, since our limit orders executed and will be cancelled by the rollback.
I have seen others asking this question.. but I have yet to see a direct response regarding the status of the open orders after the rollback.
Only that the system was rolled back to the state it was in prior to the breach... and that any orders that were executed were also rolled back.
When the system comes back.. the BTC value will be 17.51..
The only way that would be possible would be if the buy and sell orders were still present... no?
Why does the first person crucify me for asking for clarification on this fact? Yet provide no source to where he gained this info.
My current understanding is that if you want to change your standing orders you will have about 60 minutes to do so.. assuming you gain access to your account before trading resumes.
and assuming that MT.Gox isn't overloaded, and assuming that maybe the open order were also canceled maybe you won't have to worry...
As far as I know.. there has been NO STATEMENTS regarding open orders... only executed ones...
please someone .. if you have info regarding this fact,.. I need to know for sure.
I made arrangements to be available tonight to get in and fix my accounts before trading resumes... and I am still worried 60 minutes won't cut it due to system load.
All orders are getting wiped, regardless of whether they were previously filled and then rolled back.
The 17.51 value just so happens to be the amount at the time just before the flash crash. Since, in the time between when we can log in and when the market starts, we'll all be able to place orders, the value is kind of meaningless unless it happens that people make their bids and asks around that number.
If, when the market opens, the balance of orders is with offers around 14.50 and bids around 14.50, then 17.51 will be pretty much pointless as a starting price except for those 0.001 seconds between when the market opens and the queue is processed. Okay, I'm just making a logical guess that that is how it will work, especially because we won't have things like Market On Open orders and it's silly to suggest that Mt. Gox do something like
NASDAQ's opening cross.
EDIT: The above was confirmed on IRC (essentially):
magicaltux, can you enlighten us on how opening orders will be processed? I assume there will be a queue created with orders processed by time of submission and it'll almost instantly go from 17.51 to whatever the price is at which no trades can be matched.
Ooofo: yep, queue
