Some order processing option ideas for MTGox, TH, B7 and others

Jered Kenna (TradeHill)

sr. member

Activity: 420

Merit: 250

Quote from: CoinMonster on July 07, 2011, 09:47:15 AM

How about some order filling options from these drone-like sites such as tradehill, mtgox, bitcoin7, etc.? Undecided

Helpful order options concerning bid / offer prices that I'd like to see and shouldn't be too hard to program:

✪ good till canceled
✪ good till certain time (end of day, etc.)
✪ all or nothing order fill option
✪ partial order fill accepted option (if not automatically offered) <-- take notice bitcoin7!
✪ approved acceptance of selling / buying within a price range instead of at a set price (including within % of a certain price)

Make it more like my stock brokerage account, mmmk? Wink

We have of the lead developers from Interactive Brokers joining us soon! ;-)

Nagle

legendary

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Merit: 1000

The problem with an "all or nothing fill option" is that it doesn't define the limits on the current price. Such orders on the buy side will end up above the current price, waiting for enough sell orders to accumulate. Then they execute all at once, above the market. Is that what you want.

Actually, what Bitcoin needs are 1) exchanges that don't screw up, 2) exchanges that pay on time, 3) exchanges with a published set of rules, and 4) exchanges that take financial responsibility for their errors. The current situation is amateur hour.

Keyur @ Camp BX

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Activity: 299

Merit: 250

Quote from: Stephen Gornick on July 07, 2011, 06:39:28 PM

Quote from: CoinMonster on July 07, 2011, 09:47:15 AM

✪ good till certain time (end of day, etc.)
✪ all or nothing order fill option

I believe Camp BX offers these.
- http://www.campbx.com

Thank you Stephen - that is correct! I will also appreciate this thread's thought on following:

✪ good till canceled: Pseudo solution: you can use the "Expiry Date" option to set a long-term expiry date (up to 31 days), and use "cancel" option from My Trades whenever you intend to cancel the open order.

✪ all or nothing order fill option We also have Fill-Or-Kill option. It is a great tool to probe Dark Pool liquidity.

✪ partial order fill accepted option (if not automatically offered) <-- take notice bitcoin7! Need more details on this one, but is this something similar to Incremental fill option?

✪ approved acceptance of selling / buying within a price range instead of at a set price (including within % of a certain price) We have a Limit price option, where you can set one price and anything better will be automatically accepted. I don't think you would want to refuse a bigger profit by binding the range at both ends!

Bitcoin Swami

full member

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Merit: 100

I think it would be cool if they had a little dashboard kinda like etrade (i haven't used etrade in a while)

But it would show you in realtime how much cash you were making or losing on your purchase.

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Quote from: CoinMonster on July 07, 2011, 09:47:15 AM

✪ good till certain time (end of day, etc.)
✪ all or nothing order fill option

I believe Camp BX offers these.
- http://www.campbx.com

CoinMonster

newbie

Activity: 44

Merit: 0

How about some order filling options from these drone-like sites such as tradehill, mtgox, bitcoin7, etc.? Undecided

Helpful order options concerning bid / offer prices that I'd like to see and shouldn't be too hard to program:

✪ good till canceled
✪ good till certain time (end of day, etc.)
✪ all or nothing order fill option
✪ partial order fill accepted option (if not automatically offered) <-- take notice bitcoin7!
✪ approved acceptance of selling / buying within a price range instead of at a set price (including within % of a certain price)

Make it more like my stock brokerage account, mmmk? Wink

Topic: Some order processing option ideas for MTGox, TH, B7 and others (Read 1419 times)