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Question about order execution

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Question about order execution

dashed-slug.net Forums Exchange extension support Question about order execution

Viewing 7 posts - 1 through 7 (of 7 total)
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  • #10189
    LeinAd
    Participant

    hey Alex

    i dont know if this is a bug but following happen:

    on market is an offer: 10 BTC for 100$ (only examle!!!)
    Ask: 100$ Size 10BTC and user have 1000$

    when he click buy max, he got the 10BTC for 1000$ ..

    know how i mean?

    I have this in a situation with doge / naca
    User wrote me: so I had 476 Dogecoin to buy NashCash for voting, I hit max button to buy as much NashCash as I could, it said I was supposed to get like 2,300 nashcash but I ended up with just 21 nashcash and 196 dogecoin left in my wallet

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    #10191
    alexg
    Keymaster

    Hello,

    I have tested the situation you describe with USD_BTC on my end and the exchange appears to function correctly.

    In your example, user A has placed an ask order for 10 BTC at a price of $10, with a total order amount of $100.

    User B has $1000 in their balance. The current USD_BTC price is $10. User B clicks on the “max” button in the limit buy form, and then clicks on “limit buy btc”. Α bid order is placed on the orderbook for 100BTC at the same price, i.e. for a total of $1000. The order from user A is filled. User B gives $100 to user A. User A gives 10 BTC to user B. The orderbook now has an unfilled bid order for 90 BTC at a price of $10, for a total of $900.

    To inspect the orderbook, see the shortcodes: [wallets_exchange_bids] and [wallets_exchange_asks].

    Please check a couple of things:

    1. Is it possible that, when creating the markets, you mixed up the base and the quote currencies?

    https://www.investopedia.com/terms/q/quotecurrency.asp
    https://www.investopedia.com/terms/b/basecurrency.asp

    The ordering is different from that of most exchanges, for historical reasons that are hard to change right now. “Buy” means buy the quote currency by paying its value in the base currency, and “Sell” means sell the quote currency and get its value in the base currency.

    So let me know if you are certain that you’ve set the base and quote coins correctly. I tested with a “USD_BTC” market.

    2. Additionally, I see that you are using modified templates. What other code is modified? What version is your copy of the exchange based on? The latest version is 1.3.7.

    I can try to help, but it’s very hard to provide support without knowing what was modified (See FAQ under “I want to do changes to the plugin’s code.”)

    3. Is it possible for you to test if this occurs with the unmodified exchange 1.3.7?

    with regards

    #10194
    LeinAd
    Participant

    Hi ,
    i only copied and modified two pages you see at the voting page and yes i use 1.3.7

    this is an other thing what user says me:

    it says the total doge price is 196 but then if you actually click buy it says I need 6800 doge for the order

    i will take a closer look to this

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    #10202
    alexg
    Keymaster

    When you get a chance to test with the unmodified exchange, focus on the following:

    1. Did you place a limit order or market order? Market orders will not execute unless the entire order can be matched against existing open limit orders.

    2. Check the orderbook after placing the order. Also check the user history. Click the refresh button to make sure the data is fresh.

    Hope this helps.

    with regards

    #10225
    LeinAd
    Participant

    I come back to this issue. So on the attatched pic maybe you can better see. I do a market sell : one nace for 0.00006 NIMB, after pressing “sell” it execute the offer at 0.000009 (the lowest price on bid side)

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    #10227
    LeinAd
    Participant

    ok i see whats going on .. but it irritates a lot of user

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    #10234
    alexg
    Keymaster

    Hello,

    Thank you for the additional details. This is a lot clearer.

    As you pointed out, this is expected behavior:

    A “market sell” order sells against the most favorable buy orders on the orderbook (for more information see here: https://www.investopedia.com/terms/m/marketorder.asp). The price field that you’ve set is for limit orders, but it is not used because you issued a market order.

    In the UIs that come with the exchange this would be apparent. But with these modified UI templates, it is not apparent that the price is only for limit orders and not for market orders. This is because the two UIs are joined into one (market sell and limit sell).

    I think you should aim to redesign the UI, so that your users are not confused. It should somehow be clear from the UI, that the “price” field is for limit orders only, and that market orders are not related to the price field.

    with regards

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