Author [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] [EN] [ZH] [ES] [PT] [IT] [DE] [FR] [NL] [TR] [SR] [AR] [RU] Topic: Question about Force Covering  (Read 269 times)

0 Members and 1 Guest are viewing this topic.

Offline clayop

Question about Force Covering
« on: November 25, 2014, 08:03:28 PM »

When force covering takes place, what will be the covering price? I couldn't find any clue on the forum.

Does it rely on feed price, or call price? What happens if the amount of force cover exceeds the amount of total shorts?
Bitshares Korea - http://www.bitshares.kr
Vote for me and see Korean Bitshares community grows
delegate-clayop

Offline bytemaster

Re: Question about Force Covering
« Reply #1 on: November 25, 2014, 08:11:34 PM »
When force covering takes place, what will be the covering price? I couldn't find any clue on the forum.

Does it rely on feed price, or call price? What happens if the amount of force cover exceeds the amount of total shorts?

It will use the feed price (or highest bid if there are bids higher than the feed price).   If there are not enough new shorts then your short position will remain open until a new short position is created or someone decides to sell. 
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline Shentist

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 1605
    • View Profile
    • metaexchange
  • BTS: shentist
Re: Question about Force Covering
« Reply #2 on: November 25, 2014, 08:15:42 PM »
is it correct, that the cover operation will not use owned assets?

i just experiemented with some funds and it seems it took not the available bought assets in my wallet, but covered through the feed price.
is this correct?

Offline bytemaster

Re: Question about Force Covering
« Reply #3 on: November 25, 2014, 08:20:05 PM »
is it correct, that the cover operation will not use owned assets?

i just experiemented with some funds and it seems it took not the available bought assets in my wallet, but covered through the feed price.
is this correct?

If you are Short BitUSD then cover operation will take BitUSD out of your balance and use it to cover your order.
For the latest updates checkout my blog: http://bytemaster.bitshares.org
Anything said on these forums does not constitute an intent to create a legal obligation or contract between myself and anyone else.   These are merely my opinions and I reserve the right to change them at any time.

Offline xeroc

  • Board Moderator
  • Hero Member
  • *****
  • Posts: 12065
  • ChainSquad GmbH
    • View Profile
    • ChainSquad GmbH
  • BTS: xeroc
  • GitHub: xeroc
Re: Question about Force Covering
« Reply #4 on: November 26, 2014, 07:14:55 AM »
is it correct, that the cover operation will not use owned assets?

i just experiemented with some funds and it seems it took not the available bought assets in my wallet, but covered through the feed price.
is this correct?

If you are Short BitUSD then cover operation will take BitUSD out of your balance and use it to cover your order.
Hu?! How is that? How can the blockchain determine which balance_ids belong to my account?
IIRC a force-cover will buy from the market at feed price .. while only the manual cover will take bitUSD from your account ..
Give BitShares a try! Use the http://testnet.bitshares.eu provided by http://bitshares.eu powered by ChainSquad GmbH

Offline Markus

  • Sr. Member
  • ****
  • Posts: 366
    • View Profile
Re: Question about Force Covering
« Reply #5 on: November 26, 2014, 07:36:00 AM »
is it correct, that the cover operation will not use owned assets?

i just experiemented with some funds and it seems it took not the available bought assets in my wallet, but covered through the feed price.
is this correct?

If you are Short BitUSD then cover operation will take BitUSD out of your balance and use it to cover your order.
Hu?! How is that? How can the blockchain determine which balance_ids belong to my account?
IIRC a force-cover will buy from the market at feed price .. while only the manual cover will take bitUSD from your account ..

Nobody's wrong, just confused :)
Shentist was asking about manual covering whereas the OP meant forced margin call covering.

 

Google+