Confused by market order, please help

[bytemaster]

Also, what are the Margin orders? How do they relate? I cant see any way to buy/sell them.

Can anyone answer this? I wish I could but I don't know myself.

Margin orders will execute automatically when the highest bid falls below the call price and is within 10% of the 24h moving average.

[jakub]

Also, what are the Margin orders? How do they relate? I cant see any way to buy/sell them.

Can anyone answer this? I wish I could but I don't know myself.

[puppies]

Maybe i'm doing something wrong.. I cant even get the simplest market order working.

I have some BTSX, I go to BitUSD/BTSX market and say short BitUSD.. I click on the highest bid price and put in a low qty like 1 BitUSD.

The GUI comes back with a red error box in the top right corner saying something about order price < max bid price or something, then my order disappears.

What am I doing wrong?

Also, what are the Margin orders? How do they relate? I cant see any way to buy/sell them.

There is a 1 hour moving average that limits the price swings of the shorts. 

The limiting algorithm is   average price * 10 / 9... average price gets updated every time a trade occurs...  this limits new shorts, but strait up USD vs BTSX can trade at any price.   This is a birthing problem... working to increase the average price.

The margin orders are short orders that others have created, organized by the price at which their margin will be called.

[bernard]

Maybe i'm doing something wrong.. I cant even get the simplest market order working.

I have some BTSX, I go to BitUSD/BTSX market and say short BitUSD.. I click on the highest bid price and put in a low qty like 1 BitUSD.

The GUI comes back with a red error box in the top right corner saying something about order price < max bid price or something, then my order disappears.

What am I doing wrong?

Also, what are the Margin orders? How do they relate? I cant see any way to buy/sell them.

[bytemaster]

Short USD Wallet   BTSX -> Short Order
Sell BTSX Wallet BTSX -> Ask Order

On Match:

Short Order BTSX -> Cover Order
Ask BTSX -> Cover Order
Cover Order USD -> Ask Owner

On Cover:
Wallet USD -> Cover Order
Cover Order Collateral XTS -> Wallet XTS

The transaction history in your account shows how funds are flowing.

[patrickb323]

I have the same confusion.   I do some test shorts and try to figure out what is happening but it not clear in the UI.

when is the collateral taken? 

[profitofthegods]

Oh, sorry, so the system doesn't automatically sell the USD for you when you short? I was told by someone that it did. So can someone explain to me how this thing is actually supposed to work please.

[profitofthegods]

I've just been playing with the new functionality making small test orders, and I am quite confused how it actually works.

I started off by shorting USD.

I couldn't see this left as an open position anywhere with information about collatoral and margin requirement, but I had thought the idea was I then needed to buy USD to cancel out this 'loan', so I bought the same amount of USD. But those USD were just added to my balance - so what happened to the loan? Do I still need to repay USD at some point, and if so when?