Author Topic: So I clicked the "cover" button...  (Read 3849 times)

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Offline bitmeat

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Cover transfers USD from your account to the MARGIN position canceling out some or all of the USD owed.  If the USD owed goes to 0, then the BTSX is transferred back to your account.

No market operations occur during a manual cover.

Thank you! That makes sesne. So you manually purchase, then cover it.

I noticed in the UI that after I select an amount to cover it becomes the amount shown in the margin, even though that's not the correct total I have.

Offline bytemaster

Cover transfers USD from your account to the MARGIN position canceling out some or all of the USD owed.  If the USD owed goes to 0, then the BTSX is transferred back to your account.

No market operations occur during a manual cover.
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Offline bitmeat

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BUMP.

What does the COVER do? Does it execute at market prices? Or does it cover at the margin?

Can one put a limit cover order?!?

Offline G1ng3rBr34dM4n

This may be a dumb question, but I have a feeling that other people are probably in the same boat.

I clicked the green cover button under open orders; result: It appears I now have more btsx..

Questions:
What did I do? (with regards to market mechanics)
Are there any negative effects I should expect in the future?
"Green" button means "press here", right?
What do I need to know about margin orders?

I'm working to further my understanding of margin calls and could use a good overview / ELI5