Well, thread title says it:
i am trying to cancel an order but the system don't let me do it, plus price is swinging a lot and i can't understand a thing.. it is a very mess right now, all because of this bitcoincash pump and dump
any other experienced the same? i don't know if the system has already take my actions in account and they are going to be executed anyway or not ...
terrible terrible situation..
I know programming. Programming a trading engine is as simple as ABC, just simple accounting. An honest implementation (which it should be) is to allow immediate cancellation of order. This is very easy to accomplish.
You match orders from a pool of buyers and seller sequentially. Orders to cancel is monitored at another thread. As long as an order is not the orders in the current price matching - and order cancellation should be immediate. Our current processors are very powerful and there is not need to delay any order cancellation.
They lock your order in order to do sure-win arbitrage when they need time to confirm their arbitrage order.
I think there are a few complains about Kraken. Don't trust them.
This guy knows nothing of programming an exchange engine. You realize how many connections and trades happen a second due to trade bots and API's and other day traders.
Yes! You are correct that I don't know how to implement a complete trading engine without help from others. I have zero knowledge about network programming - like TCP etc; but I know how to program the engine concerning matching orders, cut-loss orders,etc.. these are common sense accounting things which any programmer can do - you could do things honestly or dishonestly.
OK. There is such a thing call DDoS - denial-of-service attacks; so when many people want to log on at the same time, users cannot get through their orders.
1) I know engines can be programmed to cheat.
2) I know that if a person is logged on properly, if he can immediately get a market order done immediately, but cannot delete an order immediately, there is cheating (if the delay is unreasonable).
3) that you can implement stop loss orders where stops would be activated at the exact stop price - not a bit more nor less.
This is what I know.