Post
Topic
Board Exchanges
Re: And we have another Bitfinex Hookey THIEVING Short Squeeze!
by
CoolStoryBro
on 25/06/2014, 10:20:10 UTC
Someone posted that the data they have shows a whole raft of orders being executed from $600 right through to $608.13. But that doesn't change the fact that my stop loss was just a shade above $600, yet never got triggered until the very top spike of those front-run and repackaged grouped together 319 BTC orders. that took price to $608.13, the exact price where my stop orders were triggered, taking me right away from break even territory and right into the red. It was only a small trade. It would only ever have been a small trade as my trust for Bitfinex evaporated quite some time ago. This is far from being the first time I have seen this sort of shit on this exchange.

My possible explanation would be like this:

buys below market price executes on priority over stop losses (which is quite logical)

I.e. if there is sell order 30BTC at 600 and sell order 20BTC at 602 and sell orer 10BTC and 608

your stop loss for short 6BTC position placed at 601

Now someone executes buy @599 for 52BTC

he got filled on priority as 30@600+20@602 +2@608
then stop losses start being filled

say there is only one stop loss and it's yours, then you will get 6@608

and there will be 2BTC sell order left @ 608


I don't know if this correct. But that could possibly explain why your stop took place so high.
However as long as there is no price log there, it looks really strange.

Perhaps they group prices in batches, but what are the principles for this grouping?
If such grouping exists, Finex should remove it to increase transparency for their customers.