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question about a market mechanism/situation
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Elijah Sokarad
Slate Group
#1 - 2013-05-09 14:30:23 UTC
Every so often, I see somebody post a 24-hr duration sell order at a price within 1 ISK of current buy orders. The split between buy and sell prices (excluding the 24-hr sell order) can range anywhere from 10% to 50%, so it really doesn't make sense to me.

What mechanism or situation makes this trader post a 24-hr sell order, rather than just instant selling to active buy order at essentially the same price? I'm sure there's a reason that I'm just not seeing.
Daimar Lavode
#2 - 2013-05-09 14:57:24 UTC  |  Edited by: Daimar Lavode
This is a seller being inattentive to how much stock they have vs. how much the highest buy order is asking for. Let's say that the buy order is for 5 units at 100.02 isk but I have 100 units in my hold and the next highest buy order is 100.01. If I choose to sell to the 100.02 buy order without changing the default duration from 24 hours to immediate the market will immediately pay me for 5 units and place the other 95 on the market as a sell order for 100.02.

While I will eventually receive the price I wanted, the 100.02 isk/unit, by creating a sell order I have been hit with broker fees that would not have applied if the buy order had been large enough to consume all my stock.

edit: also happens when someone ninja's the sell order before you hit sell, so it isn't always because someone is inattentive, just too lazy to change 24-hour duration to immediate.
Adunh Slavy
#3 - 2013-05-09 16:22:08 UTC  |  Edited by: Adunh Slavy
Elijah Sokarad wrote:
Every so often, I see somebody post a 24-hr duration sell order at a price within 1 ISK of current buy orders. The split between buy and sell prices (excluding the 24-hr sell order) can range anywhere from 10% to 50%, so it really doesn't make sense to me.

What mechanism or situation makes this trader post a 24-hr sell order, rather than just instant selling to active buy order at essentially the same price? I'm sure there's a reason that I'm just not seeing.



The default order is 24 hours. Also, there is a difference bwtween a simple sale and advanced. Simple will only sell to the count of the buy order. Advanced will sell to the buy order and leave the rest as a sell order.

Who ever is doing the selling, has sold with the advaned option and has not changed the default order duration. In other words, probably someone who does not do much trade and thus does not know the behaviors of the GUI.

Necessity is the plea for every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves.  - William Pitt
Illest Insurrectionist
Sparta.
#4 - 2013-05-09 17:15:56 UTC
They also could have recently cleared their preferences or have done a fresh install.

That has caught me out a few times.