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Cancelling Buy Orders a Bad or Good Thing?

"Hi Markco

I have a question or two. Hope you can answer them.

If you place buy an order, how long would you let it stand? You have invested money (5% in believe) for placing that order so getting it too soon will cost you money but leaving it will prevent you to use the money for other (better) markets

Same for the sell order. If you see it falling behind in the stack of orders how long would you leave it there?

Anyway, thanks for the tips this far.
Regards
Ashai"

I need to clarify some things Ashai because I'm not 100% sure if you understand all the fees associated with the trading post. First off, you only lose 5% of your item's cost when you post it for sale and then cancel. It's a 15% fee total if the item does sell. You lose NOTHING for buy orders being cancelled.

So feel free to cancel and repost buy orders at any time! Just remember whatever price is still profitable and don't go above that point.

Leaving a buy order up for a long time unfulfilled is a loss of money (that gold is tied up and doing nothing) but I never meant to imply in previous posts that you actually lost physical coin for cancelling a buy order. I hope this clarifies things for you!

Forum members.... here is a secret tip that is going to be posted on the blog 5/13/2014 at 8:00 AM (Tuesday). If you're reading this post before that date, please go to the Secret Forum Tip.

1 comments:

  1. Anonymous said...:

    I leave my buyorders open for at least 24 hours, so the time putting up all the orders isn't wasted, don't look at the people above you, just let it be.

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