In the Trade Guild, it is possible to use trade orders - orders to buy goods or to place goods for sale.
Working with trade orders
The use of orders can greatly simplify the trading process. For example, if you create an order to buy a product, then you do not need to constantly monitor the prices in the sales rooms to have time to buy the right product at the right price. The order will do everything automatically according to the conditions you set.
If you use a put order, you can achieve higher profits by automatically putting the product on sale at a higher price than the current market price when it rises. If the price does not go up, you can cancel the order that has not yet triggered, without losing the commission for placing the item, as it would be with the direct creation of the lot.
Thus, orders are convenient for pending trading when you want to get more profits.
You can view a list of your clone's orders by clicking on the "Trade Orders" link and then selecting "Buy" or "Place". There you can also create or cancel an order. Once an order has been created, its parameters cannot be edited - you can only delete the order. Note that each of your clones has its own list of orders.
You can find a list of all orders of all your clones under the "My Orders" link. There you can also delete or copy the desired order.
Orders created by all players form a queue. Orders in the queue are executed starting from the first one, if its parameters meet the price of the commodity on the exchange, and then on down the list. If your order is not the first in the order queue, that is, it is preceded by orders of other players whose conditions satisfy the situation in the exchange, your order will be triggered only after all these orders are triggered.
Orders on the Commodity and Stock Exchanges are in perpetuity. On the Currency Exchange, orders that are not fully triggered within 30 days of creation are automatically deleted.
A purchase order is used for the pending purchase of a commodity at a certain price, not exceeding the price specified in the order.
When creating a buy order, you must specify three parameters, similar to how it is done for a normal buy:
- Product Name.
- The amount of product to be purchased.
- The maximum price for redemption (per unit), in gold coins.
At the moment the order is created, an amount of gold coins equal to the full cost of redeeming the item on the order is reserved from your account (amount = quantity X price) (the "Reserved" column in the order list). This reserve will be spent on the redemption process. If you delete the order, this reserve (or the remainder of the reserve for partial redemption that has already occurred) will be returned to your account.
A fully executed order (for which the entire specified volume of goods was redeemed) is highlighted pink in the list of orders and remains in the list for information, until you delete it.
Two conditions must be met for a buy order to be triggered:
-The minimum current price for this type of commodity must not be greater than the price you specified when you created the order. -The order must be the first (by time of creation) in the queue among all pending orders to buy this product, which satisfies the given price.
The purchase is made at a price no higher than that specified in the warrant. Redemption at a lower price than in the warrant is also possible if these two conditions are met. In this case, the difference in gold is returned to your account. Example: You want to buy 100 units of wood, but not more expensive than 0.021. Then you put an order with the parameters: the number of 100 units and the price of 0.021. You will be able to buy wood even at the price of 0.0205, 0.0203, etc. (if the product at this price will be available on the exchange at the time of triggering the order).
Redemption of goods may occur in portions, depending on their availability on the exchange - until the entire ordered volume of goods will be redeemed.
Order to put the goods for sale
The order to place a lot at a trade at a specified price, provided that the current minimum price for this type of commodity has risen to a specified value. The triggering of such an order is the placing of a lot (product) for sale, but not its sale.
When you create an order to place a product, you must specify four parameters:
- Product Name.
- Quantity of goods.
- The price per unit at which it will be billed.
- The minimum current price of the commodity on the exchange, at the increase to which the order will be triggered and the commodity will be put up for sale.
When an order is created, a commission is reserved from your account for a product at a specified price and quantity, and a specified quantity of product is reserved from your inventory. The commission is reserved in the amount stipulated by the rules of the trading platform.
If you delete an unexecuted order, all reserves will be returned (commission - to your account, goods - to inventory). When the order is triggered, the reserves will be used to create a lot and pay the commission for placing the lot. The executed order is highlighted pink in the clone order list and remains in it only for informational purposes.
If you cancel an order that has already been executed, neither the commission nor the goods are returned - they have already been used to create the lot. If necessary, you can cancel the lot created in the appropriate section of the exchange (if you cancel the lot commission is not refunded, according to the rules of the trading platform).
Two conditions must be met for your order to trigger:
- The minimum price for this type of commodity must not be less than the price you specified when you created the order (parameter "minimum price on the exchange").
- Your order must be the first (by time of creation) in the queue among all the pending orders for this product, which satisfies this price.
If someone else's order was triggered before your order, as a result of which the minimum price has fallen again, it is considered that the conditions on the exchange no longer match the conditions of your order. To trigger it, the price must rise again to the value specified in your order.
Exposing goods in portions is not provided, triggers the entire order at once.