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What is the order confirmation procedure?

  • Answered
    • haasbot
    2407
    asked 7 months ago

    Answer:

    The order confirmation procedure exists out of 3 big parts. The first is the so called native order tracking. This system works by checking the order identification number in the open order list. The is a proven method of order tracing.

    The second method is analyzing the open order book, this system only works if limit orders are used. By reading the orderbook we can trace the buy or sell price and find the related order.

    The last method is our last safety at the same time. Each trade bot checks the wallet to see if there are enough coins to trade. If the coins are not present then trading is blocked. Most of the time this system can trace open orders, but this method depends on the amount of coins inside the wallet so it is not a reliable method for order tracing.

    As last check there is an order engine check. The order engine runs separate from the trade bots and it designed to do the last and final check before an order is sent to the exchange. This method is also based on the wallet, so it analyses the wallet contents and if there are enough coins then it will execute the order via API. If not then the order engine can block the order.

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