Limit orders are a great way to get people more engaged with markets where the platform/creator hasn't added enough liquidity. They let you express far more conviction than the market liquidity might allow. I'd love to see more of them on Manifold, what's preventing you from making them?
What's a limit order? Limit orders allow traders to set a specific price at which they are willing to buy or sell shares in a market.
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I use them all the time and I kind of wish they were the default order type.
That said the times I don't want to use them is when I'm afraid of news breaking (but as pointed out below this is sometimes a feature)
How do I keep track of my limit orders? Quite a few times some news broke or I reassessed a situation and I ended up buying into my own limit orders, which I had forgotten about.
It would be nice to get a list of markets where I have exposure via limit orders. Also markets could have a little symbol, indicating I have open limit orders.
Edit: "Afraid of news breaking" is a feature for me. Whenever there is some major development in a topic of my interest, I get the news pretty early as notification for filled limit orders. Like a personalized superfast newsfeed.
@Eliza Thanks! But I can only see all individual limits. They should be grouped by markets, else the list becomes unreadably long.
@Primer I agree. This section got reworked a few weeks ago and I'm hoping there is more to come. Keep pushing!
@Primer buying into your own limits is annoying (and a little embarrassing), but ultimately harmless. At least you immediately get a notification about it and can fix it. Ask me how I know.
@Odoacre Agreed. And good to know I'm not the only one 😅 But this illustrates that some sort of indicator would be nice, highlighting markets where one has put limit orders.
I do place limit orders occasionally, maybe a few a month. They get filled maybe half the time after a week or so. I don't feel like there's a lot of friction, but it does make it a little harder to see at a glance how much exposure I have in a given market and with lots of bets on at any given time, being able to see this at a glance while scrolling down a list is important.
I guess this could be about friction, but usually just “not likely enough that they’re filled”. Not applicable in very popular markets (as long as I set it bear market price, I have a good chance of action), but most markets my concern is about the effort involved (especially if I’d only want to place the order for a day or so)
Sightly OT, but I wish it was easier to create limit orders for selling shares I have. The current process is weird because I'm always afraid I end up overshooting and buying after I sold all shares and it's weird that it requires liquidity to sell. The current solution is clearly a hack that doesn't work well.
@TheAllMemeingEye I think there's a table view, but there also seems to be some tik marks or something on the buying options in some markets?
@ArtimisFowl An answer for me: seems it's length of the tik marks, though proportions are unclear. You see limit orders when placing a relevant bet.