order and how do can one do it?
slippage is how much % you loose to price moving up or down on you when you trade. the bigger the $$ amount in, the more slippage
I don’t understand this..... so I just market buy 🤷♂️🤷♂️🤷♂️
Do limit orders protect you from this?
Slippage occurs in market buys. In uniswap etc. The slippage is set by default to something like 0.5%. If the price changes between the time of your original bid/quote, there is a slippage tolerance. If the price 'slips' outside the set amount, the swap will fail
Slippage is basically a fee you pay to enter or exit ?
Let's say you wanna buy apples from me. The price constantly changes depending on how many apples I have in stock. I can give you a quote and say 5 apples for a dollar. That price might slip and become 4 apples per dollar due to other people buying before you. Exchanges allow you to set how much price slippage you allow, to prevent you from getting a deal which is too far from the original quote. Like you would say I don't want to do the deal if the price changes more than 1%
Ahhhhhh okaaay now now I understand
No, it's the price movement against yourself that you cause by emptying the order book with your order execution.
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If the order fails to execute, do I pay gas fees regardless?
Depends on the nature of the failure, but yeah, probably risk paying some fees if there is no tolerance in your transaction
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