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5917153 No.5917153 [Reply] [Original]

When I set a LIMIT order, sayon binance, and 0% of it goes through.. I cancel that limit order one hour later, do I actually lose anything from that? Do I pay a fee? Is the fee percentual or fixed? I cannot find ANY information regarding that on binance

PLS HALP

>> No.5917169

no, you don't lose anything

>> No.5917174

>>5917153
No mate, it just gets cancelled.

>> No.5917212

>>5917174
>>5917169
>>5917153
Actually you still have to pay a fee every time you make an order. Canceling it doesn't refund you back those fees

>> No.5917249

>>5917212
this

>> No.5917261

>>5917212
btw this seems to be the case for binance but not kucoin
Not sure about other exchanges

>> No.5917303

Yes, it is .75 percent on Binance

>> No.5917318

>>5917212
In my order history for cancelled orders its not showing any fees brah?

>> No.5917342

just try it out, you don't lose anything..

>> No.5917381
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5917381

>>5917318
You might be retarded

>> No.5917562

>>5917153

bump

>> No.5917591
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5917591

>>5917381
hur dur there's no fees here on the VEN cancelled order unlike on the XRP completed one

>> No.5917661

Honest question:

If I’m totally cool buying the coin at the current price, any reason I shouldn’t just use a market order? It’s way fast than limits.

Talking about Binance of course.

>> No.5917701

>>5917153
OP just tested it for you, no fees for a cancelled order. People saying otherwise are just retarded or trolling

>> No.5917710
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5917710

>>5917562
>>5917591
If you put in a buy order or sell order you have to pay a fee.
Technically you don't have to pay another fee to cancel those orders but you don't get refunded for making those buy or sell orders.

Do you understand?
if you're a nervous fuck who keeps setting up buy or sell orders and cancelling them for every pump or dip you're gonna rack up fees for no reason. So OP does actually lose something from canceling orders.

>> No.5917788

>>5917661
Yes, it's dangerous. If the current price get sniped just before your order gets submitted, you're at the mercy of whatever the next order is. On low volume coins/exchanges, there are actually orders set up at massively inflated prices purely to catch retards who hit market order.

>> No.5917826

>>5917788
this.
It's probably why these shitcoins get pumped up so much now. Not only with the increase of newbies but they just buy at market order instead of trying to haggle.

>> No.5917843

>>5917661

When I first started, I used to put a limit order and wait for the price to go down and hit it. I either always missed the surge, or just bought it while it was crashing.

In crypto you are expecting a minimum of 50% to 100% gains. So if you hold out for a coin to go from 0.15 to 0.13, you might save yourself 2 cents and miss out on .85 just because you wanted 0.87 (if that goes to 1)

So basically if you think it will go up, or you want to hold, just buy. If you want to day trade a fairly stable coin, you're better off going into stocks where the price actually means something