When a strategy places an order to buy/sell a particular asset, the order gets placed as a market order on the selected exchange.
Because we always place a market order, ideally, the order should get matched instantaneously. There are only 2 specific scenarios in which the order will get cancelled which are:
- The order book was so illiquid that we could not find any matching orders to be filled up
- The order book had a list of orders, but placing the market order would move the average market price by more than 2%
This is a special feature incorporated in the Mudrex platform to prevent large losses while making automated trades.
In case a user's order gets cancelled, the strategy will still keep looking out for future events to buy/sell.
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