What does 'gdax post only cannot place order' mean in the context of cryptocurrency trading?

3 answers

• Ruby ZhongFeb 26, 2024 · 2 years ago
  When you see the message 'gdax post only cannot place order' in cryptocurrency trading, it means that you can only post orders and they will not be executed immediately. This is a feature provided by the GDAX exchange, where you can place limit orders that will only be added to the order book and not matched with existing orders. This can be useful when you want to control the price at which your order is executed. So, if you see this message, it means that you need to specify the price at which you want your order to be executed, and it will not be filled immediately at the current market price.
  603

  302
• Mostafa BozaraziDec 18, 2024 · a year ago
  Ah, the 'gdax post only cannot place order' message! It simply means that you can only post orders on GDAX and they won't be executed right away. So, if you want your order to be filled immediately, this is not the option for you. But if you want to set a specific price at which your order should be executed, then this feature comes in handy. Just make sure to specify the price when placing your order, and it will be added to the order book for potential matching with other orders.
  486

  162
• Joshua JohnsonSep 27, 2024 · a year ago
  When you encounter the 'gdax post only cannot place order' message in cryptocurrency trading, it means that you can only post orders on GDAX and they won't be executed instantly. This is a restriction imposed by the exchange to allow users to place limit orders, which are added to the order book but not immediately matched with existing orders. This gives you more control over the price at which your order is executed. So, if you want to specify a specific price for your order, you can use this feature. Just keep in mind that your order won't be filled immediately at the current market price.
  599

  150