Sell Order Cancellation Fee

I suggest a fee of 20 % (payable in L$) if a sell order is cancelled.

see also Post #7:

2.0

I suggest a fee of 20/10/5 % (payable in L$) if a sell order is cancelled within 12/24/48 hours.

No thanks. And why? Why pay for a transaction that hasn't occurred? What is your reason for suggesting this?

This would set a price to manipulating the Lindex which is totally free at the moment.

as much as I would hate that, I am looking at the market data right now, and watching 2 million that was sitting for sale at 325 get moved to 327. Who is doing this and why? If people want to move money fast, they can sell immediately. after doing some calculations on the decreased vale of the L$, I only had to raise my prices by 100-200 dollars. its not that much. well I guess if you look at it as a 5% price increase you can think of it as you will.

No, I'm afraid it wouldn't. It would simply penalise everyone that trades on the Lindex. What about cancelling an order do you believe aids manipulation?

There are costs to selling on the Lindex, 3.5% when you sell. It doesn't exactly encourage speculation. If you haven't sold, and you cancel a transaction, how have you influenced the market?

Also: there is no evidence that anyone is manipulating the market, that's an assumption, and I'm not sure really based on what. All I see is people competing on price.

Why? Because there is 2 million sitting at that price, that's why it moved to 327. If you join the back of that queue, you will sell maybe but not instantly, and if it moves higher you won't, and if you've only got say $30k to sell, and you put it at 326, it'll be swallowed up in minutes. Supply exceeds demand, so people have to compete on price to sell their L$ quickly. Charge a huge fee for cancellations, and I think you'd see them get even more competitive. You'd price it somewhere where you could ensure you wouldn't have to cancel and repost higher!

I suggest a fee of 20/10/5 % (payable in L$) if a sell order is cancelled within 12/24/48 hours.

You never traded on a stock or forex exchange, do you?

U Socialist........ Trying to Control Free Markets to bend to your view of
what should be....

Did somebody say forex? I recommend Oanda http://www.oanda.com/

What is the risk, except you might have to sell at a price you never intended to sell for?