Managing Open Orders
Managing Open Orders: Cancelling and Modifying
This page explains how to manage your open orders on Zeitgeist – orders that have been placed but have not yet been fully executed. This primarily applies to limit orders, as market orders are typically executed immediately.
What is an Open Order?
An open order is an order that is waiting to be filled. On Zeitgeist, this usually means a limit order that you've placed, but the market price hasn't yet reached your specified limit price. A partially filled market order can also temporarily be considered "open" if the entire order couldn't be filled immediately.
Finding Your Open Orders:
You can typically find a list of your open orders in the following places:
Your Portfolio Page: A section of your Zeitgeist profile or portfolio page will likely display your open orders.
The Narrative Details Page: The specific Narrative Details page for the narrative you placed the order on might show your open orders related to that narrative.
A Dedicated "Orders" Page (if available): Some platforms have a separate page dedicated to managing all your orders (open, filled, cancelled, etc.).
(Screenshot: Show where users can find their open orders on the Zeitgeist interface.)
Cancelling an Open Order:
You can cancel an open limit order at any time before it's filled (or partially filled). Here's how:
Locate the Open Order: Find the open order you want to cancel (using one of the methods described above).
Click the "Cancel" Button: There will usually be a "Cancel" button (or an "X" icon) associated with each open order.
(Screenshot: Show the "Cancel" button next to an open order.)
Wallet Approval: Your Solana wallet will prompt you to approve the cancellation. This is a separate transaction on the blockchain and will require a small gas fee.
(Screenshot: Show the wallet approval screen for cancelling an order.)
Confirmation: Once you approve the cancellation, the order will be removed from the order book, and the funds (or shares) associated with the order will be returned to your available balance.
Modifying an Open Order (Limited Availability):
Modifying an open order (e.g., changing the limit price or the number of shares) is typically not directly supported in many decentralized exchanges, including those using DLMMs. The standard practice is to cancel the existing order and place a new order with the desired parameters.
Why Modification is Often Not Supported:
Complexity: Modifying an order on-chain can be complex to implement, especially within a DLMM system.
Gas Costs: Modifying an order would likely require multiple on-chain transactions, increasing gas costs.
Fairness: Allowing modifications could potentially create opportunities for market manipulation.
Best Practice: Cancel and Replace:
If you need to change the parameters of an open limit order, the recommended approach is:
Cancel the existing order.
Place a new limit order with the desired price and quantity.
This is functionally equivalent to modifying the order, but it's simpler, more transparent, and less prone to errors.
Partially Filled Orders:
If a market order or limit order is partially filled, the remaining unfilled portion will remain open. You can cancel the remaining portion of the order using the same process described above.
By understanding how to manage your open orders, you can maintain flexibility and control over your trading activity on Zeitgeist.
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