Limit buy

[CaramelloCream]

Goodmorning everyone. I bought L$ by the Limit Buy and it was written that the estimated time for completion was 4 days. I bought them on the 5th, which was Friday but haven't arrived yet. Are orders processed on working days, therefore without counting Saturday and Sunday? And then I wanted to ask another thing, in the space for the exchange rate what numbers should I put in? I tried to do some tests and I put 1000L $/1U$ and I saw that I paid less but obviously I have to wait a little longer. Should it be done or not?

[Rolig Loon]

Nobody is ever going to sell you L$1000 for one dollar.  Not when they can sell them for a four times that price.  Your offer will still be there years from now, or until some sucker comes along.  Remember that the LindeX is an exchange. You are buying and selling L$ with other SL residents.  It's like an auction.

Scroll down the page in the LindeX and look at the current offering prices to see what other residents consider reasonable today. The popular price has hovered around L$250/ $1 for several years now, so that's where you will see the largest volume of orders.  When you are buying, look for the price where the largest number of orders are outstanding and then set your own offer just a little higher than that.  So, if the high volume were at L$250 / $1, offer to buy L$249 for that dollar instead.  A seller will be getting just a little more by selling to you than by selling to someone who wants L$250.  The higher you set your offer, the more likely it is that someone will accept it quickly.

For now, go back into the LindeX and select the Manage LindeX option.  Look for your LindeX order history and find the order that is still open.  Cancel it and then back out to start over again.

Edited April 10, 2019 by Rolig Loon

[CaramelloCream]

13 minutes ago, Rolig Loon said:

Nobody is ever going to sell you L$1000 for one dollar.  Not when they can sell them for a four times that price.  Your offer will still be there years from now, or until some sucker comes along.  Remember that the LindeX is an exchange. You are buying and selling L$ with other SL residents.  It's like an auction.

Scroll down the page in the LindeX and look at the current offering prices to see what other residents consider reasonable today. The popular price has hovered around L$250/ $1 for several years now, so that's where you will see the largest volume of orders.  When you are buying, look for the price where the largest number of orders are outstanding and then set your own offer just a little higher than that.  So, if the high volume were at L$250 / $1, offer to buy L$249 for that dollar instead.  A seller will be getting just a little more by selling to you than by selling to someone who wants L$250.  The higher you set your offer, the more likely it is that someone will accept it quickly.

For now, go back into the LindeX and select the Manage LindeX option.  Look for your LindeX order history and find the order that is still open.  Cancel it and then back out to start over again.

Thanks for the reply! Since I had practically understood nothing of this, I first asked here lol. Now I begin to understand a little more. Thanks again!

[Lindal Kidd]

One other point to add to Rolig's excellent answer:  The "estimated" time for an order to be filled can be, and often is, wildly wrong.  I never pay the slightest attention to it.  Rolig's method is a much better indicator of how long, or even whether, your limit order will be filled.

[CaramelloCream]

On 4/10/2019 at 3:59 PM, Lindal Kidd said:

One other point to add to Rolig's excellent answer:  The "estimated" time for an order to be filled can be, and often is, wildly wrong.  I never pay the slightest attention to it.  Rolig's method is a much better indicator of how long, or even whether, your limit order will be filled.

Yes and indeed her method worked very well! Thank you all 😊