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Enable Time Limits on Orders

This would be particularly helpful when placing limit orders on contracts that expire soon, like, "Will so-and-so announce by June 30th?" These contracts decay in price, and if I place a "yes" order and forget about it, it will be picked off. If I could place a time limit, I can quit worrying about it.


13 people like this idea

Totally agreed.


2 people like this

great idea, especially critical given these markets all have a specific end dates.  If you want to clear out orders before the release of specific information or announcement it is helpful to have this feature.


4 people like this

This is a very nice idea


1 person likes this
Good idea.
I got halfway through writing a suggestion along these lines, so rather than cluttering the forum history with redundant posts, let me paste in my thoughts:

"I traded on Intrade, which allowed you to specify the "time in force" that a buy or sell order would have.  I believe the array of options were something like:  immediate fill or kill, 12 hours, 24 hours, good until cancelled, or good until (specify custom date and time).  This was helpful when you knew you didn't want your buy/sell order out there like a sitting duck when you knew some big event/news would likely come along that put you at a disadvantage against a trader coming in who had the advantage of breaking news.

Having traded here about a week, it seems like PredictIt has your orders disappear after about 48 hours.  This can be nice, but more often runs against what you would like.  I suppose the site is trying to keep the interface as simple as possible, but maybe just 2 or 3 options (1 hour, 24 hours, indefinite) would be workable and not be confusing to a new user?"

 


1 person likes this

Thanks for the feedback on order types. The development team will certainly review this message and give it consideration. At this time, PredictIt does not automatically cancel any offers made by traders unless their offers reach a point where they exceed available funds. Except in this instance, all offers are good until cancelled by the user or until that market expires.


1 person likes this

Hi - is there any update to this?


1 person likes this

Agreed. What's going on?

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