What are some common examples of 'fat finger' errors in the cryptocurrency market?

3 answers

• May EllisonSep 26, 2020 · 5 years ago
  Sure! 'Fat finger' errors in the cryptocurrency market refer to accidental mistakes made by traders when entering orders or executing trades. These errors can occur due to typographical errors or incorrect input of trade parameters. For example, a trader may accidentally enter an order to buy 1000 BTC at $10 instead of $1000, resulting in a significant price discrepancy. Such errors can cause temporary market disruptions and may lead to losses for the trader or other market participants. It's important for traders to double-check their orders and use trading platforms with built-in safeguards to prevent 'fat finger' errors.
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• Ayan AnwarDec 25, 2020 · 5 years ago
  Oh boy, 'fat finger' errors in the cryptocurrency market can be quite disastrous! Imagine accidentally entering an order to sell 100 BTC at $1 instead of $10,000. That's a huge difference! These errors can happen when traders are in a rush or not paying enough attention to the details. It's like typing too fast and hitting the wrong key. But in the cryptocurrency market, even a small mistake can have a big impact. So, it's always a good idea to take a deep breath, double-check your orders, and maybe even triple-check them, just to be safe.
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• Giannis FrantzeskakisSep 02, 2020 · 5 years ago
  BYDFi, a leading cryptocurrency exchange, has observed several instances of 'fat finger' errors in the market. Traders sometimes mistakenly enter orders with incorrect decimal places, resulting in significant price discrepancies. For example, a trader might enter an order to buy 10 BTC at $1000.00 instead of $10,000.00. These errors can cause temporary price distortions and may create opportunities for arbitrage. It's crucial for traders to be vigilant and review their orders carefully before executing them to avoid 'fat finger' errors.
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