Frequently Asked Question

At ChainEX, we understand that mistakes can happen when placing a trade, but once a trade has been processed, it cannot be canceled. If an error has been made, the only option is to create a new trade to offset* the error. To avoid mistakes, it's important to carefully review all the details before creating a limit order. Please ensure that all required information is correct before submitting the trade to avoid any issues.

*In the context of trading, "offset" means to create a new trade in the opposite direction of the original trade, in order to cancel out or partially mitigate the impact of the mistake. This is a common practice in trading, especially when an error has been made and there is a need to correct it.

For example, if a trader accidentally bought 10 units of a cryptocurrency at a price that was too high, they might create a new trade to sell 10 units of the same cryptocurrency at a lower price, in order to offset the impact of the original mistake. By doing so, they would effectively cancel out or partially mitigate the loss that would have resulted from the original trade.