Each order placed into a VALR order book can be modified for price and/or quantity.
How to edit active orders?
Orders placed on VALR can be viewed in the open orders tab on the exchange screen. Each order can be edited by clicking the blue pen next to the relevant field.
Clicking on the edit button will bring up a model that allows for Price, Total Amount and/or Remaining Amount to be edited, depending on which field is selected for modification.
Modifying the total amount has a proportional impact on the remaining amount. For example, if the Total Amount field of an order to buy 2 ETH is reduced to 1.5 ETH, the remaining quantity is also reduced by the difference between the original Amount and the new Total Amount, which in this example would be a 0.5 ETH reduction.
Note: modifying the remaining amount resets the filled amount field to 0 in all instances.
Impact on price-time priority
Modifying an order may impact its priority in the order book. If there are multiple orders at a single price, they are filled on a first-in-first-out basis. Editing an order’s quantity will lose priority in the queue if the quantity is increased, otherwise, the order will maintain its priority, i.e. when the quantity is decreased.
Editing the price of an order will always results in an order taking last place in the queue when price is modified.