The so-called cancellation of an order is not as simple as it sounds. Once you open a short position, the order won't be established automatically. Someone else has to open a long position and buy your short order. The order becomes effective only when both parties' contracts are settled. If no one takes it, your short order will not be established, and it won't be considered in force. Naturally, if you wish to cancel it, you may, although some transaction fees would still be payable.
"Our short order has been taken! The buyer was quick! 500,000 lots! 600,000 lots!" Another trader promptly yelled out.
