Reserve price sales
Anyone had issues with this?
I sold a number of futures today below the reserve price, where I should have made money or had futures returned to my portfolio I've actually lost money.
yes, it happened with bale. reserve didn't kick in
Yeah it doesn't work properly
I've taken Football Index up on this before.
Bare with me because you'll probably think its as stupid as I do, but this is apparently how they implement it.
The reserve price ONLY applies to the first future. So say you queue 50 futures and set a reserve of £3.50
If someone buys 1 of your 50 queued futures, leaving you with 49 left in the queue, then your reserve price is consequently met and thus does not apply to the other 49 futures still in the queue. The remaining 49 futures can therefore fall in value whilst still being in the queue below your reserve price and consequently be purchased by another trader.
I've argued this with them a few times. Makes no logical sense to me.