Player values and times to sell
Hi I am new to FI so still getting used to the format and times to buy sell etc. One question I do have though is if I have a player that has increased in value why if I attempt to sell would I still lose money example player bought for £1.01 shares now worth £1.05 sell price 0.99p
Or am I being stupid?? 😂😂
@NewUser44287 £0.99 would be the instant sell price where you sell back to FI instantly.
If you market sell by putting them in the sell queue and they are purchased by another trader then you would receive the buy price at the time they sell but have to wait until someone else buys.
In both cases you would pay 2% commission to FI from the amount you receive.
Brane_Orsou last edited by
FI will offer you an instant sell price, so if you needed the money would could take that price and have the cash straight away. The other option is to sell to the market, the your share is bought by another trader for whatever the current buy price is at that time.
You'll still pay 2% commission though, that doesn't change.
I'm new to FI too, and this is a question I have pondered also.
What I don't get, is if I market sell, I get to set my reserve price so why cant we see a list of futures for sale that are being sold by others? It kinda makes the sell to market at a particular price non-sensical. I get the bit about selling to market, but if its down to other traders wanting the future surely you may as well set the reserve price as high as possible and wait. if you want to shift the futures fairly quickly and set the market sell at say a few pence under the current buy price, it seems to me you are not at an advantage for selling those shares lower as if someone who market sells their futures before you at a higher price will get sold before yours even though the price is higher.
Of course, I may well have missed something very obvious so feel free to leave a little on me!
The reserve price is there just to act as an abort mechanism. Say if you wanted to make a minimum profit on a player, you would set a reserve price so that if the players price fell below the value you needed to make your minimum profit then your shares get removed from the queue and you abort the sale. (without you actually having to be there to do anything) This also works to minimize a loss, say if you were ok with making a 5p loss on a player but no more then that, you would set your reserve price to what ever the applicable value would be and if the price falls so that you are losing more then 5p per share again the shares are taken out the queue.
What you describing with seeing lists of players etc will come but to do that you need FI to introduce order books, do a massive tech upgrade and get a spot of help from NASDAQ to make it all run smoothly. This is the direction that FI are going in, but it will take some time to implement.
But basically at the moment there are only 2 prices you can sell at the current price (whatever that is, at the time when you are at the front of the queue and the next person buys your player) or the Instant sell Price which will make you a loss in most cases and at best will stunt your profit on the player, therefore should only be a LAST RESORT.
You are correct in that yeah you are at a disadvantage as someone could sell their shares at a higher price then yours, but that's just how queues work. No different to waiting in line to but a ticket only to be told when you get to the front that all tickets have been sold, it sucks but its just one of those things. Hence why FI want to move in a different direction with order books etc. But the reason this happens is mainly because while your queuing up waiting to get the best price you can, some other guy is Instant selling causing the players rice to crash, hence why the earlier you can get in the queue the better.