Are traders....



  • Are traders putting multiple bids at different prices on the same player?
    Effectively trying to dupe unsuspecting traders into thinking they’re getting a higher sell price than the average price.
    I suspect a lot of new traders are getting burnt by this.



  • @Gregolocky no, but it's a great idea..... 🤔😂

    Seriously, I'm not sure it can be done. It gives the average price for the 300 as far as I'm aware.



  • As I understood it if you sold 300 for argument sake you would get the average price as displayed as IS and if you sold a smaller amount you would get the highest bids that are currently placed which could be higher than displayed IS.
    Have I got that wrong?



  • @johnboywalker is this what was giving you problems? Bids at different prices?



  • @Splurger_Dan Ya when you go to IS, it’s often a higher price than was displayed on the previous page.
    But this is only for a few shares, say 20 for example but then the unsuspecting trader thinks he’s getting a deal and IS’s 100- 200 thinking he got the higher price.
    Hopefully market depth is displayed in the next Phase.



  • @Gregolocky Market depth is a must for next phase. You've highlighted an issue with the lack of depth at the minute.



  • Here's what we think @Gregolocky is meaning

    0_1591377477335_Screenshot_20200605-181707.png

    The instant sell is "presumed" at 300 shares at 55p but when I go to sell - the market depth can only sustain 224 shares at that price.

    If I sold the full 300, I'd be getting a lot less for the other 76 shares.

    Just one to keep an eye on - just needs checking before you click "instant sell"



  • I don't necessarily see this as duping? I have put in multiple bids on the same player at different prices because I want to see what will be accepted and what won't be. It is not up to bidders to make sure those trading the players are using their head before they accept.



  • @PrideofPools whilst I agree every seller should take the necessary steps to protect themselves from this, I suspect many aren’t.
    It’s really up to FI to make it much more transparent

    Edit: in hindsight shouldn’t have used the word dupe 👍🏻



  • @ChazFI123 said in Are traders....:

    @johnboywalker is this what was giving you problems? Bids at different prices?

    Not exactly.

    I was bidding at different prices simply to ensure I was successful, so say the average IS is £1.50, I would put bids in at £1.52, £1.51 and £1.50.

    The problem was, If they all got accepted, only the bids at £1.52 were appearing in my portfolio, yet the money for all three bids had been removed from my account.

    I think the OP is referring to sneaky traders putting a bid in for 1 future at a higher price and then a bid for 100 futures at a far lower price. When newbie traders see this, they assume they are selling the full amount of futures at the higher price, when they are actually only selling 1 future at the highest price, and the rest at the lower amount.

    This appears to be a problem on the app only, as the average price updates on the laptop/website and you can tell exactly what price you are getting per share.



  • It also works the other way, i keep selling my holds in small batches for the higher prices.

    I'm sure i'm not the only one.



  • @London-Is-Blue said in Are traders....:

    It also works the other way, i keep selling my holds in small batches for the higher prices.

    I'm sure i'm not the only one.

    I do this as well.

    I've been instant selling players, often 1 future at a time, just to piss off the sneaky bastards! 🤣🤣



  • @johnboywalker cheers for explaining what I was trying to say, clear as mud with me 😂👍🏻



  • @Gregolocky
    Shhhhhhh!



  • @Gregolocky said in Are traders....:

    @johnboywalker cheers for explaining what I was trying to say, clear as mud with me 😂👍🏻

    Haha no worries mate!! I appreciate your frustration.

    I regularly spend over 30 mins on the forum trying to articulate what should be a simple concept and failing miserably. 🤣🤯



  • When buying I always compare buying 1, 10, 100 and 300.
    Just to check the depth and potential price changes.



  • @johnboywalker Sorry i didn't quite understand what you were trying to say with that post.



  • @Ericali
    I might be wrong, but I don’t think it works like that. If less than 300 bids ‘IS’ is average of the number of shares bid - in this example 224. So you would not be able to sell the other 76 at this stage until more bids were placed. If sold all 224 you would receive the total averaging 55p per share. That could be made up of a range of higher and lower bids. So if you sold 112, they might be at 65p, which would leave 112 bids available at 45p.



  • I got stung by the lack of depth in the sell queue the other night after the Q&A. It was after midnight, and with the possibility of a PB review affecting TAA, I cashed out. The instant sell price was something like £9.50. So I sold the first batch of 300 and then the other. Presuming I had got the full £9.50 IS price for both batches (noob error) I was a little horrified to see the IS price was now £7.98!
    Some little swine had got a bargain with a few of the shares in the second batch 😏 you live and learn....or at least that’s what I told myself.



  • @johnboywalker LOL...Me too


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