I like the ME



  • I've decided I like the ME, I wasn't sure to begin as most of us were bidding very cheaply and picking up bargains(bad if your selling). Buying cheaply is easy at the moment with the market still a little shaky after all the disruption this season, As things settle down and all the leagues are up and running the prices will stabilize and the ME will come into its own. I think buying very cheaply will not happen so often and prices will be fairer because we will start to outbid each other for the player we want. I already did it this morning, I had some divs so decided to spend them on Hakimi....the best bid price was Β£2.60, as he's a player I like a lot I bid Β£2.65(still cheap and would bid more) and this is how with the ME we the traders will end up setting the prices. I think this will end up very fair and will reflect a players value but sadly the absolute bargains we can pick up at the moment probably won't last beyond this summer.



  • @NewUser550313

    The introduction of sell orders (where sellers can specify their price) will be a game changer, full order books where both buyers & sellers interact to set a fair market price will be a great step forwards. There will still be some problems with market depth & some more illiquid players, which is why FI should not be allowed to walk away entirely from their responsibility to provide IS and act as market makers but setting a true market equilibrium price for players is an overwhelmingly good thing for everyone IMHO.



  • I think it's amazing. I can sell 75 shares of a player for LESS than I can sell 74 shares. So some prick is getting 1 Retsos and 40p cash from me for nothing if I'm not religiously checking every bid I accept.

    Market makers seem to have a pretty sweet deal by looks of it... πŸ€” πŸ‘€

    Huge rip off this new system and most people won't even be checking what they pay/receive

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  • @Vespasian32
    That’s a weird one, I understand the price per share dropping if lower bids deeper in the queue, but I don’t understand the total value dropping when selling one extra share?! Was there any gap between when you checked or not? Only thing I can think of is the mix of bids changing whilst you were checking?



  • @wolves86 it's repeatable. 0_1591689592851_Screenshot_20200609-085024.png

    Check time stamp



  • Another one...

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  • @Vespasian32 that's mad and clearly not how it's supposed to work. I'd argue it's not an issue with the ME theory, but a tech issue. Even so, one that needs to be corrected.

    I'd still rather FI sort out some of these irritating tech points before they start complicating things further, so I'm hoping they leave full OBs until the new season and let's get what we've got 100% reliable.

    Good spot, I'd definitely have not noticed that.



  • When I'm selling I check what 1 sells for, then 10, then 100 and then 300.
    Don't actually complete the sell transaction, just find the optimum I can sell for the price I'm happiest with before selling.



  • @NewUser550313 Someone has outbid me o Hakimi...2.67 ...shows that ME is working.



  • @Dronny-Gaz yeh exactly what I was doing when I found these errors lol. Some of the offers are acceptable within the top 300...but loads will be selling not realising there are, essentially, negative offers in the mix. Yeh you might get 25p for 100 and just 15p for the rest so it's optimal to trade smaller batches unless you just want money now.... But no one would suspect for a minute you'd receive less total money in hand by selling more shares!



  • @Vespasian32 They should work on an average price, rather than all shares drop to the lower price.



  • @Vespasian32
    You're finding flaws in the system that can be manipulated, where there really shouldn't be.

    Congrats on the win last night.
    I looked down and saw you'd scraped something!
    πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚πŸ˜‚



  • @Dronny-Gaz lol you pipped me again

    Someone else stealing money on the sly here

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    Glad their IT tests are as robust as ever



  • I'm selling and changing the share amount to get the optimum price, sometimes you lose it as it takes too long, some of the jumps between one share are remarkable, this will remain and until they launch the full product.
    It feels like we are in limbo until they complete the product.



  • @Vespasian32 if they are doing this god knows what else might be wrong. The fact that 3 times I have had to get my portfolio manually sorted out because I have bought players and they haven't appeared into my portfolio. Shocking in my opinion.



  • @Tom7471 yes imagine you already own a high, random number of shares and are buying in volume frequently.. I. E. 11,783 shares and you've bid 287 at a low price.. But this is one bid of 10 you put in.... Are you really checking;

    That you receive all the shares you successfully bid on?

    That the price you paid for them is correct?

    Commission on the transaction was correct (as seller)?

    That the port valuation is correct? And the new average buy price (not that it matters to most) is correct?

    I doubt many do... You expect this to be 100% reliable... Its the cornerstones of the platform.



  • @Vespasian32 exactly, I never checked before but I am doing now. I can't believe these things keep happening.



  • @Vespasian32
    I wonder if there is some bug that in a circumstance it enables you to put in a negative bid and that’s what is causing it?!



  • @wolves86 in my view its either:

    Seriously poor tech.. Where theyve scripted the calculations incorrectly (this is what I do for a living so can imagine the kind of sloppy code they can write)

    Or more worryingly.... They themselves, or 'market makers' are allowed to slip in to profit from 'raking' shares. This would be highly illegal and I can't imagine its this one....



  • @Vespasian32 said in I like the ME:

    They themselves, or 'market makers' are allowed to slip in to profit from 'raking' shares. This would be highly illegal and I can't imagine its this one.

    Cock up over conspiracy everytime would be my guess; FI can & will often f*** up the simplest of tasks but this is exclusively due to incompetence/unprofessionalism not malice. I have had missing futures manually replaced several times, with no fuss but as you point out neither have the time nor inclination to check every bid &/or transaction to double check it's correct everytime. I'm banking on my overall savings on the price paid will far outweigh any losses through reconciliation omission.

    Hopefully these are just teething problems for a new system & will be permanently corrected going forward & eventually a forensic analysis of past transactions will identify any errors that have slipped through unnoticed & reinstate any omissions but not holding my breath on the latter!


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