Market sell warning


  • Banned

    This is not a negative post. I am making no judgement. For those in market sell queue it is a warning. For those looking to buy it is an opportunity.
    I am posting because there is some discrepancy about what will happen to market sell orders tomorrow with no reserve price.
    The information is not confirmed, live chat said he thinks I am right but is looking to confirm, he is unable to give a time frame for this confirmation.

    I believe, if someone has a player listed for market sell, with NO reserve price, that price will match at whatever the highest bid is, no matter how low it is.
    For example, I have Pogba in market sell queue and his value is £7.07. There is no reserve. As soon as market re-opens, someone sticks in a cheeky bid of £5 (as an example of the lowest possible bid, I haven't done the maths) and Pogba would sell for £5.

    What this would mean is, someone could put in low bids as soon as market opens and mop up the sell queue in seconds.

    Live chat said this...
    (07:10:56 PM) Mr Black: Hi. Can you clarify what will happen with market orders tomorrow please
    (07:13:50 PM) Mr Black: So, I have Pogba, listed to market sell, and his current price is £7.07 with no reserve price. If i leave him on the market and assuming I am at the front of the queue, and the ONLY person who wants him bids £5, will he sell to them for £5?
    (07:14:18 PM) *** Andrew joined the chat ***
    (07:14:31 PM) Andrew : Hi Thanks for contacting customer support.
    (07:14:56 PM) Mr Black: hi
    (07:15:10 PM) Andrew : Let me take a look at your query.
    (07:16:58 PM) Andrew : If you have set no reserve price i would say yes but I would need to double check. I am not sure they will be allowed to bid as low as £5 though as they are trying to tighten the spreads.
    (07:18:13 PM) Mr Black: but in theory, someone could bid as low as the system allows, and that price would then go through on the market sell? so a big player (or lots of little ones) could big minimum amounts on every player and all sell queues would clear very quickly at that low amount?
    (07:18:48 PM) Mr Black: could you double check please and do you mind me posting the answer on the forums, as this is quite critical, and the opposite of how some people are thinking it would work
    (07:19:40 PM) Andrew : Yes I will raise it for you and get an answer for you.

    Again, others on social media think I am wrong. What are your thoughts?



  • @MrWh1te said in Market sell warning:

    Excellent post my man. Might have just saved my bacon.


  • Banned

    @Dan-The-Man I might be wrong, I am taking no blame!
    I am being told I am wrong.

    But in my head, it makes total sense.



  • @MrWh1te said in Market sell warning:

    @Dan-The-Man I might be wrong, I am taking no blame!
    I am being told I am wrong.

    But in my head, it makes total sense.

    Who's telling you that you are wrong?



  • @MrWh1te Makes perfect sense to me. Hadn't thought of it that way. I don't have anyone in the sell queue, nor any cash balance to take advantage of. Gonna be an interesting few days on the dex that's for sure!!


  • Banned

    @Dan-The-Man
    People on other social media.

    I decided posting here and on twitter and opening myself to ridicule if I am wrong, is better than not posting and seeing people get shafted if I am right.
    I still have a lot of friends on FI, I would hate for them to get caught out.



  • Dont think you're right on this one, I know what you're saying but essentially your shares can only be bought via the 'buy now' method.

    If people offer shares at low amounts then yes the buy now price will drop, but one that offer has been matched then the price will jump back to what it is now and buy now purchases will come from the sales queue until is cleared or undercut again



  • @MrWh1te thanks for the heads up, I hadn't considerer this at all



  • @Ddr said in Market sell warning:

    Dont think you're right on this one, I know what you're saying but essentially your shares can only be bought via the 'buy now' method.

    If people offer shares at low amounts then yes the buy now price will drop, but one that offer has been matched then the price will jump back to what it is now and buy now purchases will come from the sales queue until is cleared or undercut again

    I think his point is... once it's matched, you're player is no longer yours anymore... So the low ball offer is automatically accepted.

    Will be interesting to see if there are folk on here mentioning it tomorrow.



  • Bids take precedence over the queue though, you'd only get stung this way if there was no bids. I think this is unlikely as FI will want a stable market.



  • @Dan-The-Man but it wont be matched at a lower price though, the lowest it can be matched at is if someone buys now at market buy price



  • Didn't the info last week not say that all shares in the sell queue will just return to your portfolio tomorrow or is that from 1st October?



  • @Stevo on the 1st the queue will be dissolved and any unsold shares will be returned


  • Banned

    @Highfields96
    I am thinking specifically at 2pm when it comes back up.

    With fastest finger first putting in low bids all over and matching



  • Cheers, could be one of those things that happens. I stuck with my sell queues last night as a few were selling. Il probs cancel them tonight in case this happens



  • @Ddr said in Market sell warning:

    @Dan-The-Man but it wont be matched at a lower price though, the lowest it can be matched at is if someone buys now at market buy price

    How sure are you on that?

    I mean, I've removed them now after seeing this post so it' snot like I can change it...



  • @Westy said in Market sell warning:

    Cheers, could be one of those things that happens. I stuck with my sell queues last night as a few were selling. Il probs cancel them tonight in case this happens

    I leaned into it last night and listed just about everyone ha. This could have been a disaster for me if it was true.



  • @MrWh1te potentially, I can see what you're saying. I always planned to de-list tonight but will definitely do so now.

    Can you update this thread if you hear for definite?



  • @MrWh1te Thanks for sharing. I'd be surprised if this happens, but don't think I'd be brave enough to test it by leaving players in the queue with no reserve. I've delisted all bar two of my holds already and will probably do those tonight too.



  • @Dan-The-Man 100%

    Say a player is buy now at 1.00

    Tomorrow 300 shares are put up for sale at 85p, 90p and 95p.

    Your shares are currently worth 85p per share as this is the lowest amount someone is currently willing to sell them for

    Someone buys the 300 shares at 85p, your shares are now worth 90p

    And so on

    The only time share queues will be depleted will be when there are no sell orders underneath their price when the market reopens tomorrow.

    My reason behind this is if there are no sell orders then they have to calculate the buy now price from the current price.

    Thinking on this as well I'm not so certain that we'll definitely see a bounce on the prices on the 1st. Just have a niggling feeling, but I think it will be answered one way or another in my head tomorrow.


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