What’s going on...
Hi FI Traders
As a new user as of last Friday I was told now is a great time to join with the order books and other changes.
However having gone on to the forum I saw a lot of traders annoyed at the price crash on the 10th when the market recalibrated as people taking profits which I guess is understandable but not end of the world if it’s once in a blue moon and leads to a better platform.
Now I see that there’s been another market crash and I’m down on all 15 of my players and I see some people managed to be aware of this and capitalise on it.
Very confusing if this is constantly going on especially as this platform seems to be a hybrid of an actual decent trading platform like IG and a gambling app.
No stop losses are a big issue in my opinion and the charts are pretty basic to say the least. No margin I guess has it’s pros and cons and FI aren’t regulated by the FSA and I guess some of these features would make it less fun but my initial impression when people have thousands of pounds on the line is the platform is extremely volatile but for completely random reasons out of your control.
Am I being unfair and missing something hear?
@NewUser664633 firstly welcome.
You’ve joined at an interesting time and in mine and many peoples opinion a good time.
The current volatility will settle and those that have been able to buy at these stupidly low prices will feel like the guys that where here 2 years ago do.
But as with everything in life it’s a gamble, if you can afford what you have put in to the platform then sit back and wait; if you can’t.....
@NewUser664633 I think you’re bang on mate.
@Sav2000 I hear you and I can definitely see how that could be the case. I am still in the first 7 days of trading so will get refund on the 10% I am down overall. However for traders with a lot more capital these flash crashes surely must be painful? Especially without stop losses so unless you are logging in constantly how do you know?
Without allowing Margin you can't lose/win enough to make it worth constantly having your eye on but equally it seems unfair to miss out on opportunities when volatility strikes and not be able to apply good risk management - ie basic forex most raders risk/reward ratio, lose 1 or make 3. Rinse and Repeat.
As with all gambling and trading I am only investing money I am willing to lose but not if it's something completely out of your control because the platform without notice changes the rules of the game it doesn't feel right...
I imagine traders (like myself) have spent a lot of time researching and choosing the best buys then to just have 10-30% wiped off for no reason doesn't sit well with me and I think FI should announce these things.
Gregolocky last edited by
@NewUser664633 I’d take to the refund and start again bud. No point in starting -10%
MickTurbo last edited by
Posting this here as the thread title seems ideal
Let's take Neymar.
Me and my mate hold 300 each. Hes worth a tenner. I can offer 10p each way.
I offer 990p opening up 980p for my mate. I cancel 990p and got to 970p, my mate then goes to 960p. We continue this process to maybe 920p. Now theres panic and a lemmings lists at 910p.
Mine and my mates work is done. Another lemmings offers at 900p. Me and my mate now start daring each other. I say I'm buying at 800p. My mate calls me a pussy and says 750p will soon be available.
All everybody else sees is the blue and the pink price. When we have NASDAQ, which we need fuckin yesterday, everybody else sees 100s of thousands of Neymars valued at 1000p, and 2 pillocks trying to play god. Everybody else values him at 1000p, but me and my dickhead mate are offering 800p. The light is shone behind the bare numbers and what is currently terrifying to many, becomes a comedy show.
It's like a year ago when Rafa Marquez was suddenly up 280%. Did u buy? Did u fuck. You knew that game too well. But many dont know this new game yet. It's like a mirror image of the old game that nobody fell for.
I'm not defending FI. Its poor that ppl like black wolf are having to fire fight at 2am, really poor. We need comms about NASDAQ, because there's nothing to say me and my mate wont get at the crack pipe again and bring Bruno down to £3 tonight. But if we do, just remember what I'm telling u now.
For certainty, it wasnt me 😂
@MickTurbo Haha!! Thanks mate that definitely sheds light on the current/previous issues with the platform. The platform seems to be breading a lot of panic at the moment. Maybe long term quality investments/players you are happy to leave for a season or two are key here.
I may apply the Warren Buffett school of thought; it is wise for investors to be “fearful when others are greedy, and greedy when others are fearful.” ; )
URGENT MARKET UPDATE FROM FI
While we usually refrain from providing market commentary, we feel it is important to recognise that the market experienced abnormal trading patterns late last night and through to early this morning. Our risk team has been monitoring the situation very closely.
The market is now stable. In the unlikely event that there is further high level of volatility, we won’t hesitate to temporarily suspend the market if necessary. We understand the concern this has caused. We are determining the factors that have contributed to this volatility and will communicate our findings once this has been completed.
A one-off correction as a result of freeing Offers from the restraint of the Sell Queue is not entirely unexpected, but we are still assessing exactly what took place.
We would urge Traders to take care in case of over adjusting trading strategies, and to remember that the intrinsic value of the 3 year bet driven by the 20/21 Dividend Chart remains unchanged - exactly the same as it was 48 hours ago.
The Football Index Operations team