sl75
Posts: 2,092 
Likes: 1,245
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Post by sl75 on Jun 3, 2015 9:36:51 GMT
'optimal for any given loan' is pretty well defined - tis the best rate you could have got it at. Only if "the best rate you could have got it at" is better than other comparable opportunities you have at a similar time. Non-participation seems to be the optimal strategy for a significant proportion of loans now. Otherwise, you (or your bot) are suffering from a form of "auction fever" - keeping on bidding beyond the point where you have better alternatives.
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Post by goldservice on Jun 3, 2015 10:04:43 GMT
sl25 - how do think Autobid could be improved? One feature I'd like to see is the ability to set the maximum bid size (guess this is going off thread ... )
Edit: I meant the ability to set the maximum bid size per part
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Post by GSV3MIaC on Jun 3, 2015 10:17:25 GMT
If I'm allowed to answer too (although I've already raised most of these in another place) ..
1) More granularity about what to bid (rather than 0.5% or 1%, say "£120").
2) Allow multiple autobids (e.g. 5 * £120)
3) Allow people to turn OFF autoBUY while leaving autoBID on (i.e. no SM purchases). Or vice versa of course.
4) Get it to bid sooner.
5) Not have bids directed at unpopular auctions (ones less filled) if there is a choice... if anything it should go for the most popular ones!
Of course my top option is "dynamic bidding" - tell it to bid down to some %age value, but not to start from there.
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TitoPuente
Member of DD Central
Posts: 624
Likes: 655
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Post by TitoPuente on Jun 3, 2015 11:49:39 GMT
If I'm allowed to answer too (although I've already raised most of these in another place) .. 1) More granularity about what to bid (rather than 0.5% or 1%, say "£120"). 2) Allow multiple autobids (e.g. 5 * £120) 3) Allow people to turn OFF autoBUY while leaving autoBID on (i.e. no SM purchases). Or vice versa of course. 4) Get it to bid sooner. 5) Not have bids directed at unpopular auctions (ones less filled) if there is a choice... if anything it should go for the most popular ones! Of course my top option is "dynamic bidding" - tell it to bid down to some %age value, but not to start from there. These suggestions would undoubtedly improve autobid as a lender's resource. However, they would degrade FC as a whole marketplace. They would reduce or even kill any lender segmentation i.e. autobid would replace active lending. And they would significantly dry the secondary market. I support the use of autobid as a balancing tool fully managed by FC, rather than a service dedicated to lenders. As long as autobidders, on average, achieve the declared average rates published by FC, there is no need to change it.
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