Vero
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Post by Vero on May 29, 2014 13:32:15 GMT
For what it is worth: any time I've had funds available, AI has been pretty quick to allocate them - to the point that when I manually add several £k for a specific purpose I have had to switch AI off to prevent it from auto-investing away before I get to manually allocate the funds myself.
Any interest payments that arrive in my account, or completed loans that payout, are then also pretty quickly auto-invested too.
Perhaps my mandates, and overall loan criteria, are a bit different to the average AI user?
How do you switch AI off? Do you mean that you disable each mandate and then switch them back on afterwards? I've got 19 separate mandates and it would be a pain to disable them individually. I've asked if a global disable/enable could be provided, but as far as I can see it's not yet available.
I've also found AI pretty quick to allocate funds, including interest payments. It might take a week or two but that's much better than the month or several on the auction/drawdown path.
No Badger, no magic AI OFF switch yet; still, no need to disable all 14 mandates. I just check the AM, and decrease the target value for each AI mandate that has parts listed in the AM. Then I can add my funds and safely make my manual purchase. When I am finished I increase those AI targets again.
The first time I did not think to do this, I added £2k via gocardless, then when I went to spend it, it was gone! I thought I must have made a mistake, so added £2k again... then I realised what was happening!
I think my loan criteria may be kind of different to the average lender, so maybe that is why I find AI pretty snappy with picking up parts? Usually minutes, sometimes hours, occasionally a few days (eg after a largish loan payout).
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acorn
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Post by acorn on May 29, 2014 15:07:21 GMT
I put in £500 6/7 May, hoping to increase my holdings in 5 loans I had small bids in via AI when they drew down as underwriters sold on. All of these loans were expected to draw down early/mid May. Needless to say, only one has drawn down and the others are still in limbo. The worst is Cov. S. O. which is apparently (there has been no new feedback) still awaiting consent from 1st charge holder which was expected early this week.
It has been difficult to resist the temptation to just pile everything into two or three loans that are readily available but, given the size of my investment, the bigger the spread and variety of loan the better.
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gnasher
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Post by gnasher on Jun 26, 2014 20:37:10 GMT
So far I have been impressed with AI, but today it has thrown a wobbler, or perhaps more likely I do not understand it. Anyway some time ago I set it up for Auction 89 St..... P... L.... for target of £1000 so as to pick up units when they became available on AM. Yesterday I noticed loads on AM but my account was still empty of any units even though I had cash sitting there, boo hoo. Today I changed it to £600 then £400 to see if that would kick start it - nothing. I then purchased £200 manually - no problem, but this then changed my target back to £600, i.e. the 400 I had it set to before, plus the 200 manually purchased. Is that how it is supposed to work? seems strange, and why did it not action my original request? As I write I have changed the target to £300, but I still only have the £200 I purchased manually. Something must be wrong surely! ..... chrisEdit : I have it set up for full house/everything on the advanced options, so "buy" is definately ticked. |
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kermie
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Post by kermie on Jun 26, 2014 20:41:06 GMT
I fell foul of this today too - loan#89 as well. It turns out that if you have pre-bids in place, then this is deducted from your cash holding before AI tries to buy anything. Do you have pre-bids in place, gnasher? |
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gnasher
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Post by gnasher on Jun 26, 2014 20:51:09 GMT
err.... yes I do, so that is it is it! I thought the whole idea of pre bids and shadow bids was to not tie up your money until it was actually needed. I would prefer to use my cash on AM now/instantly if things become available that I am interested in, and hence have a predid fail due to lack of funds, rather then have it waiting until some indeterminate time in the future when one of those auctions goes live and miss some nice stuff on AM that I want.
EDIT: OK , deleted all of my prebids, still nothing. Then changed my target to £500 and bingo, off it goes. So it looks like having prebids hanging around for weeks/months is a really bad idea if you are hoping AI will pick up stuff on AM for you. The way AC is developing makes it kind of pointless to participate in the primary auctions at all, unless they are small ones with no underwrting that is.
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kermie
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Post by kermie on Jun 26, 2014 21:01:09 GMT
err.... yes I do, so that is it is it! I thought the whole idea of pre bids and shadow bids was to not tie up your money until it was actually needed. I would prefer to use my cash on AM now/instantly if things become available that I am interested in, and hence have a predid fail due to lack of funds, rather then have it waiting until some indeterminate time in the future when one of those auctions goes live and miss some nice stuff on AM that I want. Agreed; it don't make sense to me. I think many of us are being caught out on this now because there are several loans in preview state, hence more lenders using pre-bids which are hanging around for many days. I think in times gone by I'd not noticed any issues because my pre-bids would go away in less than a day (i.e., when the auction starts). chris advises that new features going live in a few weeks should improve the situation.
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Post by chris on Jun 26, 2014 21:07:06 GMT
EDIT: OK , deleted all of my prebids, still nothing. Then changed my target to £500 and bingo, off it goes. Ooo it's quite possibly missing a trigger on manually deleting prebids so that this action doesn't cause it to instantly run. Changing the target triggered it as would any of the other triggers. Not worth fixing given the pending changes but worth noting. It would have self corrected in around 25 minutes time anyway.
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Post by Duane Dibley on Jun 27, 2014 19:11:19 GMT
In effect it means that AI is redundant for anybody with prebids or shadowbids unless they have sufficient funds to more than cover their forthcoming liability.
Which kind of defeats the object. Strange.
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Post by chris on Jun 27, 2014 19:32:23 GMT
In effect it means that AI is redundant for anybody with prebids or shadowbids unless they have sufficient funds to more than cover their forthcoming liability. Which kind of defeats the object. Strange. Well in general they should have enough funds to cover their liability, and prebids should be a short term thing. It hasn't always worked out like that though. I'm open to suggestions on how to solve this as the current behaviour was user requested. But it'll be resolved anyway as soon as the new version of the site is released.
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mikes1531
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Post by mikes1531 on Jul 11, 2014 1:31:00 GMT
In effect it means that AI is redundant for anybody with prebids or shadowbids unless they have sufficient funds to more than cover their forthcoming liability. Which kind of defeats the object. Strange. Well in general they should have enough funds to cover their liability, and prebids should be a short term thing. It hasn't always worked out like that though. I'm open to suggestions on how to solve this as the current behaviour was user requested. But it'll be resolved anyway as soon as the new version of the site is released. I think this is what has stopped AI doing anything for me lately. I had bids in some of the loans that were sent back to the Pre-bid stage -- Aber..., Red..., etc. -- those pre-bids are very different from the usual pre-bid in that they've been sitting around for weeks and -- as best as I can tell -- they'll still be sitting around for some weeks more. Unless the new release of the website is coming in the next day or two, this needs to be patched in the meantime. No doubt it's easier said than done, but might the calculation of the amount of money that is being reserved to cover pre-bids be modified to ignore pre-bids for those loans that have been reverted to pre-bid status and have no prospect of becoming live loans in the near future?
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andy2001
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Post by andy2001 on Jul 11, 2014 2:43:22 GMT
In effect it means that AI is redundant for anybody with prebids or shadowbids unless they have sufficient funds to more than cover their forthcoming liability. Which kind of defeats the object. Strange. Well in general they should have enough funds to cover their liability, and prebids should be a short term thing. It hasn't always worked out like that though. I'm open to suggestions on how to solve this as the current behaviour was user requested. But it'll be resolved anyway as soon as the new version of the site is released. Having prebids disable auto invest is incredibly stupid, and puts anyone using prebids at an unfair disadvantage.
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Post by chris on Jul 11, 2014 6:45:33 GMT
Having prebids disable auto invest is incredibly stupid, and puts anyone using prebids at an unfair disadvantage. It was requested by users on this forum, as otherwise those with total targets larger than their current holding can't transfer funds to settle prebids without disabling all their other mandates. I've made a change to compromise that I really hope doesn't trip anyone up. Pre-bids will now only be counted on auctions where there is a known start date. If auctions do not have a known start date, i.e. they're in an extended preview state, then pre-bids will not affect how your funds are used elsewhere. This will hopefully be much closer to expected behaviour with fewer people getting confused.
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spockie
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Post by spockie on Jul 11, 2014 6:58:29 GMT
Having prebids disable auto invest is incredibly stupid, and puts anyone using prebids at an unfair disadvantage. It was requested by users on this forum, as otherwise those with total targets larger than their current holding can't transfer funds to settle prebids without disabling all their other mandates. I've made a change to compromise that I really hope doesn't trip anyone up. Pre-bids will now only be counted on auctions where there is a known start date. If auctions do not have a known start date, i.e. they're in an extended preview state, then pre-bids will not affect how your funds are used elsewhere. This will hopefully be much closer to expected behaviour with fewer people getting confused. Good change - I like it. I cancelled my (pre-)bids on Redruth and WSM after they returned to preview status because the high amount of pre-bids was messing up my ability to pick up any AM parts. I take it I will still qualify for the cashback on those loans as my cash was tied up along with everybody else's for the full time prior to the return to preview?
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Post by chris on Jul 11, 2014 6:59:40 GMT
Above my pay grade - I'd assume so but it would be down to andrewholgate and others in the business. |
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pikestaff
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Post by pikestaff on Jul 11, 2014 7:19:29 GMT
Agree this is a good change.
I cancelled my pre-bids for Aber yesterday. I'd better put them back now...
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