star dust
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Post by star dust on May 2, 2014 21:11:20 GMT
I am very new to AC and apologies if this has already been covered somewhere else – please point me in the right direction if that’s the case. I have struggled with ACs systems and the lack of information on their site. However, thanks to the AI thread here I finally managed to set up AI’s on about eight loans, and I must’ve done something right ‘cause it’s now picked up some loan parts and cleared out my account! My dilemma now is that I have put a pre-bid on, but now there’s nothing in my account. The bid closes tomorrow, so a number of Qs arise. Will I have lost my place due to lack of available funds? Does Go-Cardless work on the weekends? Do I have to cancel all the unfilled AI’s I laboured to set up in order to make sure I have the pre-bid covered and funds aren’t whisked out of my account for something else? My thanks go to all contributors on this AC Board, as I would have been even more lost without your invaluable experience and contributions. I'm hoping I'll be an old hand soon and wonder why it took me so long to get to grips with  . |
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Post by chris on May 2, 2014 21:28:24 GMT
Hi star dust, welcome to the site!
The pre-bid will need cleared funds available at the start of the auction in order for it to be converted into a bid. If you do not have cleared funds the pre-bid will fail to convert and the system will not try again, it's a one shot function.
You are correct that if you were to deposit money on to the site the AI system will immediately try to lend those funds out, so if you suspect that there are more loan units available on loans where your target has not been met then you will need to manually disable those AI instructions or set the target to be your current holding.
We have plans to add a global "disable" switch to AI so that you can switch AI as a whole on or off on a per account basis but it is not available yet.
GoCardless works on the weekends and will deposit money instantly into your account.
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Post by Ton ⓉⓞⓃ on May 2, 2014 21:35:15 GMT
I am very new to AC and apologies if this has already been covered somewhere else – please point me in the right direction if that’s the case. I have struggled with ACs systems and the lack of information on their site. However, thanks to the AI thread here I finally managed to set up AI’s on about eight loans, and I must’ve done something right ‘cause it’s now picked up some loan parts and cleared out my account! My dilemma now is that I have put a pre-bid on, but now there’s nothing in my account. The bid closes tomorrow, so a number of Qs arise. Will I have lost my place due to lack of available funds? Does Go-Cardless work on the weekends? Do I have to cancel all the unfilled AI’s I laboured to set up in order to make sure I have the pre-bid covered and funds aren’t whisked out of my account for something else? My thanks go to all contributors on this AC Board, as I would have been even more lost without your invaluable experience and contributions. I'm hoping I'll be an old hand soon and wonder why it took me so long to get to grips with . Go Cardless works weekends and during holidays, I really like it, but AC will be dispensing with their services at some point soon. Almost every time there's a new loan we all learn something, and sometime something goes differently from what was expected. So as this is a relatively small loan in preview (i.e. pre-bids) this will disappear very quickly when it opens for normal bids. Firstly though the system starts to turn the pre-bids into real bids 5mins before the opening time of the auction, so it's best to put in pre-bids if you can, but for all those who don't have the money in their a/c's the system will keep on checking to see if the money is in your a/c as the auction goes on. But as this is a small loan if there's no money in your a/c at the beginning I'm sure normal bid will fill it and so finish the auction very quickly. That's very wordy and I don't know if I've really explained it really. Good Luck anyway. In EDIT Cross posts there, I've updated my post with new info from Chris... Chris set this system up so he's the god.
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Post by Come_on_Grandad on May 2, 2014 21:43:50 GMT
<snip> My dilemma now is that I have put a pre-bid on, but now there’s nothing in my account. The bid closes tomorrow <snip> I wanted to remind @star dust that the prebids are executed five minutes before the auction starts, so that is the moment when you'll need cleared funds. The loan is small and looks as if it may fill instantly from the prebids. So you're unlikely to get a second chance. Thus I wanted to specify that the critical time is 16:55. However I notice that on the available for investment page the auction start is given as 17:00 whilst on the preview page the start time is given as 16:00. Possibly one is GMT and the other BST but, chris could you please confirm the time.
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Post by chris on May 2, 2014 21:48:35 GMT
Ton ⓉⓞⓃ - it used to work in that way but was changed when AI was released as it didn't make sense to have two systems constantly trying to bid out your funds. If you set AI up to manage things for you on a given loan then it will retry as soon as you deposit funds in your account.
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Post by chris on May 2, 2014 21:51:19 GMT
<snip> My dilemma now is that I have put a pre-bid on, but now there’s nothing in my account. The bid closes tomorrow <snip> I wanted to remind @star dust that the prebids are executed five minutes before the auction starts, so that is the moment when you'll need cleared funds. The loan is small and looks as if it may fill instantly from the prebids. So you're unlikely to get a second chance. Thus I wanted to specify that the critical time is 16:55. However I notice that on the available for investment page the auction start is given as 17:00 whilst on the preview page the start time is given as 16:00. Possibly one is GMT and the other BST but, chris could you please confirm the time. It's in the database as 5pm but I'll confirm. There was a change made recently to correct the times for someone in a different time zone so this could have introduced a bug.
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star dust
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Post by star dust on May 2, 2014 22:31:29 GMT
Thanks for all your replies. Looks like I'm going to be spending tomorrow deleting and re-creating AI's hopefully I'll be much faster at it this time though - roll on the toggle!
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Post by Come_on_Grandad on May 2, 2014 22:37:41 GMT
Thanks for all your replies. Looks like I'm going to be spending tomorrow deleting and re-creating AI's hopefully I'll be much faster at it this time though - roll on the toggle! You can just edit them from your list of auto-invest mandates. Set the target to whatever your actual holding is, and 'update target'.
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star dust
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Post by star dust on May 2, 2014 23:32:00 GMT
Thanks for all your replies. Looks like I'm going to be spending tomorrow deleting and re-creating AI's hopefully I'll be much faster at it this time though - roll on the toggle! You can just edit them from your list of auto-invest mandates. Set the target to whatever your actual holding is, and 'update target'. Many thanks for that tip. I didn't realise that you could set the target to £0.00, but just tried it and it's stayed there. That's saved me searching through the lists to resurrect them all. The toggle would still be pretty useful though if you have a number of AI's set up.
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Post by chris on May 3, 2014 5:02:34 GMT
You can just edit them from your list of auto-invest mandates. Set the target to whatever your actual holding is, and 'update target'. Many thanks for that tip. I didn't realise that you could set the target to £0.00, but just tried it and it's stayed there. That's saved me searching through the lists to resurrect them all. The toggle would still be pretty useful though if you have a number of AI's set up. As AI can sell loan units as well as buy them, place bids, etc. you can set the target to anything and the system will do all it can to get you to that target.
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oldgrumpy
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Post by oldgrumpy on May 3, 2014 8:10:49 GMT
You can just edit them from your list of auto-invest mandates. Set the target to whatever your actual holding is, and 'update target'. Many thanks for that tip. I didn't realise that you could set the target to £0.00, but just tried it and it's stayed there. That's saved me searching through the lists to resurrect them all. The toggle would still be pretty useful though if you have a number of AI's set up. If you have a target of £0 on any auto-invest auction make sure you have disabled the sell tick, or AI will sell all your holding to attain the £0 target.
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star dust
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Post by star dust on May 3, 2014 10:10:03 GMT
Many thanks for that tip. I didn't realise that you could set the target to £0.00, but just tried it and it's stayed there. That's saved me searching through the lists to resurrect them all. The toggle would still be pretty useful though if you have a number of AI's set up. If you have a target of £0 on any auto-invest auction make sure you have disabled the sell tick, or AI will sell all your holding to attain the £0 target. Thanks for the advice. The only thing I’ve got ticked in any of them is ‘buy’ at the moment, I noticed fairly early on that it generated loads of ‘failed’ reports if it was trying to do the impossible and it was best to set the advanced tab to exactly what you were trying to do. Setting the un-purchased ones to £0 just now though I noticed an anomalie in that most of the mandates told me I was holding £x at y% even if x was £0, but two of them didn’t have this header at all, and I had to double check I didn’t have a holding before I set them to zero. Is there some reason for this I am not aware of?
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Post by Ton ⓉⓞⓃ on May 3, 2014 10:23:49 GMT
If you have a target of £0 on any auto-invest auction make sure you have disabled the sell tick, or AI will sell all your holding to attain the £0 target. Thanks for the advice. The only thing I’ve got ticked in any of them is ‘buy’ at the moment, I noticed fairly early on that it generated loads of ‘failed’ reports if it was trying to do the impossible and it was best to set the advanced tab to exactly what you were trying to do. Setting the un-purchased ones to £0 just now though I noticed an anomalie in that most of the mandates told me I was holding £x at y% even if x was £0, but two of them didn’t have this header at all, and I had to double check I didn’t have a holding before I set them to zero. Is there some reason for this I am not aware of? If you set your target to zero and you hold some of that stock; AI will sell the stock to get down to your new instruction of zero holding. Personally I just switch off the "sell" function and ignore the values, as it took me some while to go thoughtfully thru' all the loans in the first place. I'm thinking some people will be selling things I'm interested in to cover pre-bids. This is a general buy opportunity.
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star dust
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Post by star dust on May 3, 2014 15:02:38 GMT
snip> Personally I just switch off the "sell" function and ignore the values, as it took me some while to go thoughtfully thru' all the loans in the first place. I'm thinking some people will be selling things I'm interested in to cover pre-bids. This is a general buy opportunity. That would be a neater surer way of doing it, especially as I only have 'sell' ticked under advanced anyway. I didn't realise AI sat there even though you effectively render it inoperable and those were my sentiments when I thought I had to delete them and then create them anew. Well, thanks to all, I'm getting wiser now.
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