oldgrumpy
Member of DD Central
Posts: 5,087 
Likes: 3,233
|
Post by oldgrumpy on Dec 2, 2015 11:42:27 GMT
Perhaps buying on the SM should be limited to £100 per purchase in any (three?) minutes (or 10% of the total amount available if above £1000), and only one place in the queue at a time for the buyers.
|
|
|
|
Post by yorkshireman on Dec 2, 2015 11:52:17 GMT
The way the SM is operating prevents "mere mortals" from building up a diverse portfolio. Having checked a few random times the same buyers seem to get there first. I can only assume they are using some sort of automation. While it doesn't currently affect me as I have a good spread of loans having invested here for quite a while I can see it limiting my ability to invest in the future. I would like to see SS addressing this issue. We have researched this; there are at any one time about 50 people on the site looking to buy up all the parts that come up for sale. We have traded our own positions on the secondary market and looked into who is buying. We have come to the conclusion that this is not a 'Bot' or automated buying situation but a simple case of some people being quicker off the mark than others - perhaps they have created keyboard shortcuts to allow faster buying, this is very simple and will allow them to get ahead of others. Demand is outstripping supply, sorry. I don’t accept that, I sold 6 parts this morning and each sale was instantaneous. No one, with or without keyboard shortcuts, is that quick off the mark.
|
|
Steerpike
Member of DD Central
Posts: 1,978
Likes: 1,687
|
Post by Steerpike on Dec 2, 2015 11:56:23 GMT
We have researched this; there are at any one time about 50 people on the site looking to buy up all the parts that come up for sale. We have traded our own positions on the secondary market and looked into who is buying. We have come to the conclusion that this is not a 'Bot' or automated buying situation but a simple case of some people being quicker off the mark than others - perhaps they have created keyboard shortcuts to allow faster buying, this is very simple and will allow them to get ahead of others. Demand is outstripping supply, sorry. I don’t accept that, I sold 6 parts this morning and each sale was instantaneous. No one, with or without keyboard shortcuts, is that quick off the mark. I agree, that matches my experience, no human can react that fast. Automated buying is in use.
|
|
|
|
Post by pepperpot on Dec 2, 2015 12:06:32 GMT
We have researched this; there are at any one time about 50 people on the site looking to buy up all the parts that come up for sale. We have traded our own positions on the secondary market and looked into who is buying. We have come to the conclusion that this is not a 'Bot' or automated buying situation but a simple case of some people being quicker off the mark than others - perhaps they have created keyboard shortcuts to allow faster buying, this is very simple and will allow them to get ahead of others. Demand is outstripping supply, sorry. I don’t accept that, I sold 6 parts this morning and each sale was instantaneous. No one, with or without keyboard shortcuts, is that quick off the mark. I sold 3 parts at just after 1am in the wee hours last night/this morning, all went by the time I'd refreshed the page. The manual bidders around here must be getting square eyes by now. (or should that be 16:9 aspect ratio eyes) edit; in fact having just checked the emails, the '100% sold' email landed at 1:04am and the 'confirmation that your part is for sale' landed at 1:05am. Fast by anyone's standards.
|
|
ramblin rose
Member of DD Central
“Some people grumble that roses have thorns; I am grateful that thorns have roses.” — Alphonse Karr
Posts: 1,370
Likes: 857
|
Post by ramblin rose on Dec 2, 2015 12:08:16 GMT
I don’t accept that, I sold 6 parts this morning and each sale was instantaneous. No one, with or without keyboard shortcuts, is that quick off the mark. I agree, that matches my experience, no human can react that fast. Automated buying is in use. I sold a couple of parts this morning that were quick, but not instantaneous (survived one or more refreshes), and one went to at least 3 different people.
|
|
Steerpike
Member of DD Central
Posts: 1,978
Likes: 1,687
|
Post by Steerpike on Dec 2, 2015 12:18:19 GMT
I agree, that matches my experience, no human can react that fast. Automated buying is in use. I sold a couple of parts this morning that were quick, but not instantaneous (survived one or more refreshes), and one went to at least 3 different people. It is not surprising that not all parts are bought by BOTs, however, clearly that does not mean that automated buying is not in use (that's are lorra lorra nots I know). An automated buying process will be designed to buy what the user wants not necessarily everything on the market.
|
|
webwiz
Posts: 1,133
Likes: 210
|
Post by webwiz on Dec 2, 2015 12:23:02 GMT
I agree, that matches my experience, no human can react that fast. Automated buying is in use. I sold a couple of parts this morning that were quick, but not instantaneous (survived one or more refreshes), and one went to at least 3 different people. This proves nothing. Just because some loans are not bought by bots does not mean that there is no bot. The bot(s) might be programmed to be selective or to stop when a target is reached for example. I don't understand why SS don't simply put an end to this argument once and for all by putting a capcha in; it can always be removed if they are proved right and it is causing inconvenience. I have to complete capchas on lots of sites which are not even financial in nature.
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Dec 2, 2015 12:28:38 GMT
I don’t accept that, I sold 6 parts this morning and each sale was instantaneous. No one, with or without keyboard shortcuts, is that quick off the mark. I sold 3 parts at just after 1am in the wee hours last night/this morning, all went by the time I'd refreshed the page. The manual bidders around here must be getting square eyes by now. (or should that be 16:9 aspect ratio eyes) edit; in fact having just checked the emails, the '100% sold' email landed at 1:04am and the 'confirmation that your part is for sale' landed at 1:05am. Fast by anyone's standards. I think I may beat you on that. If I remember well there was at least one occasion where the "sold email" arrived before the "your part is for sale" email.
|
|
ablender
Member of DD Central
Posts: 2,204
Likes: 555
|
Post by ablender on Dec 2, 2015 12:31:24 GMT
I have to say that I am pretty happy with how the SM works. I do not use automated systems and do not always get what I would like to buy. In fact it is only a small percentage of times that I succeed. But I prefer this than trying to sell because I might need the money and having to look at the part standing there for days like in FC.
|
|
|
|
Post by brokenbiscuits on Dec 2, 2015 12:31:42 GMT
When I first saw something on the secondary market (new user. Been here just over a week) I started to carry out a quick review of the loan and then obviously it was gone well before I'd assessed it.
Now I know the strategy is buy anything you see the second it appears. Review and then if you don't fancy it. Not to worry, it will be gone within 2 seconds of you submitting it for sale.
I don't think the bigger loans coming through will make a difference. People will not want to be all in or mostly in one loan and will still want to diversify into everything they can.
|
|
freddy
Member of DD Central
Posts: 147
Likes: 145
|
Post by freddy on Dec 2, 2015 13:14:44 GMT
I spent around 2 hours from 10am to midday attempting to purchase various loan parts. During that period there was a consistent flow up for sale and all were gone in seconds. I was literally hitting buy as they appeared and by the time the page changed for me to enter my bid the balance was already at zero. I have no doubt that the vast majority were purchased through an automated system. My computer is fast and I'm not slow. Possibly 40 attempts to buy and o% success.
|
|
|
|
Post by savingstream on Dec 2, 2015 13:25:49 GMT
It is our opinion that the ability to diversify your portfolio through the purchase of loan parts that become available on the secondary market is of secondary importance to that of having a liquid mechanism with which to divest oneself quickly if necessary. At the moment demand is outstripping supply. It is as simple as that.
|
|
Liz
Member of DD Central
Posts: 2,426
Likes: 1,297
|
Post by Liz on Dec 2, 2015 13:28:05 GMT
Try buying just after midnight, people often sell as soon as the internet has been applied.
|
|
jonno
Member of DD Central
nil satis nisi optimum
Posts: 2,808
Likes: 3,242
|
Post by jonno on Dec 2, 2015 13:35:14 GMT
Try buying just after midnight, people often sell as soon as the internet has been applied. ; you have a very INTERESTing internet 
|
|
oldgrumpy
Member of DD Central
Posts: 5,087
Likes: 3,233
|
Post by oldgrumpy on Dec 2, 2015 13:35:55 GMT
It is our opinion that the ability to diversify your portfolio through the purchase of loan parts that become available on the secondary market is of secondary importance to that of having a liquid mechanism with which to divest oneself quickly if necessary. At the moment demand is outstripping supply. It is as simple as that. You avoid the issue that (sometimes quite sizable) loan parts are sold within a fraction of a second, before any physical action can even apply for them. That is nothing to do with demand outstripping supply. It is of considerable interest to many lenders attempting to use the system you have developed.
|
|
