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Post by spiker on Jun 10, 2017 18:23:23 GMT
Autobid seems to not be behaving normally today.
I have D's and E's on sale at par and they're not being sold
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Post by TomBola on Jun 10, 2017 19:02:16 GMT
Yes, there are E's at discount not selling.
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Post by dan1 on Jun 10, 2017 19:09:32 GMT
Autobid seems to not be behaving normally today. I have D's and E's on sale at par and they're not being sold Strange given there are no D or E loan requests. Perhaps this is part of a strategy by FC to disrupt the operation of bots selling just before the repayment date? Is there any way to see where your loan part is in the queue?
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blender
Member of DD Central
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Post by blender on Jun 10, 2017 23:48:19 GMT
There is no queue as such. Two identical loan parts have the same probability of being chosen by autobid, irrespective of how long they have been for sale. However Autobid may take a number of loan parts from the same seller for the same buyer at one go. Unless they have changed the algorithm. There was a lot of discussion when property parts were sold after cashback, and it was discovered that it was a last in first out system. They changed it to a 'random' algorithm.
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Post by dan1 on Jun 11, 2017 7:45:22 GMT
There is no queue as such. Two identical loan parts have the same probability of being chosen by autobid, irrespective of how long they have been for sale. However Autobid may take a number of loan parts from the same seller for the same buyer at one go. Unless they have changed the algorithm. There was a lot of discussion when property parts were sold after cashback, and it was discovered that it was a last in first out system. They changed it to a 'random' algorithm. Thanks for the detailed reply blender. Note sure I prefer random to a queue but at least for the vast majority of the time the SM is very liquid.
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blender
Member of DD Central
Posts: 5,719
Likes: 4,272
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Post by blender on Jun 11, 2017 8:20:08 GMT
At the time this was changed, your opinion was shared by many, that the part which had been on sale the longest should be sold first. When it was found that in effect it was the other way round, sellers of cashback-stripped property parts started relisting daily (that includes me). The LIFO system enabled FC to give 'Churchillian' statistics about the speed of sale on the SM which appeared to show that the sold parts sold quickly, while the system ensured that property parts which were listed for more than a day or so were never sold, being relisted or dropped out after 14 days, and therefore excluded from the statistics of speed of sale. If they had gone to FIFO the statistics of speed of sale would have been trashed. (no such info is given now but in that time they needed manual property buyers and they wanted the cashback to encourage large buy and hold purchases, not flipping). The FC SM is not a true market, in the way that, say, Ablrate's is. It needs to provide liquidity through autosale for portfolios bought by autobid, mostly at par. Autobid does not make the best purchase, but simply the first acceptable purchase with which it is presented. And so ordering parts by a combination of best value and length of time offered is alien to the purpose and practice.
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