Hmmmm...

[Reggy]

Im cool about it but when i sold my pace the price was at 84.75p for more than a minute after i sold on here Sharky...and the bots put it through at 80 p !!!!! which has cost me about £3k extra profit on a "back of a fag-packet" calculation.

No probs though. Just wanted to raise the point.

Reg

 

[Sharky]

Hi Reggy,

As if you haven't already made enough.. only kidding !

Looking at the time of trade - went throught at 4:00pm so you must have executed the order at 3:40?, which looking on ADVFN trades the PACE price was 78.5/80 and 80.5/82.5 So, the 80p it went though at sounds right. Because of the 20 min delayed feed, we delay execution by 20 mins to compensate. Of course, sods law by 4:00 the price was at 82.5/84, so had you traded at that time the order would have been executed at 4:20 which with the 20 min delay would have been roughly the 4:00 price. Hope everyone is following this...

Does that sound right?

Sharky.

 

[Reggy]

If you look at the price on a graph the bot must have caught it on a quick "blip" in the price. Also i think the bot did the price too early because i was not expecting the sell to be registered on the site till about 4.03pm.

Like i say though no worries...ive got plenty more aces up my sleeve yet ! ;-)

On another note...i had pace yesterday...its looking very good at the moment but i took profit today at 84.75p....Keep your eye on it folks!

Reg

back to the day-trading!

 

[PurplePerson]

At the end of the comp, are final valuations made on the bid price(and on offer price for shorts) or on the closing mid price? Need to know because if it's on the bid(or offer) price it is presumably advantageous to escape into cash before the end-of-day spreads widen dramatically on some stocks.
Apologies if already stated somewhere - I have trouble finding my way around discussion areas here. Too late to matter for this comp but interested for the next one.

 

[Sharky]

Hi Purple,

Its the valuation of your portfolio based on the bid(buys) / offer(shorts) rather than the mid price. I take your point about the spread widening, so indeed depending on the stock it may be advantageous to escape into cash right before close. I think that's a better solution and more realistic than taking the mid price. But as always feedback is appreciated, perhaps a compromise of the price at say 4:00 on the last day rather than closing prices for the next competition?

Cheers,
sharky.

 

[PurplePerson]

Thanks for the clarification Sharky. Personally I'm happy with the status quo. Just needed to know. The need to escape the end-of-day spreads just makes for another chance to exercise some skill and judgement! The trouble with that alternative idea of taking a 4pm valuation is you would need to end the comp then - with last orders 20 minutes earlier - otherwise it would mess up trades going through after 4pm on the final day, so I favour leaving it as is. The fewer complications the better. Unless outvoted.