@Arbiter,I probably should have said the initial IPO period (3 Days), my apologies.
Your right, at the starting bell isn't the issue, it is before the Market maker is turned on. The point being the time to make the easiest margin is during the IPO when every tom, dick, and harriet are rushing to get a piece of the pie so to speak.
However, I don't understand what the focus is about the time of day people can start posting orders. I didn't start posting my orders for Brain Age 2 until right now, and I'm shorting at prices I think are too high. The price determination period goes on for 3 days. Why do people feel they need to rush and submit orders right when the site allows you to submit orders?
From this discussion it sounds like many people think the current bids are too high...why don't you take them?
I feel for what your saying pilias_simber, but to be honest that is exactly how the real stock markets work. Just because it closes, or in our case opens, at a certain time doesn't mean that the succesful people stop working. It is those who put in that extra effort who reap the rewards, Warren Buffett for example.
The same holds true in the vast majority of the games we are "investing" in. Those who put in the extra time or effort get the greatest rewards (usually the ones who are up all hours of the night and morning.)
Now yes it sucks that most of these IPO's start at ungodly hours in the morning, and yes those of us who have to work or whatever will never be as succesful or have as great profit margins as those who are able to stay up until that inital opening period. Sadly it is a fact of life and a stock market is NEVER fair, nor should it be.
So to those who make those extra DKP's during the inital opening, good for them, they are playing the way the system is meant to be played. Sucks for the rest of us, but then again welcome to life.
Well if thats the way we want the market to work then I guess all the people willing to stay up will continue to post huge gains and everyone else will just have to settle for being below these people in the rankings.
What they're doing though is in no way fixing the intended problem of poor IPO prices causing people to make huge gains because they launch at a high price, only now the only people who get to take advantage of it are people with no jobs who can stay up till 1am to post their bids.
That post explains what is going on. It is NOT manipulation. This is called market making and is essential to a functioning market. People must post the orders they are willing to buy and sell at in the orderbook. You are seeing a market trying to determine a good price for IPO. It just takes time for orders to come in and the bid-ask spread to come together.
The problem here seems more like people have jumped into stock trading in the simExchange, but haven't taken the time to understand the fundamentals of how a market works.
I have observed people making profits off of manipulation of the IPOs.
"How do they make "profit margins" by staying up late last night? There were only like 500k DKP of the stock traded when I got up this morning."
500kDKP with a 100% rise = 1 million DKP. I am saying there are one or two people making 2-300k DKP gains on the stocks each day. All you need to do that is buy 2-300k worth of the stock (which could be a single order valued at 250k) at a low price and then sell it at a 100% higher price to make a killing.
This isn't people trying to find a good price for the IPO, its simple manipulation of the system to make a profit for 3 days until they put the marketmaker in.
@pilias_simber, there's no "shooting" up the stock price. The ticks you see on a ticker are just the prices other people were willing to trade at in the past. That doesn't mean the stock is worth that much! If you think a stock market is 20% too high, you can trade it 20% lower if you want. Ideally you would short at the highest price you can and bring it down. A stock market functions by supply and demand of its traders.
How do they make "profit margins" by staying up late last night? There were only like 500k DKP of the stock traded when I got up this morning.
@charron, if you guys are seeing prices you think are too high, why are you complaining? Why don't you just short the stock down? That is how a stock market works =).
@charron, I really think its just people who don't pay attention to price and are buying the stock because its Brain Age. Everytime I post a sell order, someone takes it so I raised it assuming it was too low. This was at 13 million. No idea who is buying this at 24 million...I would assume these people aren't even looking at the price they are buying at.
@pilias_simber, such action wouldn't surprise me. That said, it's not exclusively an issue with the lack of marketmaker. While that is part of it, I also think the fact that the whole site "resets" at Midnight Pacific is part of the equation. A few big trades at 12:01 am sets the tone for the rest of the day. If, instead, activity were formatted for the last 24 hours, then no trades could have higher significance over others solely because of timing. I don't have issue with bid trust and rankings being set at midnight, but everything else should be based on the last 24 hours rather than since midnight.
I do think that using the Pacific time zone for the site's midnight is rather unfair to those in the Eastern time zone (like myself), as that'd be far too late for many to stay up. If the site were based on Eastern time, then at least all of the American time zones could be active for midnight more easily.
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Your right, at the starting bell isn't the issue, it is before the Market maker is turned on. The point being the time to make the easiest margin is during the IPO when every tom, dick, and harriet are rushing to get a piece of the pie so to speak.