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Buy Order default Bid Price suggestion (also applicable to Sell Orders)

Author
Samroski
Middle-Earth
#1 - 2013-06-11 16:04:44 UTC  |  Edited by: Samroski
Edit. Note: Suggestion has been withdrawn, as it is no good.

My apologies if this has already been suggested multiple times in this forum.

The Bid Price shown, when you open the Buy Order (Advanced) window for an item (usually by clicking the Place Buy Order button in the Market window), should be 0.01 above the highest buy order at that station for that item.

Currently the Bid Price shown is the regional average.

99% of the time you want to place a buy order 0.01 above the highest order reaching that station (green buy orders).

Conversely, the same could be done for Sell Orders, with the Bid Price shown 0.01 less than the lowest sell order.

This would certainly save me a lot of hassle, especially when I play in the dark and have to enter all sots of sequences of numbers. I'm sure other traders would also welcome this change.

A. Is this suggestion worth posting in the appropriate forum?
B. Is it worthy of getting on MD's wish-list? or
C. Does this thread deserve to be locked?

Any colour you like.

Kara Books
Deal with IT.
#2 - 2013-06-11 16:16:47 UTC
Remove scrolly wheeling? am I reading this right?
Samroski
Middle-Earth
#3 - 2013-06-11 18:10:30 UTC  |  Edited by: Samroski
Kara Books wrote:
Remove scrolly wheeling? am I reading this right?

No.

Edit: Maybe the term "Bid Price" is confusing. This is the term used for the price you enter in the buy order window.

Any colour you like.

Caleb Ayrania
TarNec
Invisible Exchequer
#4 - 2013-06-11 20:30:06 UTC
I think it would be interesting to see what would happen if ccp did create something like this..

So basically default would always bid 0,1% increments, and always default choose the entire stack.

Same when buying always default buy the whole stack, or 1 (change to ALL in settings?)

When highlighting (ctrl clicking on existing market orders they would "stack" them to the number in buying?)

With some small tweaks like this maybe some more "sense" would come to the price finding and bidding wars.

Samroski
Middle-Earth
#5 - 2013-06-11 22:29:29 UTC
Well, what I wanted was that, instead of entering a buy order price manually, let the client do it.

The price that one generally enters when placing a buy order is ISK 0.01 above the the highest buy order at that station.

The client can easily figure out this number (highest buy order for an item at the station + 0.01), and can display this number when you open the Advanced Buy Order window.

Now you still need to enter the number of items you want to buy, for how long etc, but you do not need to type in a price. You can change this price if you like.

So what I'm saying is, the client already displays/suggests a Bid Price value. I want it to display a value that will be entered 99% of the time.

I hope I've been able to explain my idea adequately. I want to say something like, "I should stop posting when intoxicated", but that may not be entirely true.

@ Caleb: You're a few steps ahead of my very basic idea. I expect nothing less from you. I am also pleased by the fact that your post is nearly as abstruse as mine :)

Any colour you like.

Caleb Ayrania
TarNec
Invisible Exchequer
#6 - 2013-06-11 22:53:57 UTC
Abstruse.. Well I guess I am often guilty of that..


In this case I think I was fairly clear though, for a change..

The suggest feature is one of those epic small tweaks with potential huge outcomes..

I suggested to use 0.1% instead of 0.01 isk, precisely to give an advantage to the people willing to get away from the microbid wars, and 0.1% is still a rather extremely low bid change.

The default stack sizes would also be very useful..

So a rather small amount of dev hours could bring some very nice tweaks to this.


While they got the belly of the beast open changing the Contracts "base value" to Avg value would really be a BIG game changer to.. The basic value is meaningless now that the sandbox economy is more liberated..

Adunh Slavy
#7 - 2013-06-11 22:55:48 UTC
Most transactions on the market are people wanting to buy or sell now.

Necessity is the plea for every infringement of human freedom. It is the argument of tyrants; it is the creed of slaves.  - William Pitt

Samroski
Middle-Earth
#8 - 2013-06-11 23:18:18 UTC
Caleb Ayrania wrote:
Abstruse.. Well I guess I am often guilty of that..


In this case I think I was fairly clear though, for a change..

The suggest feature is one of those epic small tweaks with potential huge outcomes..

I suggested to use 0.1% instead of 0.01 isk, precisely to give an advantage to the people willing to get away from the microbid wars, and 0.1% is still a rather extremely low bid change.

The default stack sizes would also be very useful..

So a rather small amount of dev hours could bring some very nice tweaks to this.


While they got the belly of the beast open changing the Contracts "base value" to Avg value would really be a BIG game changer to.. The basic value is meaningless now that the sandbox economy is more liberated..


The Remember Settings check box (in the Advanced Buy/Sell Order window), could also remember the last stack size, and use that subsequently as the default value (as you may have suggested above).

About the 0.1% change instead of ISK 0.01, not sure how I feel about it. I am quite sure that ISK 0.01 would have wide and immediate acceptance, whereas you'd need a bit of convincing for the % change.

Any colour you like.

Caleb Ayrania
TarNec
Invisible Exchequer
#9 - 2013-06-11 23:36:37 UTC
Samroski wrote:
Caleb Ayrania wrote:
Abstruse.. Well I guess I am often guilty of that..


In this case I think I was fairly clear though, for a change..

The suggest feature is one of those epic small tweaks with potential huge outcomes..

I suggested to use 0.1% instead of 0.01 isk, precisely to give an advantage to the people willing to get away from the microbid wars, and 0.1% is still a rather extremely low bid change.

The default stack sizes would also be very useful..

So a rather small amount of dev hours could bring some very nice tweaks to this.


While they got the belly of the beast open changing the Contracts "base value" to Avg value would really be a BIG game changer to.. The basic value is meaningless now that the sandbox economy is more liberated..


The Remember Settings check box (in the Advanced Buy/Sell Order window), could also remember the last stack size, and use that subsequently as the default value (as you may have suggested above).

About the 0.1% change instead of ISK 0.01, not sure how I feel about it. I am quite sure that ISK 0.01 would have wide and immediate acceptance, whereas you'd need a bit of convincing for the % change.


I would say that I dont much care about wide support.

The intention behind "nerfing" 0.01 excessive HFT bidding would be to reduce the number of changes and get more correct pricefinding in more markets.

There is no need to add a feature that helps HFT, that is working perfectly fine without it. The sole argument for any ccp developed feature would be to reduce this behaviour. Or at least make it less beneficial from more actual bids.

I have stated this many times, but there are some huge problems with current HFT in EVE, and ccp seem to leave it alone because many still find the "game play" a fun aspect..

I would tend to agree, but I dont like that the mechanic is being defended from actual useful tweaks with economic argument and relevance.

I personally think the most important nerf would be fixing the broker and taxation on buyorders to reflect actual supply and demand of the brokerage. So the Broker fee would go up and the tax go down where there are lots of transactions taking place. This would not only fix the current strange pile size issue on the market (Huge piles at higher price then small) it would also distribute traders better to reflect their activity levels. Also create a huge boost potentially to bulk contracts trade and shipping.

In general I would love to see a lot more fixing and nerfing of bad working npc service mechanics, and more isk walls instead of floors and ceilings.

arabella blood
Keyboard Jihad
#10 - 2013-06-12 09:46:38 UTC
OP on crack or something? Big smile
Since when is it valid to request a feature that would simplify your gameplay to a point when you dont need to think anymore?
What next? Activate shields the moment ppl lock you? Cuz in 99% you will do it anyway..maybe let the game calculate who will win in an engagment alone? How about the game will auto-align you to the sun when you hit hull? 99% would do it..

I think you got the point, the game shouldnt make your choises for you...

Troll for hire. Cheap prices.

Samroski
Middle-Earth
#11 - 2013-06-12 09:55:27 UTC
arabella blood wrote:
OP on crack or something? Big smile
Since when is it valid to request a feature that would simplify your gameplay to a point when you dont need to think anymore?
What next? Activate shields the moment ppl lock you? Cuz in 99% you will do it anyway..maybe let the game calculate who will win in an engagment alone? How about the game will auto-align you to the sun when you hit hull? 99% would do it..

I think you got the point, the game shouldnt make your choises for you...

I mostly agree with you. There is one minor difference in this situation and the analogies that you present:

In this instance, the game already makes a choice for you. It suggests a price, which is somehow calculated. I'm recommending a different formula for this calculation.

Any colour you like.

arabella blood
Keyboard Jihad
#12 - 2013-06-12 10:23:42 UTC  |  Edited by: arabella blood
Samroski wrote:
arabella blood wrote:
OP on crack or something? Big smile
Since when is it valid to request a feature that would simplify your gameplay to a point when you dont need to think anymore?
What next? Activate shields the moment ppl lock you? Cuz in 99% you will do it anyway..maybe let the game calculate who will win in an engagment alone? How about the game will auto-align you to the sun when you hit hull? 99% would do it..

I think you got the point, the game shouldnt make your choises for you...

I mostly agree with you. There is one minor difference in this situation and the analogies that you present:

In this instance, the game already makes a choice for you. It suggests a price, which is somehow calculated. I'm recommending a different formula for this calculation.


Idd, the game atm shows a number, the one that is lesser of evil.
It by no mean should "push" you in the right direction, the number atm shows a "fact" - regional average, no?

Practicaly:
For sell orders it is useless, since most players would ruther sell the item to the higher buy order instead of creating an actual sell order.
For buy orders its meaningless as well since many dont .01 but rather put an order somewhere on the items "cicle".
Add to that the fact that you reduce players mistakes like "damn i now have a sell order at .01 isk higher then the highest buy order", an error we all love to take advantage onRoll

So i think you suggestion is cool, it sounds as though it would simplify traders job, but it will drasticly change fundumental market situations and has more evil in it then good.

EDIT: lets just leave it blank :)

Troll for hire. Cheap prices.

Samroski
Middle-Earth
#13 - 2013-06-12 10:24:44 UTC
Caleb Ayrania wrote:

The intention behind "nerfing" 0.01 excessive HFT bidding would be to reduce the number of changes and get more correct pricefinding in more markets.

There is no need to add a feature that helps HFT, that is working perfectly fine without it. The sole argument for any ccp developed feature would be to reduce this behaviour. Or at least make it less beneficial from more actual bids.

I have stated this many times, but there are some huge problems with current HFT in EVE, and ccp seem to leave it alone because many still find the "game play" a fun aspect..

I would tend to agree, but I dont like that the mechanic is being defended from actual useful tweaks with economic argument and relevance.

So I looked up high frequency trading (HFT), and am much wiser. Tried a quick search for your posts with HFT, but using the wrong keywords probably.

Wouldn't bots really be doing the actual HFT? Humans can try, but it would still take a couple of seconds to modify an order, presuming you have multiple orders for one item. I suppose this frequency is good enough for JIta, and fast enough in the context of Eve to be termed HFT.

It is obvious from your posts that HFT is looked down upon and there are many problems associated with it. To me it seems like a reasonable way to make money on fast moving items: low margins, high volume. I probably wouldn't do it myself, but I am sure there are many traders who get a kick out of it. Burnout is likely, but going down in flames (and money) is okay in a game, I suppose.

About:
"The sole argument for any ccp developed feature would be to reduce this behaviour. Or at least make it less beneficial from more actual bids."
Why are other bids "more actual" than the HFT behaviour bid?

Any colour you like.

Samroski
Middle-Earth
#14 - 2013-06-12 10:33:44 UTC
arabella blood wrote:

Idd, the game atm shows a number, the one that is lesser of evil.
It by no mean should "push" you in the right direction, the number atm shows a "fact" - regional average, no?

Your argument above is irrefutable, thus I withdraw my suggestion.

The game should never push you in any direction, thus I'm now happy with whatever price the game wants to show.

Any colour you like.

arabella blood
Keyboard Jihad
#15 - 2013-06-12 10:39:45 UTC
Samroski wrote:
arabella blood wrote:

Idd, the game atm shows a number, the one that is lesser of evil.
It by no mean should "push" you in the right direction, the number atm shows a "fact" - regional average, no?

Your argument above is irrefutable, thus I withdraw my suggestion.

The game should never push you in any direction, thus I'm now happy with whatever price the game wants to show.


Can't figure out if mocking me, or did i just won an argument on the internetz Big smile
If so, you are a great man and your friends are lucky :)

Troll for hire. Cheap prices.

Caleb Ayrania
TarNec
Invisible Exchequer
#16 - 2013-06-13 00:01:12 UTC
The HFT in EVE is the culmination of humans bidding. A tinfoil hat would bring in the alleged market bots, but its irrelevant in the context. HFT is what happens when 2000 people are bidding and competing in a patty cake market..

The problem with this behavior is that there is nothing to discourage it. The price/cost of trade is the same whether your trading in huge volumes or small ones. This would not be a problem if we did not have the current market order limitation, since players would find ways to optimize and utilize the bidding wars to their advantage. The problem is that the playing field has been forcefully levelled by cpp mechanics. So effectively the big bulk market gets pushed out and the micro trade dominates. This is because EVE have a mixed market of exchange and retail, which is somewhat detrimental to pricefinding and market efficiency.

Jita is maybe the only market that can be said to actually "work".. the remaining situation in EVE is that there are practically no market saturation (coverage of items at real prices)..

The reason for these things is all about how manhours of traders are used. Right now most of it is used on microbidding wars in Jita and in the 4 other hubs. Being limited in number of contracts and market orders traders are forced to only cover markets that they prioritize as relevant. There is no way to support trading the less active items. This means all items that arent super volume movers are only traded in Jita, and to some extend the other hubs.

The instant gratification and short term thinking dominates the economy, and is creating a huge amount of passive and dead assets. This is not in itself a problem, the problem is in that its not an invisible hand but a forced one by ccp features and limitations.

This is why a feature like the suggested helps this on a small scale by reducing wasted time on 0.01 patty cake bids on practically everything.

Ideally what ccp should do to fix / tweak market is remove the market order and contracts limitation, and change the skills to a reduction in cost. the cost should be made dynamic like office rent and flipped so broker fee go up and tax goes down with frequency, and reverse in low activity stations/systems.

Such changes would "heal" the markets that are currently not very efficient, and improve game play for all not just traders.

arabella blood
Keyboard Jihad
#17 - 2013-06-13 08:33:12 UTC
Wouldn't you suggestion benefit too much for a trader/big bulker more then to an average player.
What will happen to the 1 dude who wants to sell 1 plex to start his game?

Troll for hire. Cheap prices.

Caleb Ayrania
TarNec
Invisible Exchequer
#18 - 2013-06-13 10:30:00 UTC
arabella blood wrote:
Wouldn't you suggestion benefit too much for a trader/big bulker more then to an average player.
What will happen to the 1 dude who wants to sell 1 plex to start his game?


Well in Jita the price would be near perfect.. So he would check the trend line to see if he should hold, or sell to the current buy order. Since the margin would be pretty narrow.

So I dont understand the "average" player argument.. The market healing is for his optimal benefit..

If he wants to get into trading he will start somewhere outside Jita with less competition..

Unless he is fine with risking a lot of isk and microbid warring on Jitas Exchange market. Though he would risk loosing out fast due to brokerage fees and taxation if his volumes are to small.

This would mean he would invest in player created "portfolios" if he wanted speculations directly related to Jita..

The simplest way to make isk as a trader is find out where people are and "mirror" Jita markets price with a slight profit for themselves. This is called SERVICE, and will potentially make these average players and new players a lot better profit margins..

arabella blood
Keyboard Jihad
#19 - 2013-06-13 11:32:45 UTC  |  Edited by: arabella blood
Understand your offer consist of 2 parts.
1. Selling many items will get you lower tax.
2. Selling far from jita/hubs will get you lower tax.

Both mechanics are similar to our worlds mechanics, somehow.
Except with the modern tax systems they stopped to exist. Countries take VAT no matter how big is your stock :)
Countries sometime encourage markets in dessolate locations by reducing VAT so traders could start there, but soon after the market established, the VAT is returned to normal.
So i say that with your suggestion hubs gonna appear all over the place to a point when we will have small amounts of everything everywhere. Is that what you meant by "healing" the market?

I think your idea is cool, although im not sure i fully understand it because my english is bad :(

Just playing with it:
1. Sov holders could determine brokers fees in their station and get the cash.
2. Different npc corps (navy, concord etc.) will have different tax.
3. You no longer gring only amarr/navy standings, but also many other more
4. Standings toward a sov alliance will have more economic roles.

1 problem though is that in the first time of transition to the new system, the rich will get richer the poor will get broke and the middle class will dessapear.

Edit: besides, you are focusing the game too much about market, which is cool for you and me, but i guess others do some other **** as well

Troll for hire. Cheap prices.