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Feedback Request - Margin trading and accurate market UI

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Author
Tippia
Sunshine and Lollipops
#201 - 2013-11-23 02:15:46 UTC  |  Edited by: Tippia
Aryan Kerrigan wrote:
Elimination of margin trading scams is not the real focus of the discussion.

The only reason CCP is concerned is because their market UI is not representing information accurately to the users and this can be exploited. Yes, it most notably enhances market trading scams, but that is just one byproduct of the issue. If you are to fix "margin trading scams" it should be more of an accidental benefit from your solution to the real issue at hand. The focus should be on how to more accurately represent information to people on the market without gutting or gimping margin traders. It's a bit harder to tackle because you are lying in a sense about how much isk you are pushing onto an order.

The question is, what's “not accurate” here? I think that's the major hang-up for me.

The price is accurate if the ISK is there, and tbh, I don't really see that the state of someone else's wallet is my business. Not to mention that this state will change from one second to the next. Imagine the server load if the market is supposed to check every order for “margin trade” flag and then poll each and every one of those wallets every time someone pulls down the market info for an item… and even then, it'll be inaccurate unless it pushes updates to everyone watching at any time when any of those wallets change. Ugh

I still only see inaccuracies in people's assumptions about what the market window is telling them, so the better strategy to my mind is to go after those assumptions. A market order is a market order is a market order. Some fail (for any of a myriad of reasons) and some will go through, and I'm already fully protected regardless since no trade ever takes place without both sides getting what they asked for. Maybe if some of the price history or deviation-from-average information was moved directly to the market listing itself rather than hidden in a separate tab or in the buy/sell dialogue? That would give the double information of “here's the potential offer, and here's what the market says it's actually worth in practice”.

The mechanics work. The information and education about them less so. The notion that some orders should be market is fraught with technical problems, not to mention that it would largely be pointless anyway unless they completely reprogrammed how the market worked. Yay, now the MT orders are highlighted… so what? That will still be the vast majority of them, which means there's too much noise to make any good decisions anyway. And I'll still can't pick who I'm buying from or selling to, and “fixing” that makes the market inefficient. Those who are afraid of not getting their stuff sold are still better served by the price history, because that's where the information they need sits.

Drab Cane wrote:
Remember, we're only trying to fix a particular edge case: to keep a greedy, careless player from endangering his wallet. This feature would give him the warning that all may not be as it appears.

Why does this edge case need to be fixed? Especially considering that it's not really what we're trying to fix, which is any supposed inaccuracies in the market UI… if any such can really be determined.
Molic Blackbird
Orion Faction Industries
Orion Consortium
#202 - 2013-11-23 03:09:14 UTC
Just going to add my voice to those that want better education of new players and not a change to a useful skill. I can not see any change that doesn't in some way nerf the effectiveness of the skill and any change doesn't fix the problem as market scams could still happen even if the skill is removed.
Arya Regnar
Darwins Right Hand
#203 - 2013-11-23 03:57:30 UTC  |  Edited by: Arya Regnar
Make it so you escrow enough isk to cover 1 unit on every buy order.

Or make this apply when there is no competition on buy orders.

Essentially limit min q to 1/5th of buy order total q since escrow minimum caps at around 1/4 to 1/5 and make it so if someone tries to sell max q he gets asked if he wants to fill 1/5 because the placeholder of buy order hasn't got enough isk.

That way you don't ruin regional buy orders with min q where people try to prevent hauling too small amounts of minerals ammo and similar things.

Another way is to prevent minimum q on items with discontinued curves. IE useless t2 rigs and commodities.

If you have 1/5 tot as minimum q then the escrow minimum represents a full coverage of minimum amount which allows players to place full cover full minimum buy orders with their wallets otherwise dry which means you are given an option and minimum q scales up with the size of your investment.

Also make it so buy orders don't disappear if there is an unsuccessful attempt to fill them and make the cancellation of such buy order have a 5 minutes delay which you start by attempting cancellation when you have wallet incapable of covering the full amount of it, to prevent scripted cancellations when a would be bot detects that contract selling "rare item" has been filled and the order will incur a loss because of fake display of its value. The buy orders are to disappear when the escrow + isk in wallet fall below 1/5 of buy order tot.

The fully coverable orders could still be instant canceled by the owner but at least then the guy would bear the risk of someone gathering such "rare items" and incurring a big loss upon the scammer.




Example 1
Total in Escrow: 237,304 ISK (additional 762,695 ISK to cover)
Buy orders total: 1,000,000 ISK
Q:5
Min Q:1

Example 2
Total in Escrow: 474,608 ISK (additional 1,525,390 ISK to cover)
Buy orders total: 2,000,000 ISK
Q:10
Min Q:2

If scammer watches contract or whatever source of sell form he has he can still cancel the order by selling 1/5th of the items to himself. But that would already be a severely diminished effect.

EvE-Mail me if you need anything.

ihcn
Life. Universe. Everything.
#204 - 2013-11-23 04:44:23 UTC  |  Edited by: ihcn
As a former margin trade scammer, one of MY biggest problems with the mechanic, from a game design point of view, is that the buy order escrow gets depleted before the player's on-hand cash is touched.

This allows a margin trade scammer to make the buy order for two items instead of one - then he or she sells one of the items back to themselves for exactly the amount in escrow, then empties the cash out of their account.

The less experienced scammers don't do that though. They just train margin trading and then put the officer mod or w/e up to buy. When this happens, even if there is 0 cash in the account, you can still sell the item to the buy order for a minimum of 25% of the buy order's listed value.

If you set it up so that escrow gets depleted proportionally to on-hand cash, then scammers no longer have a way to completely empty out their accounts. Counter-scammers can then sell items into the buy orders at 25%. You'll find that the number of margin trade scammers will dry up really damn quick if it's possible to take their money from them.
TheSmokingHertog
Julia's Interstellar Trade Emperium
#205 - 2013-11-23 05:40:57 UTC  |  Edited by: TheSmokingHertog
Before reading the replies of others, my first thoughts;

If we would choose the CSM option, my trading alts need the option to place an order as Secure or as Margin traded. So it would require an option that you have to select.

Extra's after that;

Like Matthew said before, this could also be done by reimbursement of the Margin Trade skill and offer anyone this choice, it would even out the playing field. The anonymity problem as set out by Matthew would not be solved. A rating system per player on failed orders could be a sign. Make this a rolling average over X time though, so alts can be sold and restored to be good traders.

If a cancel order option would be chosen based on the Escrow amount, I would like to be able to manage my Escrow amount, I would like to deposit / take out money on my preferred times. Also the approach 'time factor in market activity' as set out by Miranda McLaughlin is an issue herein.

And what Gizznitt Malikite said. No change is required, you are just protecting lazy people. The extra input as when the order is colored, that people stil will trust the market, and the symtom will return is posted by Gizznitt Malikite already. The idea to let players choose to perform a risk assessment would mitigate this problem. People can be made aware of this function in the Tuturials of Aura.

The "Corner the market" concept by Banlish is very true by full vision. I would use it too. And build the proposed log, not just for buyorders, but for all of them. A orders history tab.

The skill to find out who is working your market, should not be just rushed out of the game. Its a proffession practiced by a lot of traders that want an edge on the market. Displaying names as suggested by Gizznitt Malikite and Armakoir would do so. Another market skill, as mentioned by Gizznitt Malikite, - Draining your Escrow - , is also a function not utilized by a lot of players.

The market Agents as proposed by Gizznitt Malikite would really make for a more exiting market PVP, please add those to the game anyway ;).

The proposal of Berluth Luthian to effect standings to Corporations and Empires of the station that you perform the Market scam in would be a great addition in market PVP too. The "Because of throwaway alts." argument by Abdiel Kavash is not valid, because a player recycling a negitive standing alt, is crossing with EULA, since its deemed an exploit. (I cant find a link to the DEV posting of this)

"Dogma is kind of like quantum physics, observing the dogma state will change it." ~ CCP Prism X

"Schrödinger's Missile. I dig it." ~ Makari Aeron

-= "Brain in a Box on Singularity" - April 2015 =-

TheSmokingHertog
Julia's Interstellar Trade Emperium
#206 - 2013-11-23 06:01:47 UTC
Noriko Mai wrote:
Gizznitt Malikite wrote:
What if CCP just told everyone that buy orders are NOT GUARANTEED....


Why should a buy order be not guaranteed? It's one thing if you are late and someone else filled it, but if you are in time and can't sell because of some ingame mechanics...
I think at least the minimum volume or 24% (the higher of this two) must be guaranteed.


Do you know that a lot of manufacturers get payed after the sale in the store itself, or even 90 days after the sale of an item? ... so that can be weeks / months after final construction. So 'buy' orders from those manufacturers are all filled by people who have no guarantees at the moment of a default by the retailer. None. (An example is DELL).

Those industrialists trust the buy orders, because of research (Balance Ratio's, Stock price, Ratings) ... just like you can do in EVE. Trading is a risky business, dont go into it blind. No change would be needed to the current system.

Helping inexperienced people is another matter entirely. Showing them that margin traded orders are around would not be a problem in my view.



"Dogma is kind of like quantum physics, observing the dogma state will change it." ~ CCP Prism X

"Schrödinger's Missile. I dig it." ~ Makari Aeron

-= "Brain in a Box on Singularity" - April 2015 =-

TheSmokingHertog
Julia's Interstellar Trade Emperium
#207 - 2013-11-23 06:12:46 UTC  |  Edited by: TheSmokingHertog
Abdiel Kavash wrote:
Instead of cancelling the order, can you just hide it while the buyer doesn't have enough money to cover buying the minimum volume? A hidden order will not be visible in the market window, and won't be attempted to be sold to. When the buyer acquires enough ISK to cover the minimum quantity, the order will appear again.

This does nothing to legitimate traders, as your order is only hidden while you wouldn't be able to utilize it anyway. Even better, your order won't be cancelled and you won't lose broker fees if you temporarily run out of money and someone tries to sell to you. Scams would be obviously eliminated.

I agree that scams using deceit, misplaced trust or false advertising are okay. Scams using faults of deficient UI are bad. (And the correct solution is not to hand out bans, but to fix the UI problems in the first place.)

"Don't count on the order being displayed being there tomorrow" (or in an hour) is a good rule. "Don't count on the order being displayed being there *now*" is bad UI.


But consider that then "hidden" orders should still use up Order Slots on your characters account.

"Dogma is kind of like quantum physics, observing the dogma state will change it." ~ CCP Prism X

"Schrödinger's Missile. I dig it." ~ Makari Aeron

-= "Brain in a Box on Singularity" - April 2015 =-

TheSmokingHertog
Julia's Interstellar Trade Emperium
#208 - 2013-11-23 06:52:45 UTC  |  Edited by: TheSmokingHertog
Xqpvqsvs Qr'atyuqink wrote:
...

And this is the best way to do it, well maybe except of fix where u are placing exact amount of isk into order u are creating. Its simple and easy to understand. Every other way will be time consuming and wont work as good. Reason is simple - world just doesny work like margin trading skill. ...


The world works exactly like this.

Banks work with 'Leverage' on loans, on inter-banking loans, etc. Its how the world is financed.

Another example of this in RL is Corporations on the end of supply chains who 'Leverage' risks by moving the risk to the manufacturers in the world. The bigger the retailer, the higher the Leverage they put on their debt. Think a Wall-Markt, DELL, Amazon, etc.

"Dogma is kind of like quantum physics, observing the dogma state will change it." ~ CCP Prism X

"Schrödinger's Missile. I dig it." ~ Makari Aeron

-= "Brain in a Box on Singularity" - April 2015 =-

Vladimir Norkoff
Income Redistribution Service
#209 - 2013-11-23 07:28:55 UTC
TheSmokingHertog wrote:
The world works exactly like this.
Amazingly enough though, the real world is not EvE. You don't get to biomass yourself and start over to avoid consequences. When you screw somebody over in EvE, they don't get to take you to court for fraud and have you thrown in EvE-jail. EvE is a game. It does not adhere to real life examples.
hmskrecik
TransMine Group
Gluten Free Cartel
#210 - 2013-11-23 08:39:51 UTC  |  Edited by: hmskrecik
The whole thread is rather out of my main areas of interest so I'll just drop my two cents. Apologies if it was already covered

Thomas Hurt wrote:
Automatically cancel any orders where the 'Minimum Buy Volume' * 'Price per unit' is greater than the amount in your wallet

plus

Vincent Athena wrote:
Another possibility is not canceling the order, but temporarily suspending it. The order would be reactivated automatically if and when funds become available.


I think addresses it best. Not even need to issue reactivation penalty. Legit trader can find himself low on cash and so orders will be suspended (should be removed from the list or marked as such). Scammer can still scam but then he has to work on it, as opposed to almost effortless thing we have now.

Server load is a matter of proper algorithm. Just out of whack one thing which comes to mind is to create sorted high watermark list for each trader, which list could be checked against balance change. Another improvement would be to make it delayed operation (like ticks from missions) which incidentally could open interesting possibilities with scammer having 20 minute window when he can pull it off like in old days.
RinnosukeETQW
The Scope
Gallente Federation
#211 - 2013-11-23 08:55:40 UTC
While we're on the subject (I actually don't care about the margin scams BTW, let it stay really) please give us the option to turn margin trading on and off, I have orders I'd like to use the skill and orders I'd like to keep from the skill, I'd like the ability to pick and choose.
Hel O'Ween
Men On A Mission
#212 - 2013-11-23 12:59:22 UTC  |  Edited by: Hel O'Ween
hmskrecik wrote:

Vincent Athena wrote:
Another possibility is not canceling the order, but temporarily suspending it. The order would be reactivated automatically if and when funds become available.


I think addresses it best. Not even need to issue reactivation penalty. Legit trader can find himself low on cash and so orders will be suspended (should be removed from the list or marked as such). Scammer can still scam but then he has to work on it, as opposed to almost effortless thing we have now.


This suggestion breaks the whole arbitrage trading profession. I know my market, meaning I know how fast items move. I set up buy orders accordingly. Most of the time these buy orders will never be fulfilled by one sale to them, but in parts.

I.e. a buy order for 10 Drakes sells me 1 Drake a day. My wallet could never cover the 10 Drakes as a single transaction, but it covers 1-2 Drakes/day. The 1 Drake I buy each day will be relisted for sale and typically sells in 1 day, covering the remaing 8-9 Drakes in buy orders (and other buy orders, too). This is espacially true with partially filled buy orders, as escrow is consumed first (which relieves your wallet) but as escrow is spent, the pressure on your wallet even becomes harder, as you now have to pay in full for the item you bought.

Stop thinking in 1 item buy/sell trades. Think in 150 different items, with different "paves", different profit rates, different escrow amounts

EVEWalletAware - an offline wallet manager.

Careby
#213 - 2013-11-23 12:59:32 UTC
I'm glad this is being looked at. I am not against scamming, but I also think market information should be clear, accurate, and reliable. The idea that players should know what's too good to be true ignores the fact that many times there are legitimate deals that should be too good to be true. If someone beats me to them, that's fair, but if they were a lie, then it's the market that lied to me and not the scammer. The market should never lie.

Most of the ways I can think of to improve the margin trading mechanic would add considerable server load. As a constant user of margin trading, I don't want to lose the benefits, but I would be willing to give up a little for the benefit of the market.

So my current thoughts are:

1. The margin trading skill/benefit should not apply to the first or only buy order placed. If you only have one order, there should be sufficient funds earmarked to cover it 100% (price times quantity). If you don't have enough ISK to cover the total quantity of one buy order, you should not be placing an order for that quantity.

2. If you have two or more active buy orders, your encumbered funds (escrow) should cover at least 100% of the most expensive one (price times quantity).

3. When a buy order fills, a calculation could occur which compares your escrow to your most expensive remaining buy order, and adjusts the escrow to cover it. If you do not have wallet funds available to add to your escrow, all unfillable orders would be suspended, and would no longer show up in the market.

4. Suspended orders could be shown in your orders list, and re-instated when your wallet balance increases enough to adjust your escrow, either automatically when another order is filled and the escrow calculation is performed, or possibly manually by right-clicking the suspended order.

Vol Arm'OOO
Central Co-Prosperity Union
#214 - 2013-11-23 14:05:17 UTC
IMO it should be left as it is. The fun of the eve market is that it approximates a rl market. There is a fundamental difference though - where as in eve you have access to what amounts to close to perfect knowledge, in RL things are substantially more fuzzy. The perfect knowledge problem results in an endless round of .01 games, which is tedious and not much fun (again imo). The "margin scam" adds uncertain to the market, making it more unpredictable and interesting. It is a balance to the perfect knowledge problem. If ccp feels that something must be done, because the UI appears to be lying - just add a pop up message - something like "hey dummy - if it looks too good to be true - it is."

I don't play, I just fourm warrior.

hmskrecik
TransMine Group
Gluten Free Cartel
#215 - 2013-11-23 14:34:28 UTC
Hel O'Ween wrote:
hmskrecik wrote:

Vincent Athena wrote:
Another possibility is not canceling the order, but temporarily suspending it. The order would be reactivated automatically if and when funds become available.


I think addresses it best. Not even need to issue reactivation penalty. Legit trader can find himself low on cash and so orders will be suspended (should be removed from the list or marked as such). Scammer can still scam but then he has to work on it, as opposed to almost effortless thing we have now.


This suggestion breaks the whole arbitrage trading profession. I know my market, meaning I know how fast items move. I set up buy orders accordingly. Most of the time these buy orders will never be fulfilled by one sale to them, but in parts.

I.e. a buy order for 10 Drakes sells me 1 Drake a day. My wallet could never cover the 10 Drakes as a single transaction, but it covers 1-2 Drakes/day. The 1 Drake I buy each day will be relisted for sale and typically sells in 1 day, covering the remaing 8-9 Drakes in buy orders (and other buy orders, too). This is espacially true with partially filled buy orders, as escrow is consumed first (which relieves your wallet) but as escrow is spent, the pressure on your wallet even becomes harder, as you now have to pay in full for the item you bought.

Stop thinking in 1 item buy/sell trades. Think in 150 different items, with different "paves", different profit rates, different escrow amounts

Please try to read and understand. If you set buy order for 10 Drakes with minimal purchase of 2 Drakes then by this proposal you need to have enough in the wallet to cover purchase of 2 Drakes. If you didn't have this money your order wouldn't work anyway, would it?

And the part with suspension I like is that when you actually don't have this money, your order goes inactive but when you get some back, order reactivates. Normal traders aren't hurt.
hmskrecik
TransMine Group
Gluten Free Cartel
#216 - 2013-11-23 14:43:25 UTC  |  Edited by: hmskrecik
hmskrecik wrote:
....

Or maybe simpler solution? Enforce full, 100% escrow for minimal purchase and apply Margin Trading for what is above?

Edit: or set escrow to MAX(normal amount after skill applied, amount needed to purchase minimal volume)?
LittleTerror
Stygian Systems
#217 - 2013-11-23 15:33:39 UTC  |  Edited by: LittleTerror
Electrique Wizard wrote:
LittleTerror wrote:
The market interface is not lying to anyone, if they had checked the price history they wouldn't be so bloody stupid...


LMAO encouraging EVE players not to be stupid Roll


As opposed to changing the game to cater for the stupid?

ah nvm then...
Sable Moran
Moran Light Industries
#218 - 2013-11-23 16:08:38 UTC
Molic Blackbird wrote:
Just going to add my voice to those that want better education of new players and not a change to a useful skill. I can not see any change that doesn't in some way nerf the effectiveness of the skill and any change doesn't fix the problem as market scams could still happen even if the skill is removed.


Concurring, especially the bolded part.

After reading the thread it looks like any changes done here would only make life more difficult for the legitimate users of the skill instead of curbing the malicious users. Actually implementing the change without breaking anything doesn't sound too easy either, so much trouble to fix such a small 'problem'.

So why change anything? I mean the skill itself is working fine, it does it's jobs exactly as advertised, no change needed. Without that skill I would not have been able to build up my little ammo shop to the expansive arms dealing empire that it is Blink and it helps other entrepreneurs every day to build up their dreams.

All that really is required is maybe moving some info from the 'Price History' tab to the 'Market Data' tab and definitely add some educational sections about market on the NPE.

Sable's Ammo Shop at Alentene V - Moon 4 - Duvolle Labs Factory. Hybrid charges, Projectile ammo, Missiles, Drones, Ships, Need'em? We have'em, at affordable prices. Pop in at our Ammo Shop in sunny Alentene.

Gizznitt Malikite
Agony Unleashed
Agony Empire
#219 - 2013-11-23 17:22:02 UTC  |  Edited by: Gizznitt Malikite
Two points that I want to re-emphasize:


1.) No change is needed if you inform players that Buy Orders are Not Guaranteed!!! All competent in game traders know this and operate under this assumption already. The new guy that isn't familiar with the mechanics behind the Margin Trade order incorrectly assumes that buy orders are guaranteed, especially since the vast majority of buy orders complete without fail. Education is what is truly needed, not a change in game mechanics.

2.) It seems absolutely ridiclous to me to spend computer overhead monitoring peoples wallets and continuously updating the market interface just to make the market idiot-proof. I'm sorry, I want that server load going to something that matters, not protecting incompetent and/or greedy wanna-be traders. As such, I see only one implementable solution that will protect these under-educated individuals. This has already been brought up before, but here's the gist:

Market Check Function wrote:

The Market Check Function:

This tells our "broker" to verify that enough funds exist to cover the minimum purchase of a buy order:
-- To implement, right click on a buy order and click verify.
-- If funds exist to complete a minimum buy amount, you are told everything is in order.
-- If funds do not exist to complete a minimum buy order, the order is automatically canceled.

This should cost isk to use (like 50k isk to perform this check).
Pro's:
  • Doesn't waste enormous amounts of my precious server time.
  • It allows for players to police the market.
  • It is an isk sink.

  • Cons:
  • It will effectively destroy margin trade scams.
  • It doesn't cost enough... Really, it should cost 20m isk to perform this check!


  • I'd like to point out, that the market is pretty fine as is, and the proposed changes aren't about "keeping the interface honest". The interface is completely honest.:
  • If it says there is a buy order there, and there is a buy order there.
  • If you make a trade, it either goes through using the proposed terms of a buy/sell order, or the transaction fails and neither party loses out.

  • Let's examine the behavior that brings up this discussion:
    1.) People incorrectly assume buy orders are guaranteed. This means some more education is necessary.

    2.) Traders simply want to eliminate/reduce their risks. By making buy orders guaranteed, a huge amount of the risk in trading goods is simply eliminated. Why would CCP want to do this, to an already low-risk, high profit profession? Hell NO.

    I still have yet to hear anyone adequately answer:
    Why should buy orders be guaranteed?
    Feledain
    Elmsfeuer
    #220 - 2013-11-23 18:18:24 UTC
    I dont trade much but oh well, my solution would be:

    If a sale fails, singel item:
    The seller get whatever money there was to cover the order. The item is kept in limbo till either the buyer manages to get the money and complete the order (1 per day check if the isk are there) or 1 month has passed and the seller gets the item back + keeps the money.
    Multiple items:
    The seller sells the amount of items the buyer can back up and gets a pop up with the buyers name and the question if he wants to sell and wait till the money comes (up to 1 month) or want to keep the rest of his stuff.
    Either way the buy order is taken from the market for 1 day. And the buyer gets an Eve mail.
    Or the order stays, this would probably create some awareness that buy orders are not 100% secure.

    It does not prevent margin trade scams, but maybe helps a bit.