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Trips
Oct Member 2014

Trips

Posts: 1,766 Mithril Posts by user Forum Profile RuneMetrics Profile
Personally, I used the for awhile to help decide on a low or high end. Having 50m trades below/ablve the confirms would adjust the range 10-20m below or above the highest trade. I felt as though this was fair given there were often more unconfirmed than confirmed trades.

I did this for awhile until 3-4 people started complaining that we shouldn't be selectively choosing when to use unconfirmed trades or not. Their complaints continued through many days and posts on v32 arguing we should either use all the trades or only confirmed. I eventually chose to just ignore unconfirmed trades since then.

Overall I think allowing unconfirmed trades to have a mere fraction of influence of the range is a good middle ground, but that's just my opinion.

05-Mar-2016 16:07:11

Hyles
Feb Member 2023

Hyles

Posts: 6,699 Rune Posts by user Forum Profile RuneMetrics Profile
Just thought I would post on the topic of using unconfirmed trades even though my opinion probably means very little at this point in time...

I think that taking unconfirmed trades into consideration is a very good practice when done properly. Because of the current regulations regarding ranges and the way in which ranges are decided, if the unconfirmed trades are well outside of the average trade values for other trades, they will be ignored as outliers, and if they are close to the average trade values, then they just reaffirm the suggested range. I don't think that unconfirmed trades should be able to be relied upon to set the upper and lower limits (ex. if there are 3 unconfirmed trades above all of the confirmed trades, the upper limit of the range should not exceed the value of the highest confirmed trade), but they can certainly be used to help give a more "accurate" picture of the current market.

Back when I would update/suggest updates for ranges, I always kept a list of both confirmed and unconfirmed trades, and although I would not rely heavily upon the unconfirmed trades, I would still use them as a reference for what the current market situation was (especially when the trades came from players I considered trustworthy).

I still stand by my opinion that ranges should be abolished and replaced with an "average" (not as defined mathematically but instead by using logic and knowledge of the current P-hat market situation) value of past reported trades. I feel that by using this methodology, there would be less of a constriction of "acceptable values" as is assumed by using a range, and I feel that it would be easier to update. A single value PC is less susceptible to volatility in my opinion. I understand that many feel the opposite, but as I said, this is just my opinion.

Hope everyone is doing well!

Hyles
~Hyles~

"The man who acquires the ability to take full possession of his own mind
may take possession of anything else to which he is justly entitled."
~Andrew Carnegie

05-Mar-2016 20:13:28

Ferenc2017

Ferenc2017

Posts: 9,575 Rune Posts by user Forum Profile RuneMetrics Profile
^ That's exactly what i meant (the unconfirmed trade part).

This makes ranges much more accurate cuz people try to keep prices high/low to buy back cheap or sell high by not confirming their trades.


Everyone got used to ranges and i don't think it's a good idea to change that. But an average would make them move more freely. But i think the change would be too much.


Ty for your post :)
Ferenc2017
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05-Mar-2016 22:57:38

Hyles
Feb Member 2023

Hyles

Posts: 6,699 Rune Posts by user Forum Profile RuneMetrics Profile
Ferenc2017 said :
Everyone got used to ranges and i don't think it's a good idea to change that. But an average would make them move more freely. But i think the change would be too much.


Normally I agree 1000% that FC policies, rules, etc. should be changed as little as possible. With an FC that has been around for so long and that has had such great success, at some point you just have to settle for the fact that there is no longer room for improvement.

With that said, I used to be able to PC with only 1 range, and then that went up to 2 ranges, and on and on until now we have 7 ranges. At the same time, we have seen individual player wealth grow exponentially to what it is at now.

The people that actively trade party hats usually know that the ranges are not "accurate" due to the fact that they are inherently outdated since they are created with trades that were made in the past. So few confirmed trades are reported that the actual market value for a hat can be ±100m outside of the range. I think that a single number PC could be better understood and more easily updated to represent a fair market value for each PHat.

However, I think that most players would prefer to just keep the system how it is, so I will not argue my point any further. As always, the FC should go with the majority vote, which we have always done and should always do.

I like the current system, I like my proposed system, no matter which system we use, I win. That's exactly the kind of situation I like to be in, one in which I can't lose. :)
~Hyles~

"The man who acquires the ability to take full possession of his own mind
may take possession of anything else to which he is justly entitled."
~Andrew Carnegie

06-Mar-2016 01:16:45

Hyles
Feb Member 2023

Hyles

Posts: 6,699 Rune Posts by user Forum Profile RuneMetrics Profile
^That idea will need all the support it can get in order for it to become a reality, so make sure you go leave a post showing your support/input!!!
~Hyles~

"The man who acquires the ability to take full possession of his own mind
may take possession of anything else to which he is justly entitled."
~Andrew Carnegie

11-Mar-2016 20:51:57

Hyles
Feb Member 2023

Hyles

Posts: 6,699 Rune Posts by user Forum Profile RuneMetrics Profile
Happy birthday R Quark!

P.S. R Quark is obviously a he and not a she.

Edit: Just realized I misspelled "Quark" :P
~Hyles~

"The man who acquires the ability to take full possession of his own mind
may take possession of anything else to which he is justly entitled."
~Andrew Carnegie

18-Mar-2016 22:21:53 - Last edited on 26-Mar-2016 02:02:46 by Hyles

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