ICBIT Derivatives Market (USD/BTC futures trading) - LIVE - page 45.

Fireball

hero member

Activity: 674

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Quote from: Stephen Gornick on August 31, 2012, 06:16:40 PM

Why are the buy and sell prices so "sticky"?

Well, this situation is well known in "bigger" future markets too - contango or backwardation situation. And it's quite normal for a futures to be in either contango or backwardation most of the time.
It means that the majority of participating traders (be it humans or bots) are expecting the exchange rate to be rouhgly at $12, and today's sell-off on the spot market is a temporary event.

Of course, majority may very well be wrong.

Quote from: Stephen Gornick on August 31, 2012, 06:16:40 PM

Holding this BUZ2 through settlement then, does that mean I would get bought at $9.75?

Yes, that's right.

Stephen Gornick

legendary

Activity: 2506

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Why are the buy and sell prices so "sticky"?

The BTC/USD spot market just dropped 15% but the buy and sell for the BUZ2 contracts dropped only a few percent ... (sell dropped from $13.5 to $13.3, and buy droped from $12.6 to $12.3 roughly)

Sell Price Buy 1 13.57 3 13.5 70 13.4 100 13.39 1 13.3 12.31 10 12.3 30 12.03 20 12.02 50 12 54 Range 11.6055 - 14.1845

Just to make sure I understand... so let's say I sell one BUZ2 for $12.31 and have -1 contract.

And currently the spot price is $9.75. Le'ts say the spot price doesn't move ... the spot price sits at exactly $9.75 until December 15th when BUZ2 expires.

Holding this BUZ2 through settlement then, does that mean I would get bought at $9.75? (or am I only receiving the daily variation margin transactions ... which, in this case are $0 because I'm using the unlikely scenario where BTC/USD doesn't move up or down between now and expiration).

Ragnar17

newbie

Activity: 55

Merit: 0

ok thanks thats what I thought...Multiple contracts would be really nice though

[Tycho]

hero member

Activity: 742

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Quote from: Ragnar17 on August 22, 2012, 07:41:20 PM

This might be a pretty dumb question, but how can you tell what date the futures expire?

Click on the contract specification link - at the right side of instrument selector.

Settlement date for BTCUSD-12.12 will be 15.12.2012

Ragnar17

newbie

Activity: 55

Merit: 0

This might be a pretty dumb question, but how can you tell what date the futures expire?

Also, are there futures contracts with different expiration dates (ones with longer or shorter durations)?
If not that is something you should look into because that would be awesome.

DeepBit

donator

Activity: 532

Merit: 501

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Quote from: Ichthyo on August 18, 2012, 05:49:15 PM

On the "exchange tab", there shows a new instrument called "DB.RCLMR". The Input fields are labeled "Price per one bond in BTC".

Any explanation?

This security will be used for pre-orders of our ASIC miner.

Ichthyo

hero member

Activity: 602

Merit: 500

On the "exchange tab", there shows a new instrument called "DB.RCLMR". The Input fields are labeled "Price per one bond in BTC".

Any explanation?

Fireball

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Activity: 674

Merit: 500

Quote from: Ichthyo on August 07, 2012, 08:53:32 PM

maybe I don't understand those entries correct, or maybe some entries got mixed up with other accounts?

I sent a detailed PM with raw logs, however I couldn't find any problem. As for so-called "mix up", that was a one time order representation problem which is definitly fixed now, and furthermore, it did not affect the trading history, it affected only live view of a user's orders list.

Ichthyo

hero member

Activity: 602

Merit: 500

since (probably) yesterday, something doesn't look allright with my trading log in ICBIT.s

This history view shows several "sell" entries. But I'm sure I didn't create any of them, because

I wasn't online at that time
I am short and rather tend to buy back

On a related issue: I did indeed place "buy" orders in that range. Most of them disappeared from my orders list. Yet my total balance of open contracts didn't change.

maybe I don't understand those entries correct, or maybe some entries got mixed up with other accounts?

Fireball

hero member

Activity: 674

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Quote from: Ichthyo on August 03, 2012, 07:26:45 PM

Quote from: Ichthyo on August 03, 2012, 06:24:46 PM

Now there is a very surprising order in my account.

...and now that order shows up as "filled" and remaining == 0, but my position balance hasn't changed, its still at -55
(I did hit refresh and I even logged out and in again)

Indeed it was a minor problem accidentally introduced yesterday during update. What happened is that your orders list did not get updated and indicated that you owned order id 2, when in reality this was another person's order. Of course, you could not do anything with it (it was not yours), but you could view it.

This problem is resolved now, and an integrity checker is now in place which would occasionally check and report such situations in future (though they should not occur anymore, but better safe than.. you know Wink

.

Ichthyo

hero member

Activity: 602

Merit: 500

Quote from: Ichthyo on August 03, 2012, 06:24:46 PM

Now there is a very surprising order in my account.

...and now that order shows up as "filled" and remaining == 0, but my position balance hasn't changed, its still at -55
(I did hit refresh and I even logged out and in again)

Ichthyo

hero member

Activity: 602

Merit: 500

Now there is a very surprising order in my account. To my best knowledge, I didn't open that order (at that time, 19:53, I wasn't even at my PC; moreover, I do not want to go long right now). Also notice the strange oder ID = 2.

Anyway, I tried to cancel that order, but the system gave no reaction. (tried that with multiple browser versions as well).
Well, I wouldn't be overly unhappy if that order was filled right now Grin

Any Idea what's going on here?

PS: the time display in this "Your orders" list should be UTC as well (as used on the history tab)

Ichthyo

hero member

Activity: 602

Merit: 500

...there is another minor problem with the "funds" tab: right now, it doesn't display completely on the firefox/iceweasel coming with Debian/stable. Well, who cares for debian/stable. It's an quite outdated browser version (Firefox 3.5.16). The problem is, when choosing "withdraw", there is no ComboBox to choose the method, nore are the imput fields for the address visible. There is only the table with the last transactions.

I've checked the same page in Firefox 7.0.1 and things work as expected there.

Btw: the "add funds" tab works as exepcted in both browser versions Tongue

Ichthyo

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Activity: 602

Merit: 500

Quote from: Fireball on August 03, 2012, 07:00:16 AM

Yes, we are actively deploying various updates to the system as it's becoming more and more used. The best way to quickly know about possible interruptions in the service caused by updates is to read the twitter (the feed is also located in the left side of the frontpage, however in the worst case when the website is inaccessible it's best to just follow to see the updates in your own feed).

thanks for the active improvements to your platform! Indeed, the bitcoin ecosystem urgently needs such a futures market.

Right now, the "futures" tab works as expected again, but when switching to the "funds" tab, I get

Quote

Server Error in '/WebTrade' Application.
Runtime Error
Description: An application error occurred on the server. The current custom error settings for this application prevent the details of the application error from being viewed remotely (for security reasons). It could, however, be viewed by browsers running on the local server machine.

Update: problem is fixed now.

Fireball

hero member

Activity: 674

Merit: 500

Yes, we are actively deploying various updates to the system as it's becoming more and more used. The best way to quickly know about possible interruptions in the service caused by updates is to read the twitter (the feed is also located in the left side of the frontpage, however in the worst case when the website is inaccessible it's best to just follow to see the updates in your own feed).

EnergyVampire

full member

Activity: 210

Merit: 100

"There seems to be a problem with sell-side liquidity (too much buy pressure). We will be resolving that tomorrow." - icbit.se Twitter

Grin

Ichthyo

hero member

Activity: 602

Merit: 500

is there a problem on ICBIT right now? Roll Eyes

suddenly, all values on the "Futures" tab are gone. No order book, no balances, no orders.
and the "Funds" tab yields an internal error...

the log tab seems to work though, it shows the result of my last trade

Fireball

hero member

Activity: 674

Merit: 500

Quote from: Stephen Gornick on July 28, 2012, 12:24:21 AM

Hmm ... now it is reporting it correctly for new trades. That got fixed then, or am I misreading the log?

Ok I found the problem, it was inverted condition when getting logs from the long term storage. And short term (quick) storage logic was not affected, so it was displaying correct buy/sell flag for new trades and inverted for previous trading session trades.

Now that's fixed. Of course, it was only displaying problem, so all log entries were correct, and you can check your log now which should show all trades correctly.

Thanks! Wink

Fireball

hero member

Activity: 674

Merit: 500

Quote from: Stephen Gornick on July 28, 2012, 12:24:21 AM

Hmm ... now it is reporting it correctly for new trades. That got fixed then, or am I misreading the log?

That's really strange, nothing log-related was fixed during this period. Let me check now...

Stephen Gornick

legendary

Activity: 2506

Merit: 1010

Quote from: Stephen Gornick on July 28, 2012, 12:24:21 AM

Hmm ... now it is reporting it correctly for new trades. That got fixed then, or am I misreading the log?

Bah ... I think I see my problem.

When the log shows buy that means I bought a future position. So even if I click "sell" I am actually buying (opening) a short position. So it shows buy in the log, but doesn't say which type of position I am entering.

If this is what is happening, then the log could be improved by including a column with a long/short flag. Or there are other ways of properly reporting these trades.

Topic: ICBIT Derivatives Market (USD/BTC futures trading) - LIVE - page 45. (Read 97654 times)