Wtf WSEX froze markets already???
 

Why does WSEX suck so damn much?? Glad I loaded up some more on Melinda to LL than Lakisha and bought a couple more shares of Jordin, not happy about the price but I am hedging my position of Melinda or Blake to win.

-Brendan

Re: WTF WSEX FROZE MARKETS ALREADY???
 

i bought jordin at 16 -- i can sell her at 44 today holla

Re: WTF WSEX FROZE MARKETS ALREADY???
 

Nice turn around!

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
i bought jordin at 16 -- i can sell her at 44 today holla

[/ QUOTE ]

I can top that. I bought 10 of her on the first day at 4.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
[ QUOTE ]
i bought jordin at 16 -- i can sell her at 44 today holla

[/ QUOTE ]

I can top that. I bought 10 of her on the first day at 4.

[/ QUOTE ]

An even better buy.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

can someone please explain to me how those long term market things work on wsex? appreciated.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

Who's Mike Haven and why did he edit my two posts in this thread?

Re: WTF WSEX FROZE MARKETS ALREADY???
 

vegan, i admire you for being a vegan. i am only a vegetarian. since we sort of have that in common, can u answer my question?

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
can someone please explain to me how those long term market things work on wsex? appreciated.

[/ QUOTE ]

You are buying shares in the candidates. For instance the prices on Jordin are 44/49. The price of 49 represents the price you pay for one share of her. If she wins the competion that share becomes worth 100. So you are risking 49 dollars for a return of 100 dollars which means you are risking 49 dollars to make 51 dollars. The lower of her two prices is 44. That is her selling price. Meaning for each share you own you can sell it for that price. Each time people buy shares of a candidate the price goes up. Each time people sell shares of a candidate the price goes down.
That is just the basics of what you need to know.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
vegan, i admire you for being a vegan. i am only a vegetarian. since we sort of have that in common, can u answer my question?

[/ QUOTE ]
Funny while you were making this post I was already answering your question. You didn't need to be a vegetarian for me to answer it. [img]/images/graemlins/smile.gif[/img] If you have any follow up question just ask.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

i thought it wouldnt hurt, ha. thanks for your help.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
i thought it wouldnt hurt, ha. thanks for your help.

[/ QUOTE ]
Was my explanation enough to answer your question?

Re: WTF WSEX FROZE MARKETS ALREADY???
 

yes

Re: WTF WSEX FROZE MARKETS ALREADY???
 

I don't know what I am doing. What does all of this mean? What should I do?

Position Event Series Market Position Date
-55 AMERICANIDOL-2007 PHIL STACEY(44577) 1 - 3 04/29/2007 17:37:28
-25 AMERICANIDOL-2007 CHRIS RICHARDSON(44565) 0 - 2 04/24/2007 16:41:52
15 AMERICANIDOL-2007 MELINDA DOOLITTLE(44573) 34 - 39 04/30/2007 16:03:17

Re: WTF WSEX FROZE MARKETS ALREADY???
 

Granny or even Mike Haven why the hell were certain posts in this thread edited? Why was my OP edited? WTF is up?

-Brendan

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
I don't know what I am doing. What does all of this mean? What should I do?

Position Event Series Market Position Date
-55 AMERICANIDOL-2007 PHIL STACEY(44577) 1 - 3 04/29/2007 17:37:28
-25 AMERICANIDOL-2007 CHRIS RICHARDSON(44565) 0 - 2 04/24/2007 16:41:52
15 AMERICANIDOL-2007 MELINDA DOOLITTLE(44573) 34 - 39 04/30/2007 16:03:17

[/ QUOTE ]

I believe they already debited your account for Chris and Phil which means if neither of them win you will get back
5500 for Phil and 2500 for Chris but I am not certain of this. If you want to cash these positions at the above prices you would need to buy 55 shares of Phil and 25 of Chris. This will end your positions if you want. As for Melinda, you own 15 shares. If she wins you will get 1500.
If you want to cash on her you can sell your 15 shares at the market price. Remember the small number is the sell price and the large number is the buy price. You should call WSEX to clarify all of this. 888-498-8227

Re: WTF WSEX FROZE MARKETS ALREADY???
 

Thanks, vegan. They have not taken the money out of my account. If you were me, would you keep it how it is or would you buy back any shares?

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
Thanks, vegan. They have not taken the money out of my account. If you were me, would you keep it how it is or would you buy back any shares?

[/ QUOTE ]

I don't see how they didn't take the money out of your account but anyway if it were me I would just sit with that position. Of course this is based on my opinions of the candidates. I believe Melinda is definitely worth more than the measily 34 you can sell her for and I believe neither Chris nor Phil can win. Of course I am the guy who thinks Lakisha can win. Every single person in this forum has picked her as one of the two to go home Wednseday. Anyway there you have my opinion for what it's worth. Good luck!

Re: WTF WSEX FROZE MARKETS ALREADY???
 

Your OP title was edited purely for aesthetic reasons. Nothing else in your post was touched.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

I'm one of the moderators of this forum.

You made minor, but unnecessary, sexist remarks, imo, which I deleted.

Nothing of value to the debate was removed.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
[ QUOTE ]
I don't know what I am doing. What does all of this mean? What should I do?

Position Event Series Market Position Date
-55 AMERICANIDOL-2007 PHIL STACEY(44577) 1 - 3 04/29/2007 17:37:28
-25 AMERICANIDOL-2007 CHRIS RICHARDSON(44565) 0 - 2 04/24/2007 16:41:52
15 AMERICANIDOL-2007 MELINDA DOOLITTLE(44573) 34 - 39 04/30/2007 16:03:17

[/ QUOTE ]

I believe they already debited your account for Chris and Phil which means if neither of them win you will get back 5500 for Phil and 2500 for Chris but I am not certain of this.

[/ QUOTE ]

Ah . . . no . . . what this means is that if Phil goes out you would get back 55 x $1 or $55. I'm pretty sure they haven't debited your account because you wouldn't have enough in there to cover it. To short Phil you would basically be wagering $99 to win $1. 55 shares x $99 = way more than is in your account I would assume.

The Chris one didn't go through because he is already at 0. You can't short him if his sell price is already at 0.

[ QUOTE ]
You should call WSEX to clarify all of this. 888-498-8227

[/ QUOTE ]

This is very good advice. Call them.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
I'm one of the moderators of this forum.

You made minor, but unnecessary, sexist remarks, imo, which I deleted.

Nothing of value to the debate was removed.

[/ QUOTE ]

I remember now what I said. I simply commented on the anatomy of the avatars of two of the members. It was not a negative or sexist comment. You may have considered it inappropriate but clearly it wasn't sexist. I do not now nor do I ever make sexist remarks. In no way were my comments discriminatory toward anyone.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
[ QUOTE ]
[ QUOTE ]
I don't know what I am doing. What does all of this mean? What should I do?

Position Event Series Market Position Date
-55 AMERICANIDOL-2007 PHIL STACEY(44577) 1 - 3 04/29/2007 17:37:28
-25 AMERICANIDOL-2007 CHRIS RICHARDSON(44565) 0 - 2 04/24/2007 16:41:52
15 AMERICANIDOL-2007 MELINDA DOOLITTLE(44573) 34 - 39 04/30/2007 16:03:17

[/ QUOTE ]

I believe they already debited your account for Chris and Phil which means if neither of them win you will get back 5500 for Phil and 2500 for Chris but I am not certain of this.

[/ QUOTE ]

Ah . . . no . . . what this means is that if Phil goes out you would get back 55 x $1 or $55. I'm pretty sure they haven't debited your account because you wouldn't have enough in there to cover it. To short Phil you would basically be wagering $99 to win $1. 55 shares x $99 = way more than is in your account I would assume.

The Chris one didn't go through because he is already at 0. You can't short him if his sell price is already at 0.

[ QUOTE ]
You should call WSEX to clarify all of this. 888-498-8227

[/ QUOTE ]

This is very good advice. Call them.

[/ QUOTE ]

If he doesn't have enough to be taken out then assuming it is a post up account what happens if he loses? No offense but that makes no sense at all. I have shorted at WSEX before and the way it works is if you are shorting something at say 34. They give you 34 dollars in your account and then freeze 100. This way if the short holds up they give you back your 100 and you netted 34. If your short doesn't work then they take the 100 that was frozen and you have a net loss of 66.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
Thanks, vegan. They have not taken the money out of my account. If you were me, would you keep it how it is or would you buy back any shares?

[/ QUOTE ]

I replied to the other thread about this but since the discussion seems to be here...

You can't short on WSEX unless you have enough to cover your potential loss if the person wins. And yes they do take the money out of your account when you make the short sale. So if you shorted 55 Phils at 1-3 that means you sold 55 shares at $1, which means $5445 (55*99) would be taken from your account. Then when Phil gets eliminated you'd get $5500 credited back to your account. So you're risking $5445 to win $55.

At any rate if you closed your short position on Phil now it would cost you $3 a share so you'd lose $110 total. Might as well wait until he mercifully gets eliminated finally.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
[ QUOTE ]
Thanks, vegan. They have not taken the money out of my account. If you were me, would you keep it how it is or would you buy back any shares?

[/ QUOTE ]

I replied to the other thread about this but since the discussion seems to be here...

You can't short on WSEX unless you have enough to cover your potential loss if the person wins. And yes they do take the money out of your account when you make the short sale. So if you shorted 55 Phils at 1-3 that means you sold 55 shares at $1, which means $5445 (55*99) would be taken from your account. Then when Phil gets eliminated you'd get $5500 credited back to your account. So you're risking $5445 to win $55.

At any rate if you closed your short position on Phil now it would cost you $3 a share so you'd lose $110 total. Might as well wait until he mercifully gets eliminated finally.

[/ QUOTE ]

I was all but certain that what I said was accurate and it is. I even called WSEX to confirm.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
I was all but certain that what I said was accurate and it is. I even called WSEX to confirm.

[/ QUOTE ]

Not sure what you think you were accurate on but revots33 explained it correctly.

You said this:

[ QUOTE ]
[ QUOTE ]
I don't know what I am doing. What does all of this mean? What should I do?

Position Event Series Market Position Date
-55 AMERICANIDOL-2007 PHIL STACEY(44577) 1 - 3 04/29/2007 17:37:28
-25 AMERICANIDOL-2007 CHRIS RICHARDSON(44565) 0 - 2 04/24/2007 16:41:52
15 AMERICANIDOL-2007 MELINDA DOOLITTLE(44573) 34 - 39 04/30/2007 16:03:17

[/ QUOTE ]

I believe they already debited your account for Chris and Phil which means if neither of them win you will get back
5500 for Phil and 2500 for Chris but I am not certain of this. If you want to cash these positions at the above prices you would need to buy 55 shares of Phil and 25 of Chris. This will end your positions if you want. As for Melinda, you own 15 shares. If she wins you will get 1500.

If you want to cash on her you can sell your 15 shares at the market price. Remember the small number is the sell price and the large number is the buy price. You should call WSEX to clarify all of this. 888-498-8227

[/ QUOTE ]

You were correct that he would get back $5500 and $2500 when Phil and Chris were eliminated. What you didn't say was that to do that, he would have had to wager $5445 and $2500 respectively. I'm pretty sure this guy didn't have $8000+ in his WSEX account and I'm pretty sure that this guy wouldn't risk $99 per share of Phil to win $1.

So if you knew all that and just failed to mention it then yes . . . I guess you were correct.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
[ QUOTE ]
I was all but certain that what I said was accurate and it is. I even called WSEX to confirm.

[/ QUOTE ]

Not sure what you think you were accurate on but revots33 explained it correctly.

You said this:

[ QUOTE ]
[ QUOTE ]
I don't know what I am doing. What does all of this mean? What should I do?

Position Event Series Market Position Date
-55 AMERICANIDOL-2007 PHIL STACEY(44577) 1 - 3 04/29/2007 17:37:28
-25 AMERICANIDOL-2007 CHRIS RICHARDSON(44565) 0 - 2 04/24/2007 16:41:52
15 AMERICANIDOL-2007 MELINDA DOOLITTLE(44573) 34 - 39 04/30/2007 16:03:17

[/ QUOTE ]

I believe they already debited your account for Chris and Phil which means if neither of them win you will get back
5500 for Phil and 2500 for Chris but I am not certain of this. If you want to cash these positions at the above prices you would need to buy 55 shares of Phil and 25 of Chris. This will end your positions if you want. As for Melinda, you own 15 shares. If she wins you will get 1500.

If you want to cash on her you can sell your 15 shares at the market price. Remember the small number is the sell price and the large number is the buy price. You should call WSEX to clarify all of this. 888-498-8227

[/ QUOTE ]

You were correct that he would get back $5500 and $2500 when Phil and Chris were eliminated. What you didn't say was that to do that, he would have had to wager $5445 and $2500 respectively. I'm pretty sure this guy didn't have $8000+ in his WSEX account and I'm pretty sure that this guy wouldn't risk $99 per share of Phil to win $1.

So if you knew all that and just failed to mention it then yes . . . I guess you were correct.

[/ QUOTE ]

He didn't say he made these wagers at this market. I don't know what he wagered. I wouldn't even hazard a guess. He asked for an explanation and everything I said in it's entirety is exactly correct. I don't know what price he shorted at but as I said for each share he shorted at they would add the sell price to his balance and then freeze 100 for each share as well. Just call WSEX and they will confirm this.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
[ QUOTE ]
I was all but certain that what I said was accurate and it is. I even called WSEX to confirm.

[/ QUOTE ]

Not sure what you think you were accurate on but revots33 explained it correctly.

You said this:

[ QUOTE ]
[ QUOTE ]
I don't know what I am doing. What does all of this mean? What should I do?

Position Event Series Market Position Date
-55 AMERICANIDOL-2007 PHIL STACEY(44577) 1 - 3 04/29/2007 17:37:28
-25 AMERICANIDOL-2007 CHRIS RICHARDSON(44565) 0 - 2 04/24/2007 16:41:52
15 AMERICANIDOL-2007 MELINDA DOOLITTLE(44573) 34 - 39 04/30/2007 16:03:17

[/ QUOTE ]

I believe they already debited your account for Chris and Phil which means if neither of them win you will get back
5500 for Phil and 2500 for Chris but I am not certain of this. If you want to cash these positions at the above prices you would need to buy 55 shares of Phil and 25 of Chris. This will end your positions if you want. As for Melinda, you own 15 shares. If she wins you will get 1500.

If you want to cash on her you can sell your 15 shares at the market price. Remember the small number is the sell price and the large number is the buy price. You should call WSEX to clarify all of this. 888-498-8227

[/ QUOTE ]

You were correct that he would get back $5500 and $2500 when Phil and Chris were eliminated. What you didn't say was that to do that, he would have had to wager $5445 and $2500 respectively. I'm pretty sure this guy didn't have $8000+ in his WSEX account and I'm pretty sure that this guy wouldn't risk $99 per share of Phil to win $1.

So if you knew all that and just failed to mention it then yes . . . I guess you were correct.

[/ QUOTE ]

the part you said he was correct on was actualy the part he was incorrect he would not get 5500 + 2500 he would get 0 + 5500 or 3000 + 2500 depending on the order they go and he would not have to wager 8000+ he would only need to wager 5420 assuming he sold them both at 1

Re: WTF WSEX FROZE MARKETS ALREADY???
 

This is the most complicated explanation of shorting I've ever heard. No wonder traffic1234 is confused; I am too, after reading this thread, and I've been using the WSEX markets for 3 seasons. AFAIK revots' post is accurate, and most closely reflects the way I have it written in the FAQ. If anyone would like to post a step-by-step guide to shorting I would be glad to include it in the FAQ with credit to the writer, of course.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

Im am absolutely terrible at explaining things but Ill try.

Shorting - Selling shares of a contestant you do not own.

Example

Blake is at 10-13 so if you short him you risk $90 to win $10 and $90 will be debited from your account when Blake is eliminated you get back $100

note you must buy back the shares at $1 you are actually paying $0 because he is priced 0 - 0

so if you short 10 blakes at 10 $900 will be taken from your account when blake is elliminated you get $1000 back, if you buy blake back at $13 you get $100-13 $87 will be credited back to your account

Margins using traffic1234 as an example

If you short 55 phils at 1 $5445 will be taken from your account so you are risking $5445 to win $55
If you now short 25 Chris at 1 $25 will be added to your account nothing will be taken because there can only be one winner
so If phil goes first $3000 will be added back to your account when Chris goes $2500 will be added back to your account
If Chris goes first you get nothing, but when Phil goes you get $5500 added back to your account

Assuming traffic1234 sold Chris and Phil at 1 He risked $5420 to win $80

assuming he sold Phil and Chris at 1-3 and bought melinda at 34-39 (looking at his post you can figure out these are the prices paid)
If Phil Wins he loses 15*39 and 55*99 but wins 25*1 = -6005
If Chris Wins he loses 15*39 and 25*99 but wins 55*1 = -3005
If Melinda Wins he wins all bets 15*61 + 80*1 = +995
If anyone else wins he loses 15*39 and wins 80*1 = -505

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
This is the most complicated explanation of shorting I've ever heard.

[/ QUOTE ]

LOL . . . Too true. I think I added the most to the confusion, by using the sell/buy numbers that trafic1234 posted, in my explanation :

[ QUOTE ]
Position Event Series Market Position Date
-55 AMERICANIDOL-2007 PHIL STACEY(44577) 1 - 3 04/29/2007 17:37:28
-25 AMERICANIDOL-2007 CHRIS RICHARDSON(44565) 0 - 2 04/24/2007 16:41:52
15 AMERICANIDOL-2007 MELINDA DOOLITTLE(44573) 34 - 39 04/30/2007 16:03:17

[/ QUOTE ]

So just to try and clarify a few things :

1) The sell/buy price shown above is the current (when he copied it) price of each contestant.

2) The date shown is the date that trafic12134 bought/sold each contestant.

3) Revots and I were using Phil's current sell price of $1 in explaining what would have to be wagered to "short" Phil.

4) Revots and Vegan were saying basically the same thing. To short someone you need to have the money in your account to cover the position. They either take the money or freeze it but regardless it needs to be there.

Ultimately I can't see how or why this guy could have these shorts because of the amount of money he would need in his account to do it. I"m pretty sure it was a Troll post.

The "sell" dates shown above for Phil and Chris were 4/29 and 4/24 respectively. These were the latest dates that trafic1234 shorted or sold each contestant. At no time in the last two weeks have either of these guys been above $4-5 (sell) so the minimum you would have to risk (read. freeze or have in your account) would be $95 (net) for each share shorted. To short these two guys for 80 shares at a best sell price of $5 would mean having (80 x $95) $7600 in your account. Possible ? I guess so. Likely ? Not really. Who in their right mind would wager $7600 to win $400. Again this would be a "best" case example. My guess would be that if you tried to short either Chris or Phil in the last two weeks you would have been doing it at a $2 or less, sell price.

Waiting eagerly to see if trafic1234 re-appears and shed's some light on this . . .

Edit : Wow, just read pokerplayer28's post. If he is right about the margin stuff (I assume he is) then my numbers above are slightly off (wouldn't have to have the Chris wager in his account etc.) but my assertion still stands that he likely didn't risk $5400+ (using pp28's #'s) to win such a small amount.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

I did have the money in my account. Why is that so hard to believe? I play poker and bet sports. I did not mean to risk so much to win so little. I did not know what I was doing. What do you suggest I do at this point?

Thank you all.

Also, do you get paid immediately when someone is eliminated, or do they wait until the show is over?

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
I did have the money in my account. Why is that so hard to believe? I play poker and bet sports. I did not mean to risk so much to win so little. I did not know what I was doing. What do you suggest I do at this point?

Thank you all.

Also, do you get paid immediately when someone is eliminated, or do they wait until the show is over?

[/ QUOTE ]

Depends on how comfortable you are risking thousands of dollars to win a hundred or so. Seems like a pretty safe bet but every week vampire Phil sticks around you're going to get a *little* more nervous [img]/images/graemlins/smile.gif[/img]

Also, I think you have to wait till the show's over to get the money back in your account but I'm not positive about this. But they have brought back eliminated contestants before, so I doubt WSEX would pay until the entire season is done.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

Wow,

Hard to believe because I don't think most guys on this board would have that kind of dough sitting in a "betting" account at WSEX. I don't play poker at WSEX so don't know how it works but I would assume your poker account is seperate from your "betting" account.

Anyway . . . glad I didn't call you an idiot [img]/images/graemlins/blush.gif[/img] [img]/images/graemlins/shocked.gif[/img]

The upside is that you are a lock to get all your money back plus the small profit on the Chris and Phil wagers so don't do anything. I'm not sure if they do it automatically or if you actually have to put in a "buy" to close the position. I think you may have to wait till the competition is over but could be wrong. You may be able to do it when the contestant get's eliminated.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

poker account money and betting acct money are the same

Re: WTF WSEX FROZE MARKETS ALREADY???
 

looks like u made an easy 80 bucks!

Re: WTF WSEX FROZE MARKETS ALREADY???
 

See OP, nothing to sweat about. Be more careful next time.

Re: WTF WSEX FROZE MARKETS ALREADY???
 

I am the OP. I didn't short 5 Gs to make $80. I know better. [img]/images/graemlins/smile.gif[/img] Poor ROI.

-Brendan

Re: WTF WSEX FROZE MARKETS ALREADY???
 

Um....any idea when the WSEX market will be open?

Re: WTF WSEX FROZE MARKETS ALREADY???
 

[ QUOTE ]
Um....any idea when the WSEX market will be open?

[/ QUOTE ]

I was thinking the same thing. I thought they only froze it during the elmination shows. I can clearly remember betting and the market moving during the performance shows all the time.


I can't understand why they'd pause it anyway. It adjusts and takes care of itself like any other live betting event doesn't it? They have nothing to lose or risk by opening it back up. Makes no sense to me.