Market screen - Buy & Sell function

Feedback on Market screen section including the buy and sell function

So, first off, I’ve had issues with notifications that only seem to come through If I open the app. I’ve had some rental income notifications which don’t actually show up in-app via way of an activity feed of some description.
The portfolio screen could do with some way of providing better information. At present there’s no profit / loss section and no ability to ascertain whether the property has grown or shrunk in value.
Hope that helps!

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Ben I know yesterday I briefly mentioned an error when I am trying to put in a lower order for the property than what it is being sold at. This is a screen shot of the error if that helps

Yes, Rob. We’re rewriting this error message as it doesn’t make much sense. It’s basically for safety that you shouldn’t match with yourself. You had a sell order at a lower price and then a buy order which was higher or equal. This way, you would be matched with yourself, which is kinda pointless.

That’s great thanks :+1: will check out the new update shortly. Out of interest can I reset my test account easily. With all the pending orders will just be a bit easier to test. It’s ok if not

We will add cancellation in the next release and that should make it a lot easier.
Also, if that’s easier, you can create a new account and from 0.

I also have quite a few pending orders both buying and selling

Ok, then we will clear the orderbook today and delete your pending orders.

Sorry if I have this completely wrong here but I take it the order book on the invest tab isn’t live yet. The ask price shows £17 and the bid is £15.

Also what are the market hours where orders will be filled.

I only ask because I am trying to place orders that will fill rather than land in the pending area. The bid and ask obviously isn’t following the share price on the graph above.

Sorry if I have this completely wrong here but I take it the order book on the invest tab isn’t live yet

It’s live, but not real-time yet. Basically, you need to go back to a different screen and open that property screen again to see how it changes.

We are open 24/7 right now. The graph shows the last price that was executed, whereas the bid and ask show how much people right now are willing to pay/sell for.

We’ve released more shares in the properties, so now I think the pending orders were executed.

Ok that’s great but I’m not sure if it’s just me but the order book for each property looks the same to me and shows like the attached image. It wasn’t doing that before you reset this morning they were all different I think also no amount in the bid price.

:upside_down_face: :upside_down_face: You’re right. We totally missed it…this is why testing is essential.

It should be fixed now.

When buying/placing an order button, for me the ‘ok’ button doesn’t actually do anything. I have to swipe down to remove the order placed screen

@ap.scott Thanks for reporting! I fixed this over the weekend and I’ve just submitted the fix to Apple for review, it should be available via TestFlight on Wed or Thu in v0.1.8.

Hi Alex I’ve just noticed my portfolio is in the minus

Why is there so many pending orders? I’m confused. Thanks

Hi Beth.

Ben or someone else might be able to give a more detailed answer but my understanding is that proptee (due to current low trading volumes) uses an order book system. The order book shows the bid and ask price and the number of shares.

I’ve had to do some reading up on the bid and ask price but if I’m on the right track this is basically the difference between the price someone wants to pay for a stock and the price that someone wants to sell a stock for.

Your order will just wait until your price matches a price someone is willing to sell at.

I’m struggling to make sense of it myself but I think that might be mainly because a few of us might have just been putting in any numbers at first to try and test the system and now we all have pending orders for massively varying amounts. I think this might be why one of the properties dropped about 400% the other day.

Am I on the right tracks Ben? Thanks

Yes @Rob you’re on the right track. These are limit orders, not market orders.

I will try to explain everything in this post and feel free to ask me questions. Before we go any further, we need to know the definition of limit and market orders.

1. Limit order:

A limit order allows you to buy and sell shares at a certain price in the future. This type of order is used to execute a trade if the price reaches the pre-defined level; the order will not be filled if the price does not reach this level. In effect, a limit order sets the maximum or minimum price at which you are willing to buy or sell.

2. Market order:

A market order is the most basic buy and sell trades, where you only tell the broker the total amount you wish to invest. In this case, you don’t define the max/min price per share.

Keep in mind, market orders are limit orders that get the worst execution price per share.

Why does Proptee do limit orders and not market orders?

Unlike on the normal stock exchange where thousands of brokers place orders with millions of customers, we have a market that has few participants right now. Thus, we need to build this up starting from a small number of users. For the price to move both directions, we must have limit orders. This way, you can move the market either up or down by offering more or less for a share.

We’re working on a solution that will make the orders execute faster.

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Apple has just approved the latest version, which brings these improvements:

v0.1.9:

  • You can now cancel pending orders from the Portfolio tab.
  • Clicking “cancel” and “ok” in the order flow now works.
  • The Account tab shows a breakdown of your cash: money that you can spend, and money that’s reserved for buy orders.

@nicginvesting Clicking “OK” after placing an order should work now.

@bethjohnston1996 You can cancel pending orders now from the Portfolio tab.

Well done on the latest update. It’s great to see your getting this stuff out so quickly.

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