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Author Topic: Starting today, Folio prevents selling notes with processing payments.

T
  • Posts: 25


I speculate that this was to prevent certain abuses. At least one of which I had become accustomed to looking out for and/or taking advantage of.
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b
  • Posts: 152
We all knew this was coming. I suspect half the people on this board will now disappear into the void.
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N
  • Posts: 98
"Yes this completely obliterated my amazingly lucrative strategy but that will not stop me from finding a new one."

I see this making a big mess for relisting.  How are we supposed to keep track of the "4 Business Days"?  If I have 22 notes cancel over 4 days, how am I supposed to remember which ones will qualify for relisting tomorrow?

Secondly, 4 days off the market?  That's a lot of time to have a note just sitting there doing nothing.
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T
  • Posts: 6588
Many people were using the IGP trick as a basis of their trading strategy. Half is hyperbole. Maybe you're right and they'll just adapt to a new way.
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T
  • Posts: 6588
"Secondly, 4 days off the market?  That's a lot of time to have a note just sitting there doing nothing."

"It still accrues interest to the note holder."


Doesn't mean a darn thing if the borrower isn't paying to begin with. 
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T
  • Posts: 6588
" If I am a professional like New Jersey Guy, I will not complain"

Now, now now!  I just had this conversation with DanB this morning!  I never participated in that "grey area" of trading!  Despite what you might have read, I do have a conscience.

Besides, my Folio forte' is fleecing the elderly out of their life savings.

Anybody interested in a bridge?
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y
  • Posts: 22
This new change also means that we will no longer get cancelled orders due to payment.
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