Author Topic: So, I created a ... thing.  (Read 15294 times)

TonySaunders

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Re: So, I created a ... thing.
« Reply #30 on: January 02, 2014, 01:28:30 AM »
From the screenshot it looks like it is possible to buy multiple notes from the same loan in $25 increments (in order to make it easier to sell on FolioFn I presume)?

How do you accomplish this?  Assuming a single LC account and a desire to invest a total of $200/loan, then a $200 basket hold first needs to be released in order to change the amount to $25 and then to place 8 sequential orders. Is this correct?  How long time does each order take, e.g. with 4 loans @ $25 each?

I have tried it myself, and the loan is often fully funded before the last sequential order is completed..

Keep in mind that my Internet is faster/slower than your Internet, so your mileage my vary.

First, let me tell you about how it works right now: If you are using it in auto-invest mode. It detects when new loans are posted with a remarkably simple poll every 5 seconds at the right time of day. After that, it can take as little as 2-ish seconds to buy a single note from a single loan. Buying a single note from each of many loans increases that time (33 notes takes about 9 seconds).

Buying multiple notes from a loan is tricky for two reasons: First, as you know, you have to finish buying the first note before you can buy the second, so it depends on the loan staying open for long enough and you being able to buy the notes quickly. Second, automation is vulnerable to some toxic circumstances that have to be checked between each order that is submitted, so there are a couple more round-trips to LC.com that have to happen in order to be sufficiently careful with one's money. My forte is to buy two $25 notes from each of the 2-5 loans that pass my filters. The software usually completes this task in 10-15 seconds. So far that's always been quite fast enough and I've always got the notes I wanted.

Honestly, that's about all I know for sure. I speculate that more intensive use of the multiple-note feature in it's current state would be pretty successful with 4 notes from a loan that is bought up very fast. I would try it out, but I don't feel like using my own cash to learn a detail.

The situation is actually better than that. It's written to target my own investing behavior which didn't need to be particularly fast. I believe it could be improved to take about 4-5 seconds for each shopping-cart-full of notes. So, for example. if a note is available for 30 seconds you could get 6 notes at whatever denomination you like. Also, there's a way around the entire debacle. If you have a second investing account with lending club then you could run a second copy of the tool at the same time for the other account and get notes twice as fast.

rawraw

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Re: So, I created a ... thing.
« Reply #31 on: January 02, 2014, 06:55:55 AM »
P2P Picks generates two ratings on loans (loans least likely to default and loans most likely to be in top 5% of ROI).  He charges per investment and allows third parties to pull this info in.  I'd be interested in the ability to pull it in and set rules based on his.  For example, for least likely to default I'm okay with notes 10%+ in that category but not the 7%s.  I'd love the ability to pull in P2P's ratings and then be able to set rules based on their results.

TonySaunders

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Re: So, I created a ... thing.
« Reply #32 on: January 02, 2014, 12:45:55 PM »
P2P Picks generates two ratings on loans (loans least likely to default and loans most likely to be in top 5% of ROI).  He charges per investment and allows third parties to pull this info in.  I'd be interested in the ability to pull it in and set rules based on his.  For example, for least likely to default I'm okay with notes 10%+ in that category but not the 7%s.  I'd love the ability to pull in P2P's ratings and then be able to set rules based on their results.

That sounds pretty sweet. I'm a good software guy but I don't know much about evaluating securities... so I'd be interested in such a feature as well.

viking

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Re: So, I created a ... thing.
« Reply #33 on: January 02, 2014, 01:17:24 PM »
It would also be great to add Interest Radar scores (IR01 & IR04).
However, a problem with P2P and IR scores may be that these scores may not be available until some loans are already fully funded.
At least with IR scores, I have seen many loans fully funded before the loans and scores were available on IRs website (or Auto-Invest E-mails)

TonySaunders

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Re: So, I created a ... thing.
« Reply #34 on: January 02, 2014, 03:16:30 PM »
It would also be great to add Interest Radar scores (IR01 & IR04).
However, a problem with P2P and IR scores may be that these scores may not be available until some loans are already fully funded.
At least with IR scores, I have seen many loans fully funded before the loans and scores were available on IRs website (or Auto-Invest E-mails)

If any smart investors out there are good at calculating such scores (so that I don't have to do the learning part), it seems like it would be easier to just add a filter that does it our way right in process (really fast). Round trips to more websites are slow and/or the data may not be available quickly.

rawraw

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Re: So, I created a ... thing.
« Reply #35 on: January 02, 2014, 03:22:38 PM »
It would also be great to add Interest Radar scores (IR01 & IR04).
However, a problem with P2P and IR scores may be that these scores may not be available until some loans are already fully funded.
At least with IR scores, I have seen many loans fully funded before the loans and scores were available on IRs website (or Auto-Invest E-mails)

If any smart investors out there are good at calculating such scores (so that I don't have to do the learning part), it seems like it would be easier to just add a filter that does it our way right in process (really fast). Round trips to more websites are slow and/or the data may not be available quickly.
Contact brycemason on this forum.  From what I've seen he is quantitatively very strong.  If I recall from his Podcast with Peter, he lets people get his scores through API (I think).  They are published within seconds of loans being posted on the platform, as many of his top picks get funded in seconds.