I've been following the great efforts of Gwaihir, Maaze and other HCopperites in tackling the bot virus. They have come up with an email to send to the ASX. Jak first pointed this out to us on the weekend.
Some suggestion were made to the wording by lindfield later on in the thread.
For those of us that know how bots work, we can work with them - but only if we have the funds to do so. For those new to the trading game (and we all were once) they can get caught up in their smoke and mirrors and end up being fleeced in an unbalanced playing field. This is partly why the 85:15 percentage rule works for successful traders i.e. 85% bomb out.
I know if bots are taken out the old manual method of trading op/down will come back but at least it will stop the nanosecond trades that jump the queue and level it up a bit.
So what can we MEOmites do asks EduCAtoRr?
We need to be proactive and email the ASX to let them know our displeasure about these practices. We are always a target.
When we get the bot action on MEO we can put an email together in the format as shown by Gwaihir.
This should include dates and type of bot action. This could be discussed and somebody charged with putting together a final draft and posting it in the forum.
Then all MEOmites could copy and paste the email and send it to the ASX/ASIC with. This will force them to deal with each one individually.
If all the other ASX forums did the same thing then sheer weight of numbers will make the authorities sit up and listen. They will soon tire of dealing with the thousands of emails which is what they are bound to do by law.
People power against machines!
I have to go out now but will look at the wording of the MEOmite email later unless somebody else gets there first.
Any thoughts on this - and any hands up?
#:>))
MEO Price at posting:
34.0¢ Sentiment: LT Buy Disclosure: Held
