How to Use the QuiBids Straddle Method to Win
What is the QuiBids Straddle Method?
The Straddle Method was developed as a way to bid less and win more on QuiBids. The technique was developed using advanced statistical data of past QuiBids auctions that has been gathered and compiled on QuiBids Report. The goal of the QuiBids Straddle Method is to pick a price entry point that is statistically proven to be towards the end of the auction and effectively outwait the other bidders. To see the QuiBids Straddle Method in action view the YouTube video here. By entering the auction towards the end of the bidding you can increase your chances of being the last bidder AKA the winner! The trick to this is knowing when the end of the auction is near.
QuiBids Straddle Method Explained
After compiling a massive database (currently at over 800,000 close auctions) QuiBids Report has applied advanced statistical analysis to determine key price points which tend to be towards the end of the bidding. These price points have been calculated for every product auctioned on QuiBids and the data is posted in the members’ only area of QuiBids Report. In theory any penny auction could continue into infinity, but it is safe to say that if 84% of let’s say 100 or so auctions never go past a certain price point then it is a good bet that you are near the end of an auction when you reach such a price point. Every product has a maximum and minimum sold for price and although any individual auction could theoretically set the new max, it is statistically unlikely (assuming you are working with a large data set of at least 30 or more observations). In the YouTube video How to Win QuiBids Using the Straddle Method – Know the Closing Price these price points are referred to as upper limits, but QuiBids Report now refers to them as Straddle Entry Points. By knowing where these straddle price points are you know where most others have given up bidding and when competition is lower. It’s important that there be enough historical data on the product to accurately calculate the entry points. QuiBids Report will not calculate straddle entry points on products with fewer than 30 records of historical auction data.
How to Execute the QuiBids Straddle Method
To execute the QuiBids Straddle Method you must first have access to straddle entry points for the product you are going to win. Register Here to get the Straddle Points for every product. These entry points adjust every time the database is updated so it is important to check the database frequently. QuiBids Report offers two straddle method price points. The first represents an entry point in which between where 84-97% of the previous auctions have closed for that particular product. The second straddle entry point is referred to as the Safe Straddle entry point and is an entry point further down the number line to give you better chances. With the safe straddle entry point you get better odds at winning, but you risk the auction ending before reaching that actual price point. Once you have chosen the entry point that suits you then your goal is to be a last second bidder. The idea is that most participants in the auction have exhausted their bankroll at this point and simply cannot continue to match a new bidder and a fresh bank roll. Some caution should be used here since bidding dynamics come into play. For example if you are consistently a last second bidder then other players can spot your bidding pattern and play off of you. However by bidding at the last possible second, you effectively extend your participation time in the auction. Remember the goal is to outlast the other bidders. Next you want to make sure you have enough bids to cover the auction. Take a 25 Bids Voucher auction for example. It’s possible you could win the auction with as few as 3 bids, but the more bids at your disposal the better off you are statistically. In case of a 25 Bids Voucher you could use up 25 bids to break even. For something like an iPad 2 you will obviously need a larger bankroll to survive long enough to reach the closing price. What’s handy is QuiBids Report also calculates the maximum number of bids you should use before you are better off using the Buy-it-Now feature.
QuiBids Straddle Method Recap
- Find a product you want and know the straddle entry point (upper limit).
- Watch the auction and begin bidding once the straddle entry point has been reached.
- Know the maximum number of bids you are willing to invest into the product.
- Bid at ether the last second or some pattern you feel comfortable with in based on your experience.
Tips and Tricks for the QuiBids Straddle Method
It should be known that the QuiBids Straddle Method is not a fool-proof guaranteed way to win on QuiBids. It is only used to help increase your odds and many users have reported great success. There are some tips and tricks you can employ to even further increase your chances.
- BE PATIENT: You are not going to stumble upon a QuiBids auction already at the straddle entry points or even near it. QuiBids hides those auctions from the public part of the site when they reach the about 50% of the straddle prices. You will need open the auction you are stalking in a new window and monitor it. This way if QuiBids’ system hides the auction from the search results you will always have it opened in another window where you can still bid on it. When it reaches the straddle entry point then the auction is prime.
- USE YOUR JUDGEMENT: The straddle entry points are not magic. Use your judgment as to if the entry point is a good time to begin placing bids. For example if two or more Bid-O-Matics are activated and going head to head then it is safe to say that you should further wait before placing bids. However at some point one of the Bid-O-Matics will turn off and someone will need to bid in order to win.
- KNOW WHEN YOU ARE BIDDING: Each QuiBids product has a best time to bid. These best times to bid are also reported on QuiBids Report. If you are bidding in one of these best or even worst times to bid then the straddle entry points will be different. Luckily QuiBids Report has a nifty Advanced Search feature that allows you to punch in the exact day and time you are bidding. If the average price for that particular time is higher or lower then adjust the straddle entry point then increase or decrease the entry point by the difference of the two average prices. For example if the overall average selling price of a product is 60 cents, but the average price for that same product at the particular day and time you are bidding is only 55 cents then decrease your entry price point by 5 cents. If the average selling price is higher, then you would increase by the respective factor.
- KNOW YOUR COMPETITION: It’s important to know what you are up against when entering a QuiBids auction. This is why many QuiBids users use programs to keep a running tally of bids placed by other players. One such program is called BidFellow. BidFellow is technically auto-bidding software and its use on QuiBids is prohibited. We do not advocate breaking any of QuiBids’ policies so proceed with caution. BidFellow has a great bid counter that tracks all the bids other players have placed. By keeping a running total of bids placed by your competition then you can see where approximately their quitting point is. I have found that it is a good rule of thumb that bidders tend to bid about 20% more than the product is worth if in the straddle areas of the auctions. This is because most users are flush with bid vouchers and QuiBids allows you to continue bidding forever with bid vouchers. So an item worth 100 bids and someone is committed then expect them to quit around 120 bids.
- USE BUY-IT-NOW: If you don’t win then use buy-it-now feature. By doing this you cut your risk of losing money by several factors. Buy-it-now allows you to recoup your costs in the event you don’t win.
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