Weight Of Money - Explained

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CrunchyTwiglet
Posts: 9
Joined: Thu Mar 21, 2019 4:46 pm

Hi all,
I read a lot on here but don't post much but was interested in picking the brains of the experts. One of the charts I have now included on my chart section is the weight of money. Which I understand is the sum of the money on offer on the back side divided by the total sum of the money on offer on the back and lay side. But I was just wondering how it should be read in general as a trading signal, I obviously wouldn't use it alone I am thinking it would make sense if the WOM was over 50% its a back signal and less than 50% a lay signal. Is this presumption correct.
Also I have the Average WOM. Would this be just a less sensitive version of WOM in regards to time or does a WOM below or above the average WOM mean some back or lay signal in trading terms.
Please don't think I'm using just WOM for trading its just that I like getting experience trading but I also like to know the technical reasons behind stuff too.
Thanks for your time all.
:D
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ODPaul82
Posts: 483
Joined: Sun May 08, 2011 6:32 am
Location: Digswell Herts

So WOM on the back side (i.e. people wanting to back) would be indicative of people wanting to back it and so will drive the price lower
The reverse is people wanting to lay i.e. for the price to be higher.

There are so many caveats around it though in that is it "real" money as in people spoofing the price.
Depedent on the sport you could theoretically be laying when its saying the price should be lower and look for a tick here or there but you could get smashed through to an even lower price (again reverse for the back price).
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