Trading volume bars in Peter's Cheltenham vid

[SUSSEXTRADER]

Could someone just clarify from Peter's Cheltenham vid...
Talking about the trading volume percentages...
He said there was BACKING PRESSURE where the price has a lot of lay money stacked up against it.
Can you explain that as it looks to me as if that would be lay pressure?

Cheers

[Euler]

If there is a lot of money traded at one price than another, then people have been backing it more than laying it and vice versa It's that simple.

An accumulation over time in one direction or another will shape what you think is happening in the market, but nothing, nothing is 100% certain as you are just looking at history. So your skill as a trader comes from adding up all these insights.

[SUSSEXTRADER]

Thanks. I thought it was fairly simple as we know there are more backers than layers.
It was just seeing that lay money stacked up on the lay side that threw me.

[Euler]

Unmatched money isn't as important as traded money.

[Ryanolifelix]

If there is a lot of money traded at one price than another, then people have been backing it more than laying it and vice versa It's that simple.

An accumulation over time in one direction or another will shape what you think is happening in the market, but nothing, nothing is 100$ certain as you are just looking at history. So your skill as a trader comes from adding up all these insights.

In reverse ladder settings, what bars on the traded volume section shows if a horse is being backed more or layed more. Can you tell? By watching the growing traded volume. I'm talking about the bars next to the current price either back or lay.

I think this is what your saying here.

I saw a video of Peter Webb (I think that is you euler) talking about the the traded amount bars, and he/you was particularly interested in and hoping that the amount would rise on one of the bars opposed to the other because of the direction he/you was predicting the odds would move.

Thanks, Ryan.

[Ryanolifelix]

Unmatched money isn't as important as traded money.

If we couldn't see or chose to hide the waiting money, and we displayed the traded volume only, this seems like a good game to play . Do you know what I mean?

[wearthefoxhat]

If there is a lot of money traded at one price than another, then people have been backing it more than laying it and vice versa It's that simple.

An accumulation over time in one direction or another will shape what you think is happening in the market, but nothing, nothing is 100$ certain as you are just looking at history. So your skill as a trader comes from adding up all these insights.

In reverse ladder settings, what bars on the traded volume section shows if a horse is being backed more or layed more. Can you tell? By watching the growing traded volume. I'm talking about the bars next to the current price either back or lay.

I think this is what your saying here.

I saw a video of Peter Webb (I think that is you euler) talking about the the traded amount bars, and he/you was particularly interested in and hoping that the amount would rise on one of the bars opposed to the other because of the direction he/you was predicting the odds would move.

Thanks, Ryan.

Do you mean heat maps? At 9.20 there's a heat map volume of 3.3k.

heat zone.png

There's a bot Dallas posted up that might be a fair starting point.

viewtopic.php?f=65&p=325702

[Ryanolifelix]

If there is a lot of money traded at one price than another, then people have been backing it more than laying it and vice versa It's that simple.

An accumulation over time in one direction or another will shape what you think is happening in the market, but nothing, nothing is 100% certain as you are just looking at history. So your skill as a trader comes from adding up all these insights.

When you say vice versa, do you mean if there's a lot of money traded at one price than another it could also mean it's being layed more too? Or do you mean it's only being backed more?

Thanks, Ryan.

[Ryanolifelix]

Unmatched money isn't as important as traded money.

Do you think or know you could get the same strike rate if you traded from looking at matched traded amounts only?..

Or only best market price back/lay and matched traded amount only.

So taking away all the other waiting money information.

Thanks. Ryan

[Euler]

Any indicator will only ever give you a % chance of predicting what happens next. So you have think along the lines of, if I see this, it's means this is more likely.

So on volume bars, say you are a 2.74 and £10k has been traded there and £5k traded above it. More people are taking the price at 2.74 and therefore there is more backing. But you have to delta that with the amount of money outstanding for whether it will more the price or not.

I just use everything available to tell me if I'm in roughly the right position or not, rather than telling exactly what is going to happen next.

This is often what people find hardest to come to terms with when trading. It's not an exact science and if you inject some emtion into it, you can get tripped up.