Hi everyone. I've been playing around with the settings in Bet Angel and I stumbled across the weight of money indicator percentages. It's ironic as I was just saying to a friend the other day how it would be handy to be able to tweak this setting.
What percentages do you guys have it set to? I understand a lot of you won't even use it. Like many new traders, I'm currently sticking to pre off horse race trading.
Also, for whoever is in the know. How many ticks represent each of the inner, middle and outer prices?
Ta very muchly!
WOM indicator settings
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Crazyskier
- Posts: 1300
- Joined: Sat Feb 06, 2016 6:36 pm
Hi Tom.
A word of caution about WOM. Many bots use this as a signalling metric to place trades, and therefore it is often manipulated by traders wishing to influence a price, by placing large bets they never intend being matched 1-2 ticks away, you know to try to force the price up or down.
To answer your question I have a strategy that looks at 100% +, though as I say, low liquidity markets especially are so easily influenced with 'fake' money that it's almost useless as a guide to price movement generally, at least in my opinion.
A word of caution about WOM. Many bots use this as a signalling metric to place trades, and therefore it is often manipulated by traders wishing to influence a price, by placing large bets they never intend being matched 1-2 ticks away, you know to try to force the price up or down.
To answer your question I have a strategy that looks at 100% +, though as I say, low liquidity markets especially are so easily influenced with 'fake' money that it's almost useless as a guide to price movement generally, at least in my opinion.
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Each market is slightly different, but i would say the market (BF or their priority customers) allow for 4 ticks either side of the price. In weak football markets it maybe 3 but never 2.
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cybernet69
As others have said using WOM can be misleading due to the spoof brigade.
I use...
- WOM (100% on Inner, Middle and Outer)
- Minimum of 1000 available on current back/lay amounts depending on if I am LTB or BTL.
- Market Highs and Lows. (Preferably double tops or double bottoms.
My SL depends on the tick value for the current trading range, so it is never fixed. The same with my TP.
Cheers,
I use...
- WOM (100% on Inner, Middle and Outer)
- Minimum of 1000 available on current back/lay amounts depending on if I am LTB or BTL.
- Market Highs and Lows. (Preferably double tops or double bottoms.
My SL depends on the tick value for the current trading range, so it is never fixed. The same with my TP.
Cheers,
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Trader_Tom
- Posts: 198
- Joined: Mon Oct 10, 2016 10:51 pm
Thanks for the info people! Much appreciated. I don't use it as a sole indicator but it helps to back up my opinion and give me a bit of confidence.
Thanks again!
Tom
Thanks again!
Tom
I use 50% inner, 33% middle and 17% outer which is equivalent to a weighted average giving most importance to inner and least importance to outer. I'm not saying this is any better than using a normal average because I haven't recorded or noted any stats to back it up.
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Crazyskier
- Posts: 1300
- Joined: Sat Feb 06, 2016 6:36 pm
This is very sensible as the spoofers will often park the big wedge on the outer to avoid it being taken.knome wrote:I use 50% inner, 33% middle and 17% outer which is equivalent to a weighted average giving most importance to inner and least importance to outer.