hi,
if i am trading on the ladder for a horse race, lets say the trading price for a horse is currently at $5.00 and i think price will go much higher, instead of laying at $5.00 where price is currently at and imagine there are still many orders waiting to get filled at that price, what would happen if i place a lay bet at $5.50 on the ladder at that point?
will this lay bet at $5.50 only get filled when price moves from its current price of $5.00 to that price of $5.50? Because I have been watching the betangel ladder trading videos and it seems if you place an order where price is not currently trading at, it appears to get filled when price eventually moves to that price.
Am i correct in this assumption? Is there something I am missing?
Thank you for taking the time to read this, much appreciated.
Trading Ladder Question
-
ShaunWhite
- Posts: 10559
- Joined: Sat Sep 03, 2016 3:42 am
BF will always match you at the best available price(s) but not at a worse price.
Example, the market has this available to lay:
200 @ 5.6
500 @ 5.5
200 @ 5.1
100 @ 5.0
and you place a lay trade for 1000 @ 5.5, BF will match you :
100 @ 5.0
200 @ 5.1
500 @ 5.5
and leaves 200 unmatched at 5.5, showing on the back side, waiting for someone to take. You have been matched at the best available prices but not at a worse price.
When you see the YouTube vids, you might be getting confused because Peter uses a reversed ladder.
Example, the market has this available to lay:
200 @ 5.6
500 @ 5.5
200 @ 5.1
100 @ 5.0
and you place a lay trade for 1000 @ 5.5, BF will match you :
100 @ 5.0
200 @ 5.1
500 @ 5.5
and leaves 200 unmatched at 5.5, showing on the back side, waiting for someone to take. You have been matched at the best available prices but not at a worse price.
When you see the YouTube vids, you might be getting confused because Peter uses a reversed ladder.