Most of my trades seem to be going the same way in that I try and time my entry point based on WOM, movement of the favourite and the last traded price trend only to be faced with a volume spike in the opposite direction. Would this be an indication that I'm too late in on the trade? I'm actually even struggling to get a scratch trade in as it usually plummets downwards.
I've been trying to focus on races where the risk meter is below or around 50 as I assumed this represented stable or less volatile conditions to trade but I'm still finding the top 2 move a hell of a lot. Infact I'm struggling to distinguish much difference in movement between a race with a risk reading in the 90's and a race with a risk of 20, I'm sure this is just practice though.
Also I've been trying to take a look at the upcoming races in guardian to see if I can identify what will happen with market movement for each race. So far though nothing is clicking and each race feels relatively the same i.e I've no idea how the market will move. The only thing I've really noticed is there seems to be quite a bit of movement when there's no clear favourite. Is there any tips to identify how a market might move based on how each horse is priced? I'm currently staring at the market overview graph and struggling to see any real pattern emerge. I can clearly see that movement of the favourite has the inverse effect on the 2nd favourite but then the price can sharply swing back the other way and I'm left scratching my head as to why.
Volume Spikes
Hi Consty.
Im Not a sucessfull trader but a couple of months ago i was where you are now,and i know its really hard ,but the good news is that if you really want it you will get there,
No one can really tell you where a market will go and there is not one size that fits all,traders have different styles,some scalp some look for large movements ,some trade inplay and others trade before the off,so really you will find your own comfort zone with your limit of risk and your steak size relevant to your bank.
you will learn alot from BETANGEL TV.its on youtube and the betangel website,go hunting there is a wealth of info out there on the net,in traders blogs and things like that.even on here read through the forum ,and read it took me months to do ,but thats what it takes to reach the next level.here is a link to peter webbs new service get involved with that ,ill be joining this week also.there are articles to read ,educational videos.webnar.etc for 49.99 per month inc betangel software,
Keep the faith you will get there,
click on the members area,
http://www.bettingexchangeacademy.com/m ... -to-tradng
Reards
Marc
Im Not a sucessfull trader but a couple of months ago i was where you are now,and i know its really hard ,but the good news is that if you really want it you will get there,
No one can really tell you where a market will go and there is not one size that fits all,traders have different styles,some scalp some look for large movements ,some trade inplay and others trade before the off,so really you will find your own comfort zone with your limit of risk and your steak size relevant to your bank.
you will learn alot from BETANGEL TV.its on youtube and the betangel website,go hunting there is a wealth of info out there on the net,in traders blogs and things like that.even on here read through the forum ,and read it took me months to do ,but thats what it takes to reach the next level.here is a link to peter webbs new service get involved with that ,ill be joining this week also.there are articles to read ,educational videos.webnar.etc for 49.99 per month inc betangel software,
Keep the faith you will get there,
click on the members area,
http://www.bettingexchangeacademy.com/m ... -to-tradng
Reards
Marc
Hi Consty1,
I think the problem a lot of new traders have is information overload. There are a lot of things going on in the BA interface and a lot to keep track of.
Try being a bit more selective with your attention and concentrate mainly on the ladder while glancing every now and then on the other runners in the market and the weight of money.
The Risk Meter is about as useful as a concrete parachute and should not be used as a guide IMO.
Focus on the ladder. If you look at the numbers long enough they will start to make sense.
Good luck
I think the problem a lot of new traders have is information overload. There are a lot of things going on in the BA interface and a lot to keep track of.
Try being a bit more selective with your attention and concentrate mainly on the ladder while glancing every now and then on the other runners in the market and the weight of money.
The Risk Meter is about as useful as a concrete parachute and should not be used as a guide IMO.
Focus on the ladder. If you look at the numbers long enough they will start to make sense.
Good luck
Volume spikes still seem to be appearing at all the worst possible moments but I've reversed the book and I seem to be able to scratch trade a lot easier now. My results are still awful despite my knowledge increasing but I guess I'll just stick with it and hope something clicks.
Can someone install some confidence in me that it's actually possible to make money doing this? I need some kind of goal to keep me motivated!
Can someone install some confidence in me that it's actually possible to make money doing this? I need some kind of goal to keep me motivated!
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CaerMyrddin
- Posts: 1271
- Joined: Mon Sep 07, 2009 10:47 am
You're first goal should be not to lose money. 
HiConsty1 wrote:
Can someone install some confidence in me that it's actually possible to make money doing this? I need some kind of goal to keep me motivated!
C i dont mean to sound a kill joy but one of the mindsets i had to learn was not to think about making money, more how to trade and get points. If you think about it as soon as you deposit that money to betfair as money from your bank it is gone spent, untill any of it comes back to your account. It is more of a focus on trading than making money in the early stages,when you can trade, scratch in profit consitenly be it 0.50p -whatever, you then work out a strategy and sound rules as to how much you want to achieve every month, year etc, as the thought process emotions of loosing will destroy your focus on how to trade
Good luck, i lost 500 pts at the weekend, got back 60 pts of it already chin up look forward
I must add that I've played online poker for a living before so the actual mindset of making +EV decisions and maintaining emotional control comes quite naturally to me now. I have a reasonably sized BR on Betfair so the money side of it is also no problem.
I just want to be sure that there's still potential to profit through trading as I don't want to throw myself into it (and I know I will) without knowing there's reward for hard work at the end of it.
I just want to be sure that there's still potential to profit through trading as I don't want to throw myself into it (and I know I will) without knowing there's reward for hard work at the end of it.
Trust me there isConsty1 wrote:I must add that I've played online poker for a living before so the actual mindset of making +EV decisions and maintaining emotional control comes quite naturally to me now. I have a reasonably sized BR on Betfair so the money side of it is also no problem.
I just want to be sure that there's still potential to profit through trading as I don't want to throw myself into it (and I know I will) without knowing there's reward for hard work at the end of it.
Good Luck