Can I duplicate my pre off greyhound strategies with Crypto?

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Fugazi
Posts: 368
Joined: Wed Jan 10, 2024 7:20 pm

So I am having some small success now with greyhounds (£15 a day automated).

I feel like the same strategy should work on a crypto market with a few tweaks. However the hurdles to my mind

1) Crypto trading software with capabilities to create automations very similar to Bet Angel
2)Commission
3)Commission
4)Commission

I sense the big issue with using software to trade crypto is that it will have to go via a platform that will make very short term trading impossible due to commission? I.E I want to buy crypto at £1 and then sell 2 minutes later at £1.02.

Just wondered if this is correct, or if it is perfectly possible to trade like this profitably ?
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jimibt
Posts: 3715
Joined: Mon Nov 30, 2015 6:42 pm
Location: Narnia

Fugazi wrote:
Thu Apr 11, 2024 8:55 pm
So I am having some small success now with greyhounds (£15 a day automated).

I feel like the same strategy should work on a crypto market with a few tweaks. However the hurdles to my mind

1) Crypto trading software with capabilities to create automations very similar to Bet Angel
2)Commission
3)Commission
4)Commission

I sense the big issue with using software to trade crypto is that it will have to go via a platform that will make very short term trading impossible due to commission? I.E I want to buy crypto at £1 and then sell 2 minutes later at £1.02.

Just wondered if this is correct, or if it is perfectly possible to trade like this profitably ?
yes and no.. if you use leverage, then you can make decent amounts on small moves. however, it does mean that tight money management is needed and it gets tricky if you determine that you are not going to go any lower than 1:1R. also, the setups on crypto (especially the sh!t coins) present large spreads and unpredictable moves -i.e. a gamble. best sticking to the top 10 traded coins and looking at something like swing trading. again, this requires a good read of the micro and macro events that drive the market.

that said, if you're running a mechanical strategy that you feel is universal, then try it out. i use cTrader for my stuff as this allows you to code c# on top of the normal markets events (On_Tick, On_Bar etc). worth a look, even if to discount it.
Fugazi
Posts: 368
Joined: Wed Jan 10, 2024 7:20 pm

jimibt wrote:
Thu Apr 11, 2024 9:15 pm
Fugazi wrote:
Thu Apr 11, 2024 8:55 pm
So I am having some small success now with greyhounds (£15 a day automated).

I feel like the same strategy should work on a crypto market with a few tweaks. However the hurdles to my mind

1) Crypto trading software with capabilities to create automations very similar to Bet Angel
2)Commission
3)Commission
4)Commission

I sense the big issue with using software to trade crypto is that it will have to go via a platform that will make very short term trading impossible due to commission? I.E I want to buy crypto at £1 and then sell 2 minutes later at £1.02.

Just wondered if this is correct, or if it is perfectly possible to trade like this profitably ?
yes and no.. if you use leverage, then you can make decent amounts on small moves. however, it does mean that tight money management is needed and it gets tricky if you determine that you are not going to go any lower than 1:1R. also, the setups on crypto (especially the sh!t coins) present large spreads and unpredictable moves -i.e. a gamble. best sticking to the top 10 traded coins and looking at something like swing trading. again, this requires a good read of the micro and macro events that drive the market.

that said, if you're running a mechanical strategy that you feel is universal, then try it out. i use cTrader for my stuff as this allows you to code c# on top of the normal markets events (On_Tick, On_Bar etc). worth a look, even if to discount it.
Yeah its mechanical. Quite simply I just need more liquidity then I can squeeze from greyhounds.

It is more swingy then short scalps. I'm taking a price at say, 5 minutes out, and then taking the reverse of it at BSP. (So if I back at 5 mins, I lay it at BSP).

I'll check out some of that software's tutorials on Youtube, see if it has the kinda functionality I need with a friendly interface. I'm still not at C+ stage yet. I have found by trial and error something I can eventually make much much more efficient with C+ data, and make lots of iterations of once I'm not just using trial and error to find edges.
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Euler
Posts: 24892
Joined: Wed Nov 10, 2010 1:39 pm
Location: Bet Angel HQ

One of the big benefits of trading on Betfair is the low transactional costs. If they were introduced, a lot of strategies would not be viable. So when you try to translate strategies to traditional markets, this is one of the biggest hurdles.

One advantage of 'normal' investments is that they have some sort of yield, so that generally negates all trasactional costs which is why I prefer that over speculative positions.
Fugazi
Posts: 368
Joined: Wed Jan 10, 2024 7:20 pm

Euler wrote:
Fri Apr 12, 2024 11:03 am
One of the big benefits of trading on Betfair is the low transactional costs. If they were introduced, a lot of strategies would not be viable. So when you try to translate strategies to traditional markets, this is one of the biggest hurdles.

One advantage of 'normal' investments is that they have some sort of yield, so that generally negates all trasactional costs which is why I prefer that over speculative positions.
What do you mean by speculative ? Speculative because Im trading solely on market movement to fire an automated bet rather than analysing the event and finding something that is being under valued ?
Safeway
Posts: 103
Joined: Sat Mar 18, 2023 7:00 pm

Fugazi wrote:
Fri Apr 12, 2024 5:16 pm
Euler wrote:
Fri Apr 12, 2024 11:03 am
One of the big benefits of trading on Betfair is the low transactional costs. If they were introduced, a lot of strategies would not be viable. So when you try to translate strategies to traditional markets, this is one of the biggest hurdles.

One advantage of 'normal' investments is that they have some sort of yield, so that generally negates all trasactional costs which is why I prefer that over speculative positions.
What do you mean by speculative ? Speculative because Im trading solely on market movement to fire an automated bet rather than analysing the event and finding something that is being under valued ?
Traditional investments will have a yield or 'income' whether that be interest paid on bonds or dividends on shares. It is the original reason people purchased these. Crypto has no yield / income and if we're being honest is a pure gamble. There is no reason to buy it other than the hope that everybody will follow and the price will increase.

I am not dissing crypto and have my toe in the water - no further in than half way up me toe nail however....currently.

Obviously gambling markets are volatile but there are no dealing charges as such - just the painful commission and that's only when you get it right.

You make a bad call on traditional investments or crypto and having paid to get in then you have to pay to get rid of it. It makes short term trading extremely difficult but before everybody piles in......YES I know that profit can be made but its not for me, I would certainly fail :cry:
Anbell
Posts: 2107
Joined: Fri Apr 05, 2019 2:31 am

Fugazi wrote:
Thu Apr 11, 2024 8:55 pm
So I am having some small success now with greyhounds (£15 a day automated).

I feel like the same strategy should work on a crypto market with a few tweaks. However the hurdles to my mind

1) Crypto trading software with capabilities to create automations very similar to Bet Angel
2)Commission
3)Commission
4)Commission

I sense the big issue with using software to trade crypto is that it will have to go via a platform that will make very short term trading impossible due to commission? I.E I want to buy crypto at £1 and then sell 2 minutes later at £1.02.

Just wondered if this is correct, or if it is perfectly possible to trade like this profitably ?
I've not traded crypto. Is it possible to use tiny size to test?
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