What are the best markets to trade?

[marky77]

Horse Racing - Is there an ideal market to watch out for to trade on? (Such as number of runners/volume of money/time to bet etc etc?)
Ive basically set up a rule on Guardian to attempt to scalp (I think its called?) with small stakes and perhaps quite foolishly I've basically loaded every horse win market throughout the day (UK/IRE/AUS/USA etc), Some days Ive done ok, others broken even, others lost. Overall I'm down over the last few weeks and I'm a bit disillusioned.

Now I'm not saying I've lost my life savings or anything daft like that, just seems like nothing I try is working

Thanks

[conduirez]

I think you need to look at the markets and see what is happening in more depth and work out a structure for a bot.

Just writing a bot and applying it to every market is not really the answer, have you analysed what markets you won on, and which cost you the most, look at your data first. If you have not kept data look at your profit and loss on Betfair analyse it with data from results, you may find you are only successful in Handicaps etc.

[marky77]

Thanks - I will have a look into this.

[Fugazi]

Wasting your time creating scalping automations as a newbie

A lot of really good traders on here haven't managed to make a successful scalping automation.

[conduirez]

Wasting your time creating scalping automations as a newbie

A lot of really good traders on here haven't managed to make a successful scalping automation.

Wow, how do you know if the OP strategy will work or not, he has already had winning days, so he needs to refine and find out what the losses are.

If you think no one just starting to get into automation can make scalping work, it may be best if you get Peter and Dallas to change the wording on this section of the manual 'Not for newbies' as you call them.

Scalping 2024-04-19 231051.png

[Fugazi]

Wasting your time creating scalping automations as a newbie

A lot of really good traders on here haven't managed to make a successful scalping automation.

Wow, how do you know if the OP strategy will work or not, he has already had winning days, so he needs to refine and find out what the losses are.

If you think no one just starting to get into automation can make scalping work, it may be best if you get Peter and Dallas to change the wording on this section of the manual 'Not for newbies' as you call them.

Scalping 2024-04-19 231051.png

I think even Peter himself struggles with true scalping.

Also, I said a lot of really good traders. That does not mean all. I just think scalping is one of the hardest avenues and don't know of many people doing it successfully.

I think everyone starts with scalping at first, wastes a lot of time.

[andy28]

This maybe a good start to build from

viewtopic.php?t=11538

[The Silk Run]

Wasting your time creating scalping automations as a newbie

A lot of really good traders on here haven't managed to make a successful scalping automation.

Are you able to qualify that statement !!!

"A lot of really good traders on here haven't managed to make a successful scalping automation"

And what do you consider a "good trader"

All I can say is to people considering sports trading is to avoid negative comments from people like Fugazi and focus on the positive comments in this community, of which their is a lot ....

Your talking absolute shit. And I'm sounding you out !!!

[decomez6]

Horse Racing - Is there an ideal market to watch out for to trade on? (Such as number of runners/volume of money/time to bet etc etc?)
Ive basically set up a rule on Guardian to attempt to scalp (I think its called?)

If you are going for more than one tick , it's no longer scalping .
Make sure to ask for prices, then you can always scratch a trade that goes against you and also help your opening position by adding pressure in the right direction.
Look for market with a narrow traded range and highly competitive selections.
The lower the odds , the higher it's effects on the market.

-Remember the mid point of the market is 2.0........
One half is from [1.01 to 2.0 ]and other half [2.0 to
1000]
Things move and behave differently on each half.
You can only have one selection occupy the first half , all other selections must occupy the other half .

Hence the number of selections will play a role on how volatile the market becomes.
The last two minutes , Just before the reset is more volatile.
Look at you charts !
If you see a price that is trapped within a range , it could be a good candidate BUT ... The more the number of times it's attempting to break the lower your stakes should .For when it breaks , you are in for a big red!!or green

[Fugazi]

Wasting your time creating scalping automations as a newbie

A lot of really good traders on here haven't managed to make a successful scalping automation.

Are you able to qualify that statement !!!

"A lot of really good traders on here haven't managed to make a successful scalping automation"

And what do you consider a "good trader"

All I can say is to people considering sports trading is to avoid negative comments from people like Fugazi and focus on the positive comments in this community, of which their is a lot ....

Your talking absolute shit. And I'm sounding you out !!!

A) Good trader - consistent profits. Usually been around here for some years though some nail it a lot quicker.

B) scalping - entering a trade then exiting one tick later

Perhaps I am wrong and there are lots of people with winning automations scalping as per B

And perhaps I should have made an alternative suggestion for OP. Trading is great, as are automations. I just think scalping as a first automation can be really difficult. My recommendation would be to try any of the other automations Dallas has made first and see if you can get one working. There are hundreds to choose from.

Thats how I started to learn. Look at Dallas automations and think about what the automation is trying to take advantage of and what markets might work better with it and have a mess around with entry/exit points and the other settings. Usually you have to make a quite significant adaptation, trial and error of the existing settings wont get you there a lot of the time.

For example betting the gap. What is a gap telling me ? Why does it fail on its original settings (answer: even with a gap, there is often still value on the back or lay side someone is picking off. Value gets picked off more often than a random punter coming and taking a bad price )

From this - how do I make it profitable? Answer - having knowledge of where the price roughly should be. Know where the price should be is what people won't directly tell you how to do, though may advise things like following specific dogs for weeks, knowing when it is in season, avoiding races where trainers have multiple dogs entered etc etc

[Fugazi]

Wasting your time creating scalping automations as a newbie

A lot of really good traders on here haven't managed to make a successful scalping automation.

Wow, how do you know if the OP strategy will work or not, he has already had winning days, so he needs to refine and find out what the losses are.

If you think no one just starting to get into automation can make scalping work, it may be best if you get Peter and Dallas to change the wording on this section of the manual 'Not for newbies' as you call them.

Scalping 2024-04-19 231051.png

This section of the forum is literally titled ' Bet Angel for newbies'

Maybe you should suggest to the forum owner it should be changed.

Suppose its only stupid if I say it.

[Kai]

Wasting your time creating scalping automations as a newbie

A lot of really good traders on here haven't managed to make a successful scalping automation.

Are you able to qualify that statement !!!

"A lot of really good traders on here haven't managed to make a successful scalping automation"

And what do you consider a "good trader"

All I can say is to people considering sports trading is to avoid negative comments from people like Fugazi and focus on the positive comments in this community, of which their is a lot ....

Your talking absolute shit. And I'm sounding you out !!!

I don't necessarily see it as negative/positive comments

End of the day it's just one opinion, it's what makes the market

If we all conform to the same opinions we're going to have a problem