4:00 Newcastle - how weird is this?

The sport of kings.
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JollyGreen
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Joined: Sat Mar 21, 2009 10:06 am

I couldn't grab all of the data quick enough but I managed to get the attached shot.

I had traded this quite well and was waiting for the price to move in when suddenly it collapsed. If you look at the volume spike you will see there is a £10K spike which took my orders sat higher up. I had traded the position but had more money on the back position as I felt this was the next move. I could not believe my eyes when the price collapsed but there were no money spikes! I am assuming it was XM in action to the extreme! That or someone held all of the money queuing up to lay it and they pulled the plug on the lot. You can see there were no real volume spikes when the price collapsed into 2.80!

I wouldn't normally be looking to back at this crossover point but I had laid lower and as I say my other positions were sat above 3.0

Did anyone else notice it?
what happened.png
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steven1976
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Joined: Tue Jan 19, 2010 6:28 am

Don't believe everything you see Jolly. Yesterday, I was bored so started trading the first race of the day 30 mins out. I was seeing 10Ks getting matched both sides of the book the second I got involved. We are not talking talking 3 mins from the off when there are a lot of traders but 25 mins. The second I gave up for a 2 pound loss them big bets soon dried up.
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LinusP
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Joined: Mon Jul 02, 2012 10:45 pm

Looks like cross matching, I assume the money matched to cause this would be shown on the other horse where I guess someone put a big lay order in??
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JollyGreen
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Joined: Sat Mar 21, 2009 10:06 am

steven1976 wrote:Don't believe everything you see Jolly. Yesterday, I was bored so started trading the first race of the day 30 mins out. I was seeing 10Ks getting matched both sides of the book the second I got involved. We are not talking talking 3 mins from the off when there are a lot of traders but 25 mins. The second I gave up for a 2 pound loss them big bets soon dried up.
Well the £10K was a genuine order that was matched on the lay side and it duly forced the price up and took my orders. The collapse down to 2.80 was not caused by any large orders. In fact according to the data I had at hand the largest order was £1K. I can only think it was a result of XM.
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jimrobo
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Joined: Wed Mar 25, 2009 12:49 pm

theres been a lot of huge walls of money put on several price points at once then pulled suddenly all afternoon. On the back and Lay side. More so at Windsor though.
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steven1976
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Joined: Tue Jan 19, 2010 6:28 am

Out of interest how close to the off was it and once your 1K was taken on the back side, what did you do. Did you leave it open or sell it out?
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JollyGreen
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Joined: Sat Mar 21, 2009 10:06 am

steven1976 wrote:Out of interest how close to the off was it and once your 1K was taken on the back side, what did you do. Did you leave it open or sell it out?
Not sure of the exact time but I would say 3 minutes. Once my order was taken on the back side I was already in profit as I had laid lower down. I then held on as I was expecting the price to shorten again. What I was not expecting was the price to collapse like that into 2.80 It was welcome but unexpected!
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