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From a trading perspective I like multi day high quality meetings. They usually throw up some good opportunities and are a welcome addition to the month.
As you may know these higher quality meetings produce extra volume and that can change the characteristics significantly. But don’t let Goodwood or anybody else fool you into thinking it’s the same as a Royal Ascot or Cheltenham, it behaves very differently. Goodwood benefits from decent volume but it’s not as much as some major meetings. Therefore it can be a little tricky at times to get exactly right. Goodwood is much better than the normal day to day fodder you are used to, but not quite on the same scale as other major meetings. Last year, at post time, it turned over around 40% on average of a typical Ascot race.
I’ve often had mixed results at Goodwood, so Tuesday is my day for ‘feeling’ the market and testing its boundaries. Day one is has some very competitive handicaps, so those should be an interesting base to work form on day one. There will be a variety of markets in the mix so half decent stakes and care will be my hallmarks for the day.
Goodwood
Here are some stats for you.
Back orders are filling faster than Lay orders so far at Goodwood. Average queue size is about double the normal markets but the fill rate per second is about the same, so it's taking about twice as long as normal for an order to fill at Goodwood.
Back orders are filling faster than Lay orders so far at Goodwood. Average queue size is about double the normal markets but the fill rate per second is about the same, so it's taking about twice as long as normal for an order to fill at Goodwood.
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Isn't it every day?
I was involved in a horse earlier in the day and it was backed in from about 2.4s to 1.8s. I kept going at it like a maniac and 20 seconds from the off the money on the back side 3 ticks behind the current price completely disappeared to zero pre off. I had the same last night on an Irish race where at the start time there was 40k matched. I got involved at 7s at the start time (short delay) and it immediately started going against me. I was scratching and handled it okay but after the official off time there had been 35k more matched asit steamed into 5.7s. I got it on vid actually. There feels so little real money in anything that I'm giving it a miss once the footy season starts. I only do it for fun but the funs going when it feels like every single penny you enter into the market can turn a price.
Ste
I was involved in a horse earlier in the day and it was backed in from about 2.4s to 1.8s. I kept going at it like a maniac and 20 seconds from the off the money on the back side 3 ticks behind the current price completely disappeared to zero pre off. I had the same last night on an Irish race where at the start time there was 40k matched. I got involved at 7s at the start time (short delay) and it immediately started going against me. I was scratching and handled it okay but after the official off time there had been 35k more matched asit steamed into 5.7s. I got it on vid actually. There feels so little real money in anything that I'm giving it a miss once the footy season starts. I only do it for fun but the funs going when it feels like every single penny you enter into the market can turn a price.
Ste
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Small traders complain the market always moves against them short term and large players complain they can't get filled and the market moves away from them and yet there is always the pretty much the same amounts being matched race to race. I think that tells a story in itself.
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
I just read your comments again Peter, and I'm not trying to be picky but why do you say the core problem is no one is taking "your" orders? I presume it was just a generalisation but just interested as to why you would say that.