Help for new Traders. Evening Racing - flow of money

[redtra]

Here's the issue. When I put up a video it gets copied in some form and used elsewhere either to berate me or Bet Angel in general. Now I know that none of the loyal members on here would do that but there are lurkers who would do so at the drop of a hat. Let me speak with Peter and see what he thinks.

JG

How about sending it out only as PM's to those of us you know about? You will know exactly who sees it then. Then we can still discuss it here on the forum...although i dont know if you can send out a video as a private message.

[Groovyelms]

Hi JG,

Think we would all like to see an example to help us. maybe put it up on utube/vimeo ect and list the link either here or pm?

[BennyBlanco]

Thanks Jolly Green - some really interesting advice on this!

If a video is put together - would be interested in viewing this.

Cheers

[brianpotter]

Thank You most helpful

[kroni]

Thanks Steven. It is often a sign that someone is trying to obfuscate things. This is just my personal view but I think the first amount is a taster, a kind of warning signal. If it starts to erode too quickly the owner has time to think about the position and give a Dragon's Den answer "I'm out!"

You will see a similar ploy on a drifting horse in normal markets. The spoofer queues money above the high point to give the impression that is the true ceiling. They then place lay money to attract the backers. If they get a few takers they suddenly withdraw the money above and the price takes off. It is usually accompanied by the screams of the backers shouting "WTF!!"

I find the best way to combat that is to be cautious and wait. I tend to assume it will drift but I have an "if" so to speak, so I wait. I then let the spoofer both set and spring their trap before I quickly join with a lay. What tends to happen is the market overreacts as backers chase their losing position. This chasing forces the market to move much quicker than normal so you must be quick and you must not be greedy. I stress not being greedy and this is why. When a market does overreact in this way it can often push beyond the acceptable high. When this false high is recognised it will reverse back in so quickly you can get caught out.

How do you spot this false high? Generally I look at the amounts traded and compare them to earlier amounts. If you see thin amounts traded it can often suggest it has been caused by overreaction so be ready for the reverse. If however the amounts continue to rise then you may be onto a real big drift so squeeze the lemon for as much as you can get and then squeeze the pips too!!

If you would like to ask questions then please feel free. This is general advice, obviously I cannot give specific amounts or ratios..sorry!

I'd like to thank JollyGreen for all the helpful information in these threads its helped me a lot. I read back through them often and pick up a little more each time (I'm a slow learner).
I must of missed this thread and the quote above explains a lot to me. I find this happens to me regulary in the market, I place a lay anticipating a drift, it then will drift afew ticks then before I know it, it has steamed back in and I find myself from being in a profitable position to suddenly in the red.

Today I traded with this in mind and enjoyed some success by greening up after just afew ticks as to try not to be greedy, on some occasions the market did reverse so I was pleased I had greened up, but on a couple of occasions the market carried on drifting by quite a distance and couldn't help thinking I had cut my profit short by someway. Maybe next time I will look at the volumes as you say to see if looks like it will keep drifting.
As I have seen the words "cut losses short and let profits run" many times on here, this seems to be my problem im cutting both my losses and profits short which is overall is making me unprofitable.

thanks