I must say after attending Peters course my trading has improved by far. It has changed my perception of pure lay betting, as lay betting changed my perception of Back betting, after trading both are a Gamble, but being able to green up with no red monsters in the field that just come in and bite your bank hard in the butt is great. Ok trades may go wrong from time to time but there are ways to reduce the mistakes more control
Anyway my goal is to make say 5pts per Scalp (Greened up). At the moment my settings are as follows
Offsetting =1 , Placefill or Kill = 20
Stop at 5 Ticks (Trailing stop on), Place stop at 5 ticks
Tick size £1
My Trade range is between 3.5 -4.5
I use £100
So if we took a trade range of say 3.6 lay £100 = £260 and back at 3.85 = £285
The trade should equal to £25. For a green up Spread £25/2.6 =£9.61
If this is correct i am getting way below this. Would it have anything to do with the £1 tick size function. In time i want to put more through as i get better at the trades but it is important i understand R.O.I on trades i am putting through and of course what i risk losing if it goes pear shaped. I do like the trailing stop feature, gives you time to get out if the tides are about to turn
Can someone tick me in the right direction please
- JollyGreen
- Posts: 2047
- Joined: Sat Mar 21, 2009 10:06 am
Where did you get 2.60 from?So if we took a trade range of say 3.6 lay £100 = £260 and back at 3.85 = £285
The trade should equal to £25. For a green up Spread £25/2.6 =£9.61
If you lay first then back it is only reasonable to assume that more often than not you'll be laying your profit back into the market at the higher price. That would mean £25/3.85 = £6.49
If you backed first on a shortening price then it would be £25/3.60 = £6.94
You just did the calculation with the wrong price when greening up.