Hi, this is probably a question for the more experienced users of Betfair, a lot of the posts i've been sifting through reference many changes effecting the trading environment, but these date back up 3 years. Would anyone be willing to provide a reasonable current assessment on the challenges you and the likely challenges newbies will face?
For instance IMHO, the market seems like a complete illusion, there is to much money flashing in and out to be able to use any of the indicators of change in momentum to any good effect, and so far i would say around 60-70% of my trades move in the opposite direction (instantly) then will proceed to trade just outside a green position, yet still above the 100% book margin, it feels as though its MY trade that has caused the shift but i'm only using £10-50 per trade, so it cant be, can it?.
So any decent advise, not on how to trade but to the hidden challenges that need to be overcome which have taken effect over the last 2 years would be greatly appreciated.
Chin up.
Betfair overview
What times do you try and trade?
For me personally i started experiencing something very similar a while back and what i found by going through my BF account and watching back my days trading was most of my losses stemed from when i was opening trades to early, now i rarely get involved with over 5 mins to go and even then the must be at least 100K+ matched with a average increase per of around £250 upwards.
For me personally i started experiencing something very similar a while back and what i found by going through my BF account and watching back my days trading was most of my losses stemed from when i was opening trades to early, now i rarely get involved with over 5 mins to go and even then the must be at least 100K+ matched with a average increase per of around £250 upwards.
Depends on the market, if i feel there is an opportunity to make a small scalp or take a decent position then i'll enter before the 5 minute countdown, but generally the positions taken are within the 5 minutes 20 seconds, this isnt money that has been positioned. ie left waiting, when the eb and flow of the market is consistent and the market stable will I enter, then a sudden reverse in the opposite direction, no other horses price is moving except the one I traded, and its always just enough to make me take a small loss. This prompted the first post to whom I'm actually trading against, is it Betfair?, some super algo owned by one of the more experienced traders? a syndicate, are the large traders colluding to take smaller players out, it could be group of us small traders all doing the same thing at the same time?.
I'm hoping that some more experienced traders can explain the differences of trading 3-4 years ago to what its like now.
I'm hoping that some more experienced traders can explain the differences of trading 3-4 years ago to what its like now.