Royal Ascot 2013
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AmazingMisterX
- Posts: 44
- Joined: Sun Jun 16, 2013 11:35 am
I'm still getting used to these types of markets so, after a promising start, I got my ass kicked a couple of times yesterday.
'High Jinx' for me as a good value prospect to take out the Gold Cup at Ascot today. The horse is an out-and-out stayer that stays on all day, ideal for this race. The track has a bit of give in it today as well due to some showers, ideal. Good 12-1 shot. Old favourite of mine that has made me a bundle In-Play before.
Euler wrote:A most amazing chart from the last race.
I almost got completely shafted on this but I left it open and it came right back in almost as fast as it went out and I ended up in the green from it! strange price action for such a big market!
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Jimrobo
Don't take this in anyway the wrong way, but why did you leave it open?
I'm pretty confident you are a regular winner from horses from your postings and don't usually post up any specifics or get involved with forum talk. Yet, earlier this week I think you said that trading is safer than gambling. I presume usually, you would be straight out of a situation as explained below, so any clues as to why you left it open and gambled?
$te
Don't take this in anyway the wrong way, but why did you leave it open?
I'm pretty confident you are a regular winner from horses from your postings and don't usually post up any specifics or get involved with forum talk. Yet, earlier this week I think you said that trading is safer than gambling. I presume usually, you would be straight out of a situation as explained below, so any clues as to why you left it open and gambled?
$te
sure its a fair enough question!
Basically. it had found some resistance around the 10s mark on its way out. I had a smallish green on it. Then a substantial order came through that shook most of the traders trading that level out of the tree. It was significant enough to trigger some traders stops and the move shot right out. Normally I would have been out by this point, however, it was a big market and I had looked to check the horse wasn't playing up. The combination of the size of the market, the fact the price had shot out way too quick for the size of the market without any significant event causing it IMO and the fact there was still some time before the race was starting meant I took the decision to leave the position open and I closed it back at 10s for a small green. I'd mitigated some of the loss anyway as I was trading 3 horses and was green on the other 2 before it started coming in. I had a limit I would have closed but until something major changed I was prepared to take some heat and see what happened.
Basically. it had found some resistance around the 10s mark on its way out. I had a smallish green on it. Then a substantial order came through that shook most of the traders trading that level out of the tree. It was significant enough to trigger some traders stops and the move shot right out. Normally I would have been out by this point, however, it was a big market and I had looked to check the horse wasn't playing up. The combination of the size of the market, the fact the price had shot out way too quick for the size of the market without any significant event causing it IMO and the fact there was still some time before the race was starting meant I took the decision to leave the position open and I closed it back at 10s for a small green. I'd mitigated some of the loss anyway as I was trading 3 horses and was green on the other 2 before it started coming in. I had a limit I would have closed but until something major changed I was prepared to take some heat and see what happened.
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Normal day at the office then!
I swear by these kind of trades for easy money these days. Peter said about looking for them a while back and now I find looking for these big huge spikes and getting a back in just after the off on long races. I often see spikes like that in weak markets that don't come back.and will move out to say 19s-25s just at the off with apparent good money on the lay side around 20s after the off for example I find at that time an offer to back to lay around 25s works well for example. Scale it up or down as you interoperate.. Always worth an offer on the back to lay I think within comfortable limits.
Like you say, these are supposedly solid.markets so it's.surprising how a 10k matched order (50k liability approx) at them odds suddenly scare away all the backers for a short while.
Ste
I swear by these kind of trades for easy money these days. Peter said about looking for them a while back and now I find looking for these big huge spikes and getting a back in just after the off on long races. I often see spikes like that in weak markets that don't come back.and will move out to say 19s-25s just at the off with apparent good money on the lay side around 20s after the off for example I find at that time an offer to back to lay around 25s works well for example. Scale it up or down as you interoperate.. Always worth an offer on the back to lay I think within comfortable limits.
Like you say, these are supposedly solid.markets so it's.surprising how a 10k matched order (50k liability approx) at them odds suddenly scare away all the backers for a short while.
Ste
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steven1976
- Posts: 1744
- Joined: Tue Jan 19, 2010 6:28 am
Sent from my shoe phone on a tropical beach by the way. So sorry for all the typos! Loads of mosquitos though so it isn't all good!