whats happening in these horse racing markets! My thoughts!

[Euler]

I've often pondering whether an extension of cross matching is the cause for increased short term volatility (jumpiness)

[steven1976]

The problem I always found with your named reverse bot is inconsistency......done days it's simply not there, done days it appears during a day. If it's an automatic system I can't see how it is so inconsistent unless it is triggered by specific conditions

We tend to hear bigger traders who use larger stakes on pre horse markets saying they can't get filled, where as smaller traders consistantly complaining it goes through them. Therefore it must be a "risk bot" that takes on board the risk it feels it can sell short term.

For inplay footy markets or games that are dependant upon a time frame, I've found it can be your friend if your willing to give a little first.

[LeTiss]

I think raising the subject of XM is important, because IMO it has ruined many markets

BF tried to make out it benefited everyone.....this of course was bollocks - it was just their way of hoovering up easy money before anyone else could

That aside, it's actually had an impact on how the markets behave. So much so, it's lead to people questioning the integrity of BF and those big hitters involved

It's a shame BF's greed got the better of them, because the efficiency of the markets always corrected any anamolies

[superfrank]

I think raising the subject of XM is important, because IMO it has ruined many markets

BF tried to make out it benefited everyone.....this of course was bollocks - it was just their way of hoovering up easy money before anyone else could

+1

and we shouldn't underestimate the effect it has had on newbie traders. when scalping was relatively easy, and liquidity was good, it gave encouragement to newcomers to stay in the markets - newcomers these days will find it a lot harder to start making profits than many of us did (and they will likely give up quicker imho). new traders' losses are essential to the lifeblood of any exchange.

i wonder if BA could comment on BA subscription renewal rates in the last few years as the exchange has declined?

[steven1976]

If the newbie loses every time he puts 50 quid at 10.5 then its not just his lost money, its his 5 referrals and so on.. bf are to blindly guided by the market makers, offering liquidity to gamble in my honest opinion and therefore give to much advantage to them.

[Groovyelms]

Hi All,

I'm not a newbie but feel like I have been trying to trade that way.. markets are just apalling so taking a big break from the doncs and just doing a little footy....

I know that this has prob been done to death... But what exactly is X matching and how does it work and affect the market?

groovy

[honeymill]

As a newbie, I've been offered advice on blogs and video that ten minutes before the off is the best time for scalping.
This may have been true in the past but I am finding that - in the case of favs in particular - scalping gains are being wiped away in the last five minutes of trading. Maybe it's now best to scalp early and get out early to avoid the tricksters?

[PeterLe]

Hi All,

I'm not a newbie but feel like I have been trying to trade that way.. markets are just apalling so taking a big break from the doncs and just doing a little footy....

I know that this has prob been done to death... But what exactly is X matching and how does it work and affect the market?

groovy

Groovy
This is the best explanation I have found..
https://bdp.betfair.com/index.php?optio ... &Itemid=62

Its a straight forward equation once you understand what it is trying to do.

Having said, Im not convinced the Cross matching (XM) algorithm is 'exactly' the same as when first introduced. Id even go so far as to say it has changed more than once or some integral factor. Either that or betfair have added to the standard algorithm in some way.
Its hard to spot when it is switched on or off in the PreRace markets (I have a video on youtube somewhere showing the slight difference..)..but is is more noticeable in play.
Its also in the company reports (?) that Betfair were making circa 300K?month as a direct result of this 'skiming' activity
Incidentally, I had some of my best months directly after XM was introduced, which is why I say that some other factor changed thereafter
Regards
Peter

[Euler]

The change in fill rate seems comparable to me to that when XM was first introduced. It became harder at that point to judge were you were in the market because you couldn't be sure it your order would fill next. So when I discussed with Betfair the change in behaviour I asked them to look at whether somebody had tweaked and change the scope of XM, because that is what it felt like.

[Groovyelms]

My thanks to "PeterLe" for the explanation and attached link.. have'nt got my head round it yet, but at first glance it seems to make a mockery of the way betfair used to operate with backers and layers matching each other....

More study required to fully understand this
groovy

[Euler]

XM only tends to kick in on small fields where the market could go over-broke.

[hgodden]

I haven't traded since just before Christmas so I can't comment on recent activity. I start back tomorrow and will be very interested to see the state of play.

[PeterLe]

I haven't traded since just before Christmas so I can't comment on recent activity. I start back tomorrow and will be very interested to see the state of play.

Blimey H, that's a nice break! I was back to work on the 2nd! One day....

[hgodden]

I haven't traded since just before Christmas so I can't comment on recent activity. I start back tomorrow and will be very interested to see the state of play.

Blimey H, that's a nice break! I was back to work on the 2nd! One day....

Haha you're more hardcore than me then! It was actually the first time in 7 or so years that I've had more than a week off, normally my trips are cut short to 3 or 4 days so that I can get back to trade next Saturday's racing! Is nice to have a decent refresh though, although my trip wasn't all about pleasure, was more about helping out family. Though at least it was in the warmth and not what I'm seeing outside my window today, makes me wonder how we live in such conditions

[PeterLe]

Good stuff, there's nothing wrong with taking a break! Its just been hail stoning here in Manchester!