Some advice please to a relative newbie as to the pros and cons of reversing the book. Something I don't understand is this. - I wish to place a back bet at say 4.4 obviously hoping that the odds go down and so that I can then lay at a lower price of say 4.3 to achieve a profit. This I fully understand in the normal grid/ladder interface.
However if I reverse book And attempt to do the same thing, then effectively I am backing at the current lay price which in this case would be 4.5, higher than the true current back price of 4.4 and as the price is heading southwards, then how can this order ever be filled as it's surely got no chance of being filled unless it goes back up of course and something I don't want to happen if my intention was to lay next.
Realy struggling with the reverse book concept so any comments would be very much appreciated
Reversing the book
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JollyGreen
- Posts: 2047
- Joined: Sat Mar 21, 2009 10:06 am
I think you are confusing yourself Pablo.
When you reverse the book you are simply tricking the software into placing back bets at the lay price and lay bets at the back price.
If a horse is 4.30 to back and 4.40 to lay then reversing the book will change the colours so that it is 4.30 and 4.40
So now when you want to back at 4.40 you simply click on the Blue or if you want to lay you simply click on the Pink. You will notice that your order will not get filled immediately as you are simply joining the queue of money. Now if the price is heading south as you described, are you checking your entry point? If the price is definitely heading south then you may want to take the price on offer. However, this would generally only be a good idea on shorter priced runners where the money to support it is very strong. Conversely you may be laying first if the opposition is strong to cause a drift.
The prices I used as an example would be more conducive to scalping where the price is holding steady and you are looking to trade across the gap without the price heading south or north.
I used the colours to help you "see" the method and help you to understand. I hope it helps you?
When you reverse the book you are simply tricking the software into placing back bets at the lay price and lay bets at the back price.
If a horse is 4.30 to back and 4.40 to lay then reversing the book will change the colours so that it is 4.30 and 4.40
So now when you want to back at 4.40 you simply click on the Blue or if you want to lay you simply click on the Pink. You will notice that your order will not get filled immediately as you are simply joining the queue of money. Now if the price is heading south as you described, are you checking your entry point? If the price is definitely heading south then you may want to take the price on offer. However, this would generally only be a good idea on shorter priced runners where the money to support it is very strong. Conversely you may be laying first if the opposition is strong to cause a drift.
The prices I used as an example would be more conducive to scalping where the price is holding steady and you are looking to trade across the gap without the price heading south or north.
I used the colours to help you "see" the method and help you to understand. I hope it helps you?