Just a general question about weight of money on eg horse racing.
I have seen on the forum people say that wom is an important factor to take into account when making a decision about a trade.
On some of the pre race markets I have seen wom at say 70% on the back side, indicating that there is a downward pressure on the price, yet on many occasions despite that 70% pressure the price goes in entirely the opposite direction upwards even though wom continues to indicate downward price pressure (and vice versa when the wom indicates the price will rise)?
Am I misunderstanding what wom is telling me?
Comments and opinions welcome.
Thanks
Weight of Money
What does that tell you about WOM as an indicator?
yes if you are mistaking it for
-weight of flow-
amount of matched volume against the price action
wom : amount of unmatched volume on best 3 prices , both sides of the market.
some genuine ,some not, some crossmatched.....etc
in your scenario :
it could indicate closing bets waiting to be filled after the participants have exhausted their opening bets tilting the balance in the opposite direction.
Thanksdecomez6 wrote: ↑Wed Apr 17, 2024 2:50 pmyes if you are mistaking it for
-weight of flow-
amount of matched volume against the price action
wom : amount of unmatched volume on best 3 prices , both sides of the market.
some genuine ,some not, some crossmatched.....etc
in your scenario :
it could indicate closing bets waiting to be filled after the participants have exhausted their opening bets tilting the balance in the opposite direction.
I find it useful when manual trading in conjunction with position in queue.
When the hunters become the hunted :
Big traders will iceberg orders , they come and leave without leaving a trail of evidence. BUT .. sometimes you get bombers from misfiring bots ( fat fingers)
OR bots that have been Flashed by bigger traders.
So be weary when using your wom condition. It could be a hunting ground for other bots that will trigger your bot ,to show your hand.
In that sense wom is useful for the hunter of stop losses and also for you to know when it happens.
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I find WoM (or a version of it) very handy to identify when money comes off the ladders.
Its a good indication that something has happened in the market that the fast feeds / courtsiders have picked up, say in cricket or footy and you are behind them timewise.
Inplay, you can cancel bets immediately but subject to a bet delay for any placement, so good indicator of a significant event and opportunity to cancel any bets you have waiting to be matched before they are swept up.
That said my attempts to automate a "cancel" bets rule on cricket have so far been v inconsistent so suspect easier said than to do well...
Its a good indication that something has happened in the market that the fast feeds / courtsiders have picked up, say in cricket or footy and you are behind them timewise.
Inplay, you can cancel bets immediately but subject to a bet delay for any placement, so good indicator of a significant event and opportunity to cancel any bets you have waiting to be matched before they are swept up.
That said my attempts to automate a "cancel" bets rule on cricket have so far been v inconsistent so suspect easier said than to do well...
Indeed, they will be among the first to scurry away, and the instant cancel mechanic is open to various "abuse"sionascaig wrote: ↑Sat Apr 20, 2024 9:12 amI find WoM (or a version of it) very handy to identify when money comes off the ladders.
Its a good indication that something has happened in the market that the fast feeds / courtsiders have picked up, say in cricket or footy and you are behind them timewise.
For OP's use case it's pretty useless I'm afraid, otherwise 90% of newbies would be profitable inside the first week
Yup, I think that comment wrt newbies hits the nail on the headKai wrote: ↑Sat Apr 20, 2024 10:07 amIndeed, they will be among the first to scurry away, and the instant cancel mechanic is open to various "abuse"sionascaig wrote: ↑Sat Apr 20, 2024 9:12 amI find WoM (or a version of it) very handy to identify when money comes off the ladders.
Its a good indication that something has happened in the market that the fast feeds / courtsiders have picked up, say in cricket or footy and you are behind them timewise.
For OP's use case it's pretty useless I'm afraid, otherwise 90% of newbies would be profitable inside the first week