Melbourne Cup

[Yantraman]

If I can stay awake - or wake up in time I thought i might have a look at trading the MC this year. Has anyone had any experience with this before - I am curious as to compares with trading a UK G1 race.

With an off time at 4.00am its for hardcore traders only!!

[andyfuller]

I used to do it but these days it just isn't worth it for me since the new PC came in so I no longer get up for the Oz markets but they are well worth a look. I know someone not on this forum who makes more from the Oz markets each week than he can on the UK markets quite often. He is non to shabby at trading the UK racing as well.

Peter does well on them as well I think, sure he will be up doing it according to his blog post the other day.

[superfrank]

when does he sleep?!

what does he do for TV pics?

cheers.

[Euler]

I've done the Melbourne cup for a few years. The markets are not the same as in the UK but are worth a crack if you are up for it. The first year I did it I completely flunked it, the second year I did a bit better and by the third year I had managed to get it right.

The problem I face this year is similar to Andy in that I need to do at least 2.5 times as much as in previous years to stand still after commission, so thats completely unrealistic. But I am still going to give it a bash.

[andyfuller]

Money doesn't sleep Frank

He uses ATR and the online radio which is or at least was near to live and covered all the tracks.

When you spend a busy Saturday trading the Oz markets you really do realise how pi$$ poor the organisation of UK racing is.

He doesn't restrict himself to just Saturdays these days as he finds other days perfectly tradeable.

He isn't in Peter's league I would say but makes a good bit non the less, his approach is volume as opposed to quality. He would sooner trade the smaller tracks than the big Group races. Saturday he pulled in £1,600 from the Oz markets and he doesn't use a particularly big bank, that was at the upper end of what he can pull in from a night trading them btw.

[superfrank]

how does the 'Australian licence wallet' thing work?

can you just transfer in and out at leisure with no cost?

[Euler]

There is no cost for transferring between walletts.

[superfrank]

gonna give this a go tonight if I can stay awake.

I found Sky Sports Radio Australia http://www.2ky.com.au/ - does anyone have an idea of the delay?

The markets are not the same as in the UK

can you give me clue what you mean by that?

[Euler]

Less liquid so its harder to exit a position.

The sky feed is pretty much real time.

[superfrank]

thanks.

they can't be that illiquid if Andy's mate can make that kind of money from them!

[Euler]

I think you could have the opposite problem tonight and find there is too much money in the market. It's all about fill rate ultimately and if the fill rate is poor you end up taking too much risk.

[bilko]

Sounds from the blog that Peter is in Aus hopefully he will get a VPS sorted if he is?

[andyfuller]

Sounds from the blog that Peter is in Aus

Please tell me if you have gone all that way you are going to experience Flemington and the Melbourne Cup in person and not sit behind a computer trading it

I was there for Makybe Diva's 3rd Cup and had the amazing opportunity of going to spend the morning with her the next day. My Makybe Diva cap I bought on the day of the race still has pride of place on my wall.

The view we had on the day:

[Photon]

Sky radio not working so perfect timing. I'm hoping they're not on strike.

[superfrank]

That first race was a big disappointment... fav didn't move and only very late money for the eventual winner and big drift on the 2nd.

Seemed like largish amounts going in but not that much actually matched. And nothing in-play.

Is this typical?!