Hi, I have just returned to trading after spending the last couple of years spread betting Forex markets and I have tried pre race trading before [and to be honest was dire at it.]
I have decided to jump back into the shallow end and focus on pre race trading the place markets.
Are there many of you here who trade this market and on the whole how have you done ? From the little that I have seen since my return it seems to trend better than the win market and suffer less manipulation.
Thank you for your time.
Pre Race Trading the Place Markets.
haaa... from Forex to Betfair Place Market?
Going from the most liquid market in the world to one of the least liquid market.
I'd want to do it the other way round
(just teasing)
I don't trade the normal day-to-day Place markets, just the big meetings.
That is simply because with a small bank I can't even tickle the Win market at big meetings, and have to wait in very large order queues (a lot of time can be lost/wasted trying to get 1 tick).
So at such times I will switch over to the place market, use my entire bank to try and make some decent return. I can make better use of time and stake in the place market in these situations.
But the everyday average place market is less than an ideal trading ground for making any serious money - simply cause the fill-rate is much much slower, and only small stakes floating about. You could use a measly stake of $250 (trading odds-on) and find that the floor (or ceiling) shifts from under you.
BTW - don't worry about manipulation (as a Forex trader you should've seen it on much grander scale with ""investment"" banks than anything Betfair could fling at).
I know it's a hot topic on the forum right now - but doesn't bother me. I just accept/embrace and trade with or around it. It can be a wonderful catalyst at times.
Going from the most liquid market in the world to one of the least liquid market.
I'd want to do it the other way round
(just teasing)I don't trade the normal day-to-day Place markets, just the big meetings.
That is simply because with a small bank I can't even tickle the Win market at big meetings, and have to wait in very large order queues (a lot of time can be lost/wasted trying to get 1 tick).
So at such times I will switch over to the place market, use my entire bank to try and make some decent return. I can make better use of time and stake in the place market in these situations.
But the everyday average place market is less than an ideal trading ground for making any serious money - simply cause the fill-rate is much much slower, and only small stakes floating about. You could use a measly stake of $250 (trading odds-on) and find that the floor (or ceiling) shifts from under you.
BTW - don't worry about manipulation (as a Forex trader you should've seen it on much grander scale with ""investment"" banks than anything Betfair could fling at).
I know it's a hot topic on the forum right now - but doesn't bother me. I just accept/embrace and trade with or around it. It can be a wonderful catalyst at times.
Switesh , many thanks for your reply - I appreciate it.The points that you make have given me food for thought.I still intend to trade the Forex markets, but since I tend to hold my positions for two/three days + , I was looking for another avenue that I could trade during the day.
I find the place markets are good for trialling certain automated systems; particularly those which don't involve trading, i.e. value betting. The lower variance of these markets means that over time, a system can be proven to be successful (or not) a lot quicker and/or more accurately than the same system in the win markets.
Of course, not all systems will work in both markets, but if you don't know which market type to try, then I believe the place markets are a good place to start.
Of course, not all systems will work in both markets, but if you don't know which market type to try, then I believe the place markets are a good place to start.
I used to trade the pre race place markets (for years) before switching to in-play win markets. Found them consistently profitable - used to stick to shorter price runners in non handicap, maidens, novice hurdles etc. I used to choose these markets because they were less volatile, more predictable - only gave up when the PC kicked in and I wanted to cut hrs down. A good area to focus imo
Hi cat, sorry slow to respond, have been on hols.
I used to aim to trade before markets went inplay - back to lay - occasionally (rarely)some money went inplay.
When I stopped working the strategy I checked on 3 years results and found I'd have made more straight punting my selections - not sure I'd have found it as stressless as trading with the figures involved but it does give pause for thought.
I used to aim to trade before markets went inplay - back to lay - occasionally (rarely)some money went inplay.
When I stopped working the strategy I checked on 3 years results and found I'd have made more straight punting my selections - not sure I'd have found it as stressless as trading with the figures involved but it does give pause for thought.
Hi Kalumpus.I hope that you had a good holiday.Many thanks for getting back to me , I appreciate it.
I have given up on the place markets[lack of fluidity].
The strange thing is that as a consequence of the Forex trading , I appear to be trading with greater success in the win markets.
Although the pre race is undoubtedly tricky - I do not think that it contains as many sharks as financial spread betting.
I have given up on the place markets[lack of fluidity].
The strange thing is that as a consequence of the Forex trading , I appear to be trading with greater success in the win markets.
Although the pre race is undoubtedly tricky - I do not think that it contains as many sharks as financial spread betting.