Posts Tagged trade
Worst trade ever?
Posted by Peter Webb in Bet Angel on July 13th, 2009
I wonder if this was the worst trade ever, or maybe just a blinding cock up of some sort by somebody?
Anybody trading this market couldn’t have failed to notice the sudden appearance of a £100k order in the book. This person was desperate to get filled on the back side and the order persisted for ages. I can only speculate what happened here, as when I looked at the data I couldn’t clearly see any particular strategy behind it. I was so engrossed in taking out the price in front of the money I failed to grab an image. So thanks to the Bet Angel user who sent in this screen shot.
This image is a good illustration of how full market depth, traded price and other information can help you. If you were just looking at the three back or lay prices and nothing else you would have seen a completely different picture. If you have been trading without this data you may already be substantially behind Bet Angel users who have had this advantage for years. You can never have enough information to trade from!
Being contrary
Posted by Peter Webb in Bet Angel on February 3rd, 2009
Steamer at Lingfield
I often look at these moves and do the opposite. It’s easy to get sucked into such a move and follow it. You can see that it has come in a long way, the market likes it, but also it has accounted for a disproportionate amount of volume, £239k out of £284k for the total market! But of course it can’t go all the way into 1.01, that would be impossible. So at some point people have to stop backing it and the price will rebound. That’s exactly what happened today. Catching this move also benefits you in another way. When the price rebounds, it tends to do so with a lot of vigour as most people in the market can’t help but follow the trend. When the trend breaks, everybody heads for the door and there lies your opportunity.
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