I am quite new to trading and was wondering if there are any full time Australian-based traders out there? I assume there must be, so do you make your living trading Australian markets, or is it a case of burning the midnight oil on the UK races?
I am wondering this because as far as I can see so far, Saturday is the only day when there is enough liquidity in the Australian markets to trade with confidence. Or am I missing something big?
Also, do you use Betfair or Betdaq?
Any Australian full time traders?
I'm in NZ, have played the big Australian races for several years on Betfair. In most Aussie races there isn't any liquidity though, only in the big feature races - the famous three are the Caulfied Cup, Cox Plate and Melbourne Cup.
Only recently I started looking at the UK races and only recently signed up with Bet Angel for the first time. First idea I tried with an automated Excel spreadsheet on the UK races was just raking in the money non-stop all night, with a whopping edge of 27% implied! Either I got lucky, or I've hit the motherlode Will try the same spreadsheet for the second time tonight, so this should tell the tale.
Only problem is, you really need to be awake to over-see the betting, which means a serious lack of sleep for those in Australia and NZ betting on UK races.
Only recently I started looking at the UK races and only recently signed up with Bet Angel for the first time. First idea I tried with an automated Excel spreadsheet on the UK races was just raking in the money non-stop all night, with a whopping edge of 27% implied! Either I got lucky, or I've hit the motherlode Will try the same spreadsheet for the second time tonight, so this should tell the tale.
Only problem is, you really need to be awake to over-see the betting, which means a serious lack of sleep for those in Australia and NZ betting on UK races.
Currently taking a small break, as disruption through the UK winter months to the racing program made it even harder to justify staying up all night. Like the previous responses to this post, the lack of liquidity in any Aussie races other than the big festivals, makes it very hard to trade. Haven't fully worked out why the liquidity here is so thin - horse racing here is huge, occupies several pages of coverage in the daily newspapers, and with a TAB on every high street and many bars, there's obviously serious money wagered on a daily basis - it just fails to go through the exchanges in the same way as in the UK. Would love this to change - trading the UK races here means being glued to the screen from 11pm till 3am in the UK winter, and later for the flat season. Plays serious havoc with my sleep, and you have to be very focussed!
Cheers,
The Pom
Cheers,
The Pom
I don't trade full time but have managed reasonable success trading metropolitan meetings both midweek and weekends.
Yes the liquidity can be low but it's all I know so I'm learning to work with it.
When I first started trading I tried to trade the UK markets with very bad results. Have not been back since. Maybe with Cheltenham on this week I should give it another go.
Cheers,
Simon
Yes the liquidity can be low but it's all I know so I'm learning to work with it.
When I first started trading I tried to trade the UK markets with very bad results. Have not been back since. Maybe with Cheltenham on this week I should give it another go.
Cheers,
Simon
Last edited by blueport on Sun Mar 14, 2010 2:19 am, edited 1 time in total.
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Hi there,I'm from perth and currently trade partime, I only trade the UK horse raceces.
My fulltime job fits in with trading so I thought why not do both?
I only swing trade, because its too hard to scalp from here because of the slight delay you get being so far away from the Uk/ Malta servers.
My fulltime job fits in with trading so I thought why not do both?
I only swing trade, because its too hard to scalp from here because of the slight delay you get being so far away from the Uk/ Malta servers.
Hi Rabs2000 (and other interested traders)
I'm based in Melbourne and have been trading for about 3 years. Another Melb based trader and I meet every couple of months for a bit of a chat about trading and it has been very useful.
If there are others interested please indicate and we might be able to hold a bit of a get together to dissect the mysteries of trading.
Galilee66
I'm based in Melbourne and have been trading for about 3 years. Another Melb based trader and I meet every couple of months for a bit of a chat about trading and it has been very useful.
If there are others interested please indicate and we might be able to hold a bit of a get together to dissect the mysteries of trading.
Galilee66
Good to see a few guys posting and thanks for the Aussie section, BA. I'd love an update on Zenyatta's progress, especially if he's willing to share.
I'm based in Tassie but tend to hit Melbourne about once a year so be good to catch up with the Melbourne traders if they get anything going.
In the meantime, I work in Hobart, where Betfair's Australian HQ is, so if we keep having problems with the site going down, etc, I can always wander down in my lunch hour and post a couple of turds through their letterbox if you think it might help.
I'm based in Tassie but tend to hit Melbourne about once a year so be good to catch up with the Melbourne traders if they get anything going.
In the meantime, I work in Hobart, where Betfair's Australian HQ is, so if we keep having problems with the site going down, etc, I can always wander down in my lunch hour and post a couple of turds through their letterbox if you think it might help.
Grigsy
No luck here mate. I lost my head at Cheltenham and blew my bank on 'Dunguib' trying to score a big betting coup. If I'd stuck to my usual system though I'd have been fine. The moral of the story is that the big races probably shouldn't be treated any differently and loss of discipline means loss of money!
No luck here mate. I lost my head at Cheltenham and blew my bank on 'Dunguib' trying to score a big betting coup. If I'd stuck to my usual system though I'd have been fine. The moral of the story is that the big races probably shouldn't be treated any differently and loss of discipline means loss of money!
I've no idea what you just said. But I do have a few mates of the more nerdy persuasion so I will ask them verbatim what you have written. I'll let you know what they say. Feel free to elaborate if you have any precise requirements. I'm sure I will be able to find someone who has a clue what you're talking about!Bet Angel wrote:I'm interested in getting an AUS based VPS, must be Win 2008 server. Any local recommendations? Any help would be much appreciated.
Last edited by grigsy on Thu Mar 18, 2010 11:34 am, edited 1 time in total.
Sorry to hear that, but it doesn't sound all bad news. I mean, loss-of-head-stupidity is what dogs everyone at the start, and it is totally something that can be worked on. You learn one hell of a lot more from your mistakes than you do your triumphs.Zenyatta wrote:Grigsy
No luck here mate. I lost my head at Cheltenham and blew my bank on 'Dunguib' trying to score a big betting coup. If I'd stuck to my usual system though I'd have been fine. The moral of the story is that the big races probably shouldn't be treated any differently and loss of discipline means loss of money!
So, if your strategy appears to have merit when applied in a disciplined manner, it might be worth re-investigating, even if you can only build your bank back up with minimal stakes, so the emotion is removed.
Just a thought. By the way, I totally nearly went the same way on Dunguib, due mainly I think to tiredness at midnight on a weekday, but I managed to get into a $5 greened up profit which, while nowhere nearly worth the hour long slog, was at least positive.
Good luck if you decide to persevere with your system. Will be interested to hear how you go.