Everyone has been really helpful so far in my trading journey i would be interesed in some thoughts on my trading today 30/01/2024.
I was trading order flow on the various race meets, Chepstow, Newcastle and LImerick during the day.
I almost consistently made a loss on every race. Some of this is because i am behind the curve but also perhaps inexperiance with the low liquidity markets. For example i took a back position on Flemmens interest in the 3.10pm at Limerick 5 mins before the off at 7.0. I placed an exit lay at 5.7, the price jumped from 6.8 to 6 within a second taking most of my lay which i then hedged at the higher price for my only profit of the day. It then continued to jump back to 7.0 then to 8.0 back to 7.0 up to 9.0 and the race started with it at 10.5 all of these jumps occuring with rapid movements. When i placed my position the matched total was around 40k.
I found that these rapid price movements happened throughout the day. I would take a position it would go against me considerably, i would exit for a loss and in many cases the price would reverse rapidly back to what would have been profitabiity.
So im wondering is this common on low liquidity markets and therefore do i need to accept bigger swings and volatility if i trade them?
By contrast i consistently made small profits on almost all races i traded on Saturday.
As always greatly appreciate your thoughts.
trading order flow on low liquidity markets
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