trading at the top/bottom

[stewarty]

help required!! hi all. i have been trying to learn this horse race trading stuff for about six months now and would be greatful for some advice. i have noticed alot of the time that around the ten minutes before the off time, and i look at the betfair graph, alot of favourites are already trading the top of their trading range, or at the bottom of their range. what is the best way to look at this senario? if it is at the top it has obviously drifed, so how do you determine if it is going to continue to drift or reverse? when i lay, it seems to reverse, and if i back hoping for a reversal, you guessed it, it continues to drift, going through my position. the same applies at the bottom, how does one determine if it will continue to be backed or if it will reverse? like at the top, when i back it reverses and when i lay when WOM looks like it is shifting, WOM shifts to the other side again and it continues to be backed. its very frustrating as the opposite always seems to happen. any advice much appreciated!!!

thanks stewarty

[darkpunter]

Hi Stewarty,

I'm new to this myself so can't give an expert reply, but from experience so far you need to wait until the real volume of money starts coming in (after the finish of the previous race) to see what could happen. That can be frustrating, as you can miss some big movements, but try and take that on the chin if it happens - there will always be other opportunities.

Also, look for previous levels of support or resistance on the charts, these can give a good indication of whether a top/bottom has actually been reached. Check out Jim Makos's website for some advice on this.

Hope that helps a bit.

DP