Trying to trade on ladders

[rubino]

Hello Any Experienced trader, I am still new to this and waiting for a private training session as I live in Guernsey. In the meantime I have watched all the training videos and cant see any other way (long term) of making money other than pure trading on the favourite (just for liquiditys sake).
I trade at £100 a tick but am having a job to know whether to get the enhanced ladder up and concentrate on the 1 horse (which I feel is better).If I am trading on the ladder should I not always get the lay bet matched before I place the back bet or should I use the global settings, I'm just not sure the easiest way to do this. I appreciate people will say wait for your training session, but I want to get cracking.
Please advise thanks RUBINO

[JollyGreen]

I trade at £100 a tick but am having a job to know whether to get the enhanced ladder up and concentrate on the 1 horse (which I feel is better).

Are you sure you mean £100 per tick? That's a lot of money for someone who is starting out I would hope you mean stakes of £100 on the favourite and that it is a short price.

On the ladder it really is a question of which way the price is moving. If the price is shortening then you need to back first and move your mouse to the current close button on the profit calculator on the enhanced ladder screen. If the price is drifting then you should lay first and then move to the calculator.

I don't use global settings on the ladder unless I am scalping a market, in which case I would set offset to 1 tick and use Fill or Kill at approx 20 seconds (this varies according to market type...not enough time to go into great detail on here). If it is a short priced favourite than I would be looking for as many ticks I can grab and would manage my position manually.

To promote discipline and to also give some new traders a fall back, you can right click on the ladder and set a stop at 2 ticks for example. Be warned though, in a volatile market it can drop back and hit your stop then surge forward in the expected direction...you're left with a loss rather than the profit

Hope this helps?

JG

[Cran]

Are you sure you mean £100 per tick?

That's only £20,000 stakes, you could do that with just a small £50k bank no problem