When scalping we don't care much for direction, so this would be a swing trading strategy? You would want to take a wider plus and negative range into account. One tick up and many down won't work.SBW077 wrote:Bet Angel wrote:For example if 7 minutes before the off the fav is at 3.2 and at 4 minutes pre-of the fav is at 2.90 then back first... conversely if 7 minutes pre-off the fav is at 1.70 then at 4 minutes pre-off it's at 1.81 lay first. Might be less likely to incur many big losses?
Does scalping really work any more?
Hi all, gotta say that even this random trading puts me to shame. I'm still getting beaten by the Horse Racing markets, luckily for very small stakes still.
What cheers me up is thought that at least some of the money ends up with Dave & Peter, who I met at a recent training course and are thoroughly decent chaps. Beats letting the banks or bookies get it I guess
I've now started looking at 'formal' Technical Analysis of the BA graphs as a possibility - judging movements just on WOM or even on MA's seems like a good way of giving the boys even more cash. And I don't want to spoil em!
I'm gonna crack this trading malarky, just wait and see!
Cheers...
What cheers me up is thought that at least some of the money ends up with Dave & Peter, who I met at a recent training course and are thoroughly decent chaps. Beats letting the banks or bookies get it I guess
I've now started looking at 'formal' Technical Analysis of the BA graphs as a possibility - judging movements just on WOM or even on MA's seems like a good way of giving the boys even more cash. And I don't want to spoil em!
I'm gonna crack this trading malarky, just wait and see!
Cheers...
We used random scalping on the evening racing today. We did it using just £2 stakes so even the less confident should be able to replicate the results.
Net we made £3.93 on our maximum stake of £2. We managed to turnover £2685.86 using just these £2 stakes, though on occasion we had to use multiples of these stakes. Curiously we really made £4.23 so a net of £3.93 means that Betfair's "rounding" process managed to charge us 7% comission.
Net we made £3.93 on our maximum stake of £2. We managed to turnover £2685.86 using just these £2 stakes, though on occasion we had to use multiples of these stakes. Curiously we really made £4.23 so a net of £3.93 means that Betfair's "rounding" process managed to charge us 7% comission.
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Hey, at least two pence of that £3.93 is mine! (This being my net loss on the racing last night). Spend it wisely, no drinking or gambling please. 
In the meantime, can you just clarify your random methods a bit. I'm guessing that what you're doing is the equivalent of entering the market at random with a one-tick offset and a one-tick stop loss, is that about right?
Sorry for being dim. As you can see, my problem with trading isn't a lack of confidence, it's a lack of ability!
And I'm not going to get started on Betfair's rounding - I have to work with numbers for a living, and this kind of lazy coding makes baby Jesus cry. How can they charge 7% commission in a 5% market, it's not a difficult calculation, even at low values. Harumph.
Still, I've got the perfect solution to both the 20% charge and the confusing commission - just stop winning. I'm willing to share my proven and tested methods for just £9.99 per month.
Cheers all,
Russ...
In the meantime, can you just clarify your random methods a bit. I'm guessing that what you're doing is the equivalent of entering the market at random with a one-tick offset and a one-tick stop loss, is that about right?
Sorry for being dim. As you can see, my problem with trading isn't a lack of confidence, it's a lack of ability!
And I'm not going to get started on Betfair's rounding - I have to work with numbers for a living, and this kind of lazy coding makes baby Jesus cry. How can they charge 7% commission in a 5% market, it's not a difficult calculation, even at low values. Harumph.
Still, I've got the perfect solution to both the 20% charge and the confusing commission - just stop winning. I'm willing to share my proven and tested methods for just £9.99 per month.
Cheers all,
Russ...