CANDLESTICKS / Matchsticks / Last traded price chart

[Euler]

I'm surprised that they are popular because they are really basic and don't seem to contain much information. The advanced charts are far more powerful. I guess because the matchsticks have been popularised everybody feels they are missing out by not having them.

[to75ne]

can someone explain what these sticks mean?

to me it seems a price is at its bottom trading at 5.3/5.4

770 and 212 available to be matched at those respective prices.

1.3k matched at its bottom of 5.3 and nothing as yet been matched lower than that 5.3

i assume the green colour on the amount matched column is the amounts that as been matched very recently and the volume, and the yellow colour is the amounts matched and the volume over some longer time frame.

so what do the sticks mean/show ? and what are they saying at the moment shown?

do they say price is same, rising, falling, volume increasing etc, what are they indicating and/or predicting.

thanks

[Euler]

From what I can make out, all they are doing is showing there the price traded. You can set up LTP on Bet Angel on the charts.

[Euler]

No - not the same - the matchsticks show LTP at time whereas the BA charts reflect price on offer which is meaningless when markets are moving around without any bets being placed.

That's incorrect. The charts on Bet Angel are custom configurable to show whatever you want. All mine are set up on LTP.

[smoothoperator]

I'm surprised that they are popular because they are really basic and don't seem to contain much information. The advanced charts are far more powerful. I guess because the matchsticks have been popularised everybody feels they are missing out by not having them.

Peter it seems like you are clearly resistant to this, no doubt because YOU don't feel any need for them, you have traded for many years and if what you are doing works, why change it? But this is not my point, my point is that MYSELF and MANY others do use this on other programs, and it DOES help make a lot more money for those who DO use these matchsticks. I could spend hours explaining to you and the other poster here what exactly they do which is unique, and how it impacts on every single trade, but I have to say I feel the resistance to the idea makes me think it is looking a bit futile. Remember BA is about trading, not trading your way. It has many features which are not used by probably every single trader. But that doesn't mean the features are not needed, they are what makes BA so powerful and appealing to the masses. I think this one thing, as an optional feature, would be the biggest jump you could make to being even MORE appealing to even more masses.

Much of it comes down to how you have your screen set up, and remember you probably have a lot more screens to stick chart windows than most. Also, I assume you open one of BA's lovely charts on the one runner you are trading or looking at trading. With GR, you can see a very narrow but RECENT chart of the most recent tick movements for ALL ladders. I use this (as do others) to support a decision about trading the favourite or second favourite. I have videos I could share showing this in action, where there were 3 horses coming in so i was laying the favourite. in BA i would have lost, but in Gr I won, BECAUSE i saw instantly when all 3 other runners hit a bottom of range and turned one tick upwards, counter to their previous trend. In this case I immediately exited my lay of the favourite, and as all 3 others turned up another tick, I reversed and backed the favourite. A nice ten tick trade because I was in BEFORE the favourite reacted to those three horses reversing.

This is simply not possible in BA, so making it an option for the many people who I know would use it (and the even more who I dont know, but who would also use it) seems a very simple and wise decision for a software program designed to be the best, and which is the best. Considering how many bells and whistles BA has (more than I could ever even understand let alone use!), it seems crazy not to have this. It isn't a bell or whistle, its a fundamental indicator for a certain type of trading. And if trading on one screen, a laptop for example, Gr is the only program which makes this type of trading even possible. I hate to say that, as I hate the other programs, and have been a BA lover for 7 or 8 years now! But as this is my bread and butter earning, I can't let emotional attachment to BA override the functional benefit of those matchsticks in GR for making my trades more profitable and my losses much reduced.

PLEASE set aside your lack of vision for how this could be useful to YOU, and believe me and others that it would be one of the biggest additions to BA for a very long time!

[Euler]

We've added many features at the request of users so this will be another one.

I just think you could make a ton load more money if you used advanced charts. That was my point. Matchsticks just appear to be a non linear historic plot of LTP? That's one element

We've checked out the other versions and it looks really basic so it should be possible to implement it. Just think you are missing a ton of other information if that's all you use to trade against.

[smoothoperator]

Thanks and yes I take your point, I may well be missing out on other stuff, but that's because I am using other software!!!

If BA had it, I would use it in combination with the Market Overview which I find is a great indicator.

Just out of interest, do you have any online videos showing some of the charts you use or the information you are talking about me missing out on? I don't claim to be a trader in the same league as you! But I can hold my own with those matchsticks, just for indicators of a trend about to happen or about to stop or reverse. I am all ears if you want to share more

[Euler]

One day people will figure out we just didn't junk Bet Angel together, it was constructed from the bottom up. It's a huge edge for me in the market.

Over time it's become a mixture of my journey through the markets and user requests. But the most curious thing about it, is that I've always earned more from using it than selling it. I thought by now that may have changed and I could stop trading perhaps, but I don't see any sign of that ever happening. Never been able to fully understand that.

[icarus121]

Stop it! Next thing Peter will be charging comm's when using the software.
With respect to all it seems horses for courses to be fair.The technical charts are the dogs ....found it best to play about with them for a while ,and sit watching/recording for days.Happy to share what chart settings that i use ,if its a starting point for anybody.Guess the other software works as well ....all good.

[smoothoperator]

One day people will figure out we just didn't junk Bet Angel together, it was constructed from the bottom up. It's a huge edge for me in the market.

Over time it's become a mixture of my journey through the markets and user requests. But the most curious thing about it, is that I've always earned more from using it than selling it. I thought by now that may have changed and I could stop trading perhaps, but I don't see any sign of that ever happening. Never been able to fully understand that.

HA HA HA, nice post Peter!

So either your software is rubbish, or you are just too darn good at trading.

Nobody, least of all me, ever thought it was "junked together". It's superb. I THINK what you are saying here is along the lines of "the reason BA doesn't have what other programs have is because you don't need it to earn good money". If that is what you're implying, the only answer I can give you is.....

Well if I had your skills I would gladly side with you and dump the matchsticks! Until I can either afford one of your courses or install a hidden camera in your office, I will have to stick to the Bryant and May.

[Euler]

I've no problem with putting it in. Just want you to give some thought to all the other stuff in there if you want to up your game. I'll have a good look at Matchsticks when we put them in.

[Euler]

One thing I will say is it's surprising who much attention this thread has got.

[icarus121]

One thing I will say is it's surprising who much attention this thread has got.

Yes ...that's because everyone thinks its about candlesticks

[smoothoperator]

Thanks very much Peter. Yes the interest has surprised even me! Especially as I have not told any other traders I know about it yet! I can promise you this is 100% genuine, it looks like the average userbase has supported it well enough anyway, but when I do get 5 minutes I will pop and see my mate who will spread the word, if necessary?

Up my game - Oh how I would love to do that!

[foxwood]

Euler wrote:That's incorrect. The charts on Bet Angel are custom configurable to show whatever you want. All mine are set up on LTP.

Euler wrote:Matchsticks just appear to be a non linear historic plot of LTP?

Sorry - my bad - didn't realize BA could plot using LTP

Will have a closer look at advanced chart settings since sounds like it can be replicated easily enough - thanks