Market Price Matched Display (Amount of matched back bets and matched lay bets)

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Stubbo
Posts: 56
Joined: Fri Dec 02, 2016 8:44 am

Would it be achievable to have configurable columns on the ladder that could show whether matched money is the result of backers meeting the lay side, or layers meeting the back side (market bids display).

This would be more useful than just showing waiting orders, as it would show which side (backers or layers) is making the most market orders and taking the current price.

E.g. looking at the orders queued...the Lay side might show 1000 waiting at 7, and the back side might show might show 200 waiting at 7.2 (assuming reverse order). The simplistic assessment would be that more money wants to lay than back so price will drift.

However we all know that is totally unreliable, as if no one moves their position no trades will match...so a column that shows from a point in time, how much has been matched on the layside at the price (e.g. how much of the 200 has moved to take a back price of 7), and another that shows how much of the money has moved to take the lay price of 7.2).

If more moves to the backside (190 of the 200 gets matched at 7) but only 20 of the 1000 moves to take the lay price at 7.2, irrespective the size of waiting orders it shows there is more backing action and thus the price would likely come in as the desire to back is stronger than the desire to lay (regardless the WoM).

If finding this out is either:

1. Not possible with the information that can be calculated or is made available by Betfair, or
2. Can b seen in some other way

Please let me know. If the above doesn't make sense please ask for a better explanation.

Stubbo
Stubbo
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Joined: Fri Dec 02, 2016 8:44 am

...and to be clear I mean matched across the market by volume, not just my matched back or lay bets.
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Dallas
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The effects of XM'ing would need to be considered, all £1000 at 7.0 might be taken but none by backing activity on that selection but from being crossed matched from other selection
Stubbo
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Agree Dallas, and am sure those with a deeper understanding of CrossMatching and how it works might be able to suggest how this kind of issue could be resolved, but I believe the principle would remain (even if it was understood that CrossMatching wasn't factored in).

Cross Matching aside...is this something that would be technically achievable with the API made available from Betfair (or could be achieved in some way now through the use of a spreadsheet)?
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Dallas
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In the ladder setting you have the option to show 'last traded amount' which will flash the amount up in a white box up at the odds the bet was matched at, the problem is timing used - have it set on every refresh if your refreshing at a high rate its way to fast to see the figures shown let alone mentally keep track of it, slow it down and your then not getting and accurate figure (just something your eyes could cope with).
Stubbo
Posts: 56
Joined: Fri Dec 02, 2016 8:44 am

Unfortunately LTP is just that...the price. It doesn't show/track whether the way the price was traded at was a Lay bet at Market meeting the Back Price, or the Back bet at Market meeting the Lay Price (which is the key....to see which side of the book are moving most strongly to meet the other side and make the trade).
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Dallas
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Location: Working From Home

Stubbo wrote:
Fri Feb 24, 2017 12:51 pm
Unfortunately LTP is just that...the price. It doesn't show/track whether the way the price was traded at was a Lay bet at Market meeting the Back Price, or the Back bet at Market meeting the Lay Price (which is the key....to see which side of the book are moving most strongly to meet the other side and make the trade).
Thats a £49 lay bet taking a piece of the waiting back bet money - i thought thats what you were asking for?
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Stubbo
Posts: 56
Joined: Fri Dec 02, 2016 8:44 am

OK i see what you mean Dallas....it shows up on the side of the book the LTP was taken. What would be great would be if there was some way that value could tally over the course of a defined period (which would obviously need another display column configurable somewhere on each side) so I could know in the last 10/30/60/120 seconds that X amount had been matched on the Back side at 7, and Y amount had been matched on the Lay Side at 7.2.

E.g.

LAY - MATCH - Price - MATCH - BACK
000----000-----------7.6-------007-----011
000----000-----------7.4-------015-----027
000----000-----------7.2-------022-----201
892----329-----------7.0-------000-----000
256----292-----------6.8-------000-----000
067----126-----------6.6-------000-----000

So I could see that despite the Lay book looking heaviest (WoM 1215 Lay vs 239 Back), it's actually Back bets (at £329) in the last 60 seconds that have been coming down to meet the current Lay price, whereas despite the apparent upward pressure, only £22 has been matched at the current market back price, so market sentiment and motivation to back is currently greatest even though the way the book is presently positioned, seemingly supply looks greatest on the lay side with a price rise most likely.

Anyhow, I'm sure you understand what I'm saying...but like you say the cross matching thing might make it awkward (and as with everything, it's whether the many would benefit). I think this is pretty common in Financial products of the same nature that show Depth of Market though so it clearly holds value to many in that environment.
jpspbridge
Posts: 1
Joined: Tue Jan 01, 2013 1:52 pm

Hi Stubbo,....Ive recently joined the forum and enjoyed reading these posts about last traded price ladder column/indicator. Did you have any success with an indicator? cheers J
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