It would be great if it was possible to queue up a trade on the ladder that only goes into the market if a price is reached beyond a certain price point, where that price point is WORSE than the current price (i.e. a back price shorter than the current back price, or a lay price greater than the current lay price).
E.g. price is currently at 2.0, having trended down from 3.0....I'd like to queue up a back order at 1.97 that only enters the market if 1.97 becomes the Market price. Currently if I try and do this, I immediately get matched at 2.0 (as it assumes I want the bigger price).
This would mean you could pick resistance points and open trades if the point of resistance gets broken, whereas as sometimes things move to fast to get your order into the market on the way down.
Essentially this would be the opposite of a stop loss.
Place a Limit Order to open trade at WORSE than the current market price on the ladder for the trade type
This can be done if using automation
http://www.betangel.com/forum/viewtopic ... 52&t=11414
http://www.betangel.com/forum/viewtopic ... 52&t=11414
Trouble with this is it requires you to define the fixed price point up front.
So with the scenario I identified for use, even if you could use conditions and signals to correctly identify the resistance point, and could identify that the current market price was at that point in the market, you can't then set a rule that say (as an example) if the price moves 3 ticks lower than the current position open a back bet.
You could use historical relative odds to base a tick position on the current market price and a movement, but this is time dependent as opposed to outright move from an identified point in time in a given direction.
Such a rule might be:
1. Spot that the price has been within a set tick range for an extended period of time (given you can't set condtions based on matched volume at a price point whether specified or determined by a rule).
2. Identify that price as the current market price
3. If the market price now shifts by a set amount in a given direction, then place the requisite open bet in the direction of movement when current market price = market price now + or - X ticks.
4. Close for Profit at X ticks at Open Price plus X ticks or more
5. Close for Loss/Stop Loss if the Price reverses past "Current Price Now" by -Y Ticks".
So with the scenario I identified for use, even if you could use conditions and signals to correctly identify the resistance point, and could identify that the current market price was at that point in the market, you can't then set a rule that say (as an example) if the price moves 3 ticks lower than the current position open a back bet.
You could use historical relative odds to base a tick position on the current market price and a movement, but this is time dependent as opposed to outright move from an identified point in time in a given direction.
Such a rule might be:
1. Spot that the price has been within a set tick range for an extended period of time (given you can't set condtions based on matched volume at a price point whether specified or determined by a rule).
2. Identify that price as the current market price
3. If the market price now shifts by a set amount in a given direction, then place the requisite open bet in the direction of movement when current market price = market price now + or - X ticks.
4. Close for Profit at X ticks at Open Price plus X ticks or more
5. Close for Loss/Stop Loss if the Price reverses past "Current Price Now" by -Y Ticks".