I realise that but the principle is the same for layers and traders. If I was a layer and it seemed prudent to pause for a better lay price, it would be the same if I was opening a trade with a lay bet.spreadbetting wrote: ↑Tue Jul 10, 2018 6:31 pmI don't think JG was talking about entering a trade, Derek, more the fact that there's little point taking a price, or being generous, when the market is coming towards you.Derek27 wrote: ↑Tue Jul 10, 2018 5:09 pmVery interesting thread.JollyGreen wrote: ↑Tue Jul 10, 2018 2:58 pmIf I see money still coming then why offer a bigger price? Why not wait for the price to drop and then offer my money? Yes, it could reverse but that means I have either not read the market correctly or someone has placed a massive lay bet before me and the price has shot out. As a savvy player I am not just going to throw my money into the market, there will be plenty more chances.
It took me quite a while to realise that if you're too keen to get your money on for fear of missing out, sure you get your money on every time, but you get a worse deal every time. If you're prepared to wait and look for a few more ticks, it's either a better deal or no deal.
It's easy to imagine a trader who always get's his money on and breaks even. Being more selective and going for the better price or nothing could make enough difference to turn his trading into profit.
When you open a trade it's always going to be a judgement call whether to take, or offer, odds and so much of that depends on what you expect to make from the move. If you think the market is going to move 8 ticks there's little point you offering odds and risking losing the trade for the sake of an extra tick especially when you've already decided the momentum is in the opposite direction. If you're just playing the noise to take a tick or two it's a different matter
Of course it makes sense to 'take' if you feel the price will bounce away - I do that frequently with US ans AUS racing. But there have been many times lately where I've offered my money a good few ticks behind the spoofer and waited the the spoofer to withdraw, whereas when I was less experienced, in the same situation my money would be straight in front of the spoofer.