Trading Horse racing : The fat fingers thread

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Derek27
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Thu Aug 16, 2018 7:41 pm

It's funny how a fat-finger trade is often followed by another one.

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PDC
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Thu Aug 16, 2018 7:48 pm

That chart is very misleading. The time between the initial fat finger to the end of the chart was only a matter of seconds, maybe about 10, though the chart makes it look like the first fat finger was way before the start of the race, not just a matter of seconds, so there was a bit of a scramble of people/bots sorting out positions I would think causing what looked like multiple fat fingers.

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eightbo
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Thu Aug 16, 2018 7:50 pm

The x-axis is activity not time

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PDC
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Thu Aug 16, 2018 7:54 pm

eightbo wrote:
Thu Aug 16, 2018 7:50 pm
The x-axis is activity not time
That is incorrect the x axis is time but it isn't to a set scale, y axis is price and z axis is volume

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eightbo
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Thu Aug 16, 2018 8:12 pm

if a market has no further bets matched, the chart would remain the same if it was inactive for 2.4 seconds or 2.4 years. Therefore we can say the x-axis is not time. Time is a measurable unit, I don't think it can be without a 'scale', I welcome you to point me to the source of your info though if I'm wrong

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PDC
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Thu Aug 16, 2018 8:27 pm

eightbo wrote:
Thu Aug 16, 2018 8:12 pm
if a market has no further bets matched, the chart would remain the same if it was inactive for 2.4 seconds or 2.4 years. Therefore we can say the x-axis is not time. Time is a measurable unit, I don't think it can be without a 'scale', I welcome you to point me to the source of your info though if I'm wrong
Why can we say the x axis isn't time because of your point about 2.4 seconds or 2.4 years?

As I said, the time axis (x axis) isn't to a set scale, that doesn't mean though it doesn't represent time. As for it being activity, you haven't even defined what activity is, but save yourself the time (excuse the pun) as my source of info is Betfair themselves and their charts that clearly state that they represent 'Price/Volume over time'.

Case closed and we didn't even have to call in Sherlock :lol:
Price volume over time.png
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eightbo
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Thu Aug 16, 2018 9:33 pm

activity means a matched bet placed on the selection in question, i'm not going to argue over something trivial so i'll have to disagree with you and leave it at that, from my experience betfair employees vary in their usefulness and correctness. What's important is that one understands how the chart is produced (updated when there's new activity). To say it looks misleading implies you don't understand what's going on.

that's just my take, nothing personal

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PDC
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Thu Aug 16, 2018 10:16 pm

Nothing personal taken.

What you define as activity is actually what is being plotted against the z axis, volume. Each bar represents the amount of activity, activity being the amount of money matched.

It is clearly stated on every Betfair chart and within Bet Angel itself that these charts are plotted as Price/Volume over time. That is an undisputed fact no matter if you wish it to be different.

I am not sure what your point is about the Betfair employees as that has no relevance.

Your statement, 'To say it looks misleading implies you don't understand what's going on' is completely incorrect as well. To be able to say (correctly) something is misleading you have to know what is going on or else you would not know it was misleading in the first place.

https://www.youtube.com/watch?v=k_z1DBTK0Vw

:o

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eightbo
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Fri Aug 17, 2018 7:02 pm

Adorable! Here, I'll explain for you:
To say the chart is 'Price/Volume over time' isn't incorrect, it just lacks accuracy

Time is an attribute of the activity (volume/price), one which is not describable from the chart as the x-axis isn't set to a consistent scale and is therefore a misrepresentation of data.

You can never describe the points on the chart properly, the difference between any two points on the red line has the potential to be any length of time -- could be 2.4 seconds or 2.4 years. If you understand this concept of potential, the chart cannot be misleading.

If for some reason you feel the continued need to tell me about how right you are, please do so in my inbox

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CallumPerry
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Fri Aug 17, 2018 7:26 pm

I thought I'd have a break from children and petty squabbling being the summer holiday but obviously not :lol:

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