I never said trade EVERY race. Also, its obvious you need to watch how much money is being matched on either side of the back/lay price. That's why just using BA alone its very difficult to FULLY automate unless you integrate to Excel or have a custom bot built etc.ruthlessimon wrote: ↑Wed May 30, 2018 11:52 pmLet's take two perfectly reflective markets; with trader Bob walking us through how he's trading & reading the correlations:arbitrage16 wrote: ↑Wed May 30, 2018 8:05 pmI'm curious about your emphasis on easy...in which case, what does a perfectly tight book make it?
1. "There goes the 2nd, definitely drifting, time to back the fav - oh what a lovely move, I'm a trading god, this is piss easy!! *posts it on graph of the day*
2. (next market) "There goes the 2nd definitely drifting, time to back the fav. Oh it just pulled back; let's hold it. Thank god I held it. Hmm maybe I shouldn't have held it.. christ that's a deep pullback - time to cut my loss & lay the fav, fav definitely weak now. Shit looks like the 2nd is really weak, time to back the fav again & lay the 2nd - the 2nd is clearly very weak. Holy.. I can't get out down here, I'm really doing my arse here, shit I've gotta get out!!! I swear I'll never do this again (spanks self, puts up a post-it note on the screen)!"
So.. Just because it's correlated doesn't necessarily make it easy!
If you enter on your Scenario 2 and the money starts being taken on the other side then you get out with a scratch or 1/2 tick loss and repeat the cycle again.
I did say to use practice mode until you know how the market reacts and what moves the prices.
Its not hard and unless you are confident then you get out before the on-course bookie money starts coming in.
This system has been used since Betfair was invented and still works today.
PS. You use WOM but need to change the weightings from the standard settings as they are no use to anyone with spoofers in the market. They should be 100, 50, 25 and not 34, 33, 33 etc.