Wednesday, 14 May 2008

Things can only get better

Daily Result: £2.35

Well what a shocking start to this blog, a lot of my early trades today I had people putting fake/ghost money into my market and forcing the market the opposite way (seems to happen a lot more on the higher odds horses because there is less liquidity so they know they can get away with it), basically with a few minutes before the off I may of placed a Lay bet of 30 for £2 and get it matched and then suddenly out of nowhere £130 will appear on the back side (where as before it was going up in £5's etc) causing people to panic and close out there position at whatever price they can and watch it go on a big drift and if and when the price comes back down as soon as it gets close to the money again or some of it starts being matched they take all the money out of the market completely (checking the market before hand and after shows that £100 was not matched at that price when it left the market, I never noticed this before until I read about it but see it quite regular now) thankfully on all but 1 instance I managed to trade more on those races but I would of been up a lot more.
Not only that but around 18:45-19:00 I noticed on BetAngel my 2 lays that had not been matched were appearing and then disappearing in the market and before I realised what was happening Betfair was down, it did eventually come up 2-3 Min's before the race starts but people were obviously panicking and closing out there positions or placing a normal bet at whatever odds they could in case the site went down again so my lay price was taken as was as around 5 ticks below it, luckily I was able to trade out and scratch the trade I then decided that I would just watch the next race to see if the same thing happened and sure enough it did so I decided to give up for the day.
all in all I ended £2.35 up on the day so as long as it pays for BetAngel I don't mind, well TBH as I'm only just starting I don't mind having a few losing days.

No comments: