I like the advice about not modifying your behaviour i.e. not changing your approach simply applying the strategy and accepting the results whether positive or negative. I think that this is a key concept and one of the most useful pieces of advice in the public domain today.
Excellent stuff Peter. Was getting close to packing in pre race trading and just focusing on football but this video has convinced me to give it another go 👍🏽
Hi Peter. As ever, I've picked up a few pointers from one of your videos - thanks for taking the time to make them. Whilst watching this latest video, I was drawn to the background 'noise'. If I had to guess, I'd say that you live somewhere close to one of our busy Motorways? I do - and that background 'hiss/roar' can sometimes be a pain in the arris! All the best. ;-)
Thanks for your comment. I do, but it's probably the main road you can hear at the motorway is still a mile or so away. But the sound reflects a bit so depending on where I stand you can hear it a bit more. The iPhone seems to be great at picking it up! I wanted somewhere with a bit of land, so that's the pay off I guess!
Hi Peter. Regarding cross matching and the “ghost/phantom” order showing that aren’t really there, in a binary market (tennis, boxing…etc). How does the Betangel software determine which one is the real one (and hide the phantom order) between lay on the fav or the equivalent back on the dog? I would appreciate a response, been trying the software on and off for a few weeks now. Amazing!
Thanks for your comment. Bet Angel takes into account cross-matching as defined by Betfair. We posted the definition on this thread - forum.betangel.com/viewtopic.php?t=11066 You can switch it on and off on Bet Angel. If you go to settings and display, you can toggle cross-matching on and off there.
Hi Peter! I am really inspired of your videos there is an amazingly huge value in each of them. I've been watching your videos and learning to trade from them in the past few years but I just started to use the real account instead of the practice one and I noticed the difficulty of the psychology part straight away, even with a 10 pound stake because it is my own money at risk. Hopefully I will gradually raise my stakes and make an income from it one day! Regarding the price movements, lets say there are only 2 runners and everybody is backing the favourite so it is coming in and nobody place any bets on the 2nd favourite. In this case how can the 2nd favourite drift if no one is laying it? But it has to drift as people back the favourite. Or Betfair just moves the money around to maintain the 100%? In that case if there are 3 runners and bets are placed only on the favourite who decides which of the other 2 runners will drift if no one is laying them? Thank you for your answer! Have a great day! Dan
Hi Dan, Y, you shouldn't underestimate the psychology of trading. It can really force your hand. I'd say this was one of the great things that trading taught me, the ability to overcome this and become a good risk-taker. The book will become over broke if the price on one runner doesn't match its reciprocal price. Have a read about how that effects the markets here: - www.betfairtradingblog.com/betfair-cross-matching/
Probably not if I'm totally honest. I have explained why on other videos. But my time is stretched and giving detail in specific videos I've always felt is much more helpful. I've traded live many times but I ended up feeling like a performing seal, which isn't where I really want to be.
Best to start at basics. We are re-recording some updated content for the Academy which will be available soon. But there is some good stuff on there already -www.betangelacademy.comm
Another great video, thanks. I'm a little confused about which which way the ladder moves. Sometimes on the lay side I see £1000 appear but am confused, does that money make the price drift or shorter? Thanks
*Question Peter* - Do you still trade in the financial markets, and if so, how much time do you devote to it? I've been trading full time for years, and pre-race is a 'sometime' hobby that I picked up a few years ago. I'm far more successful in trading financial market than I am with pre-race. 😂🤣
I do spend a lot of time on financials, but I'm more an investor rather than trader. That said I am taking some ideas back into financials and getting a bit more active. I'd anticipate spending more time on them in the future as my pot of investments has grown and really needs more attention than I give it at the moment.
Hi Peter I have a question. So when there is a big order to back or lay on a horse and it takes out several ticks, you'll see another horse move in the opposite direction simultaneously which is obviously the cross matching kicking in, ensuring the book stays balanced. However, as I understand this is betfair itself doing this, what decides which horse is going to take the flak so to speak? For instance if a huge bet is placed suddenly on a favourite and it takes out several prices what will decide which horse gets smashed out to allow for that move? Because generally It seems to be usually one horse that will immediately drift way more than anything else. Thanks.
I would tend to wait for this to revert to mean. A large spike is likely to do so, but as always not necessary. But if I haven't seen any persistent backing or any trend in activity a large spike will just make me take my hands off for a few moments and wait.
Is there a way of knowing which ladder will adjust or is it random? (within reason - I know a price at 22, moving 5 ticks, is unlikely to move a short price 6 ticks). Because it is so easy to get lost in the market adjusting. What clues will there be, to be more confidence in price B's movement being more likely to be affected by Price A etc. Sometimes it happens simultaneously and can becomes a headache.
I tend to find two prices are correlated, i.e. one in one out in markets where there is a shorter priced favourite. If you can't decide which is going in which direction trade neither and the next best thing on the ladder. Sometimes not making a mistake is the best way to minimise losses.
Sorry I’m completely new at this at looking to going into it how do I acquire this data with ladders is it available on Betfair or do you need to buy software?
Strange things happen all the time. Coming to terms with that is a key element of trading. But my strike rate is 70-80% typically. Higher on more liquid markets.
Just undock and pin the ladder. The main interface is the sort of holder for everything, but it's perfectly possible to undock key elements to give yourself more space.
