Binary options live trades per day44 comments
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Many of us take for granted some the things we do on a daily basis. But for many of the new very welcome visitors I have, trading, Betting exchanges, back2lay, green book and the endless jargon we use are completely alien to them. I want to change that. On this page I am going to run though one of my back2lay trades as an example. From the start to the end. As you can see it includes a video.
I recommend you read the text first before you watch the video. I advised this trade around The whole idea of this type of trade is to back the horse at the price advised as I think the price will shorten enabling us to LAY the horse later in the day, usually in the last few minutes before the race begins to lock in any profit the drop in odds has produced. The technique I show works exactly the same for any profit OR loss that may have been incurred.
The format used is as follows 2: The price I advise is 9. Take a much lower price because thats the best price you can get. The amount of money that is available to be matched. In the screen shot you can see that in each box there are 2 numbers. The top, bigger number is the price. The smaller number underneath is the amount of money that is available to take. If your bet exceeds this amount the price will change to pink and move to the lay side.
It will then be offered to other users as a LAY bet. If they take that bet your money gets matched. Execute the bet and come back if you can in 5 minutes. Most of the time the bet has been taken. If you take the 3 tick reduction in odds, that may be the difference between a winning and losing trade. It is important to make some distinction between odds. I the price is 2.
If it is 12 the 3 ticks gives you It is the increment between each price point. If something ugly is happening and an exit is required I usually tweet that news. The next part of the advice message is regarding the Stop loss. The stop loss is an mechanism we need to have in place to protect ourselves form a loss that is heavier than the potential reward of the trade. It is inevitable that from time to time this will be needed.
So the trade is on, our money is matched. I am fortunate enough to be able to keep a close eye on my trades all day. If your sticking any serious money on them it would be foolish not to. It is possible to use software package such as Gruss or Bet Angel or the Geeks Toy to do this for you. But the nature of the markets mean that quite often there are gaps in the market that trigger the stop loss. We then come to the point when you want to either take your profit or cut your losses.
The technique is the same. I use software to do this. For the purposes of this video and the target audience who will not have any software I wanted to show the old fashioned way. This is ok when the market is static, but win the last minutes before a race it is useless. If any of you have seen the Betfair tv advert showing this feature on the Man Utd v Everton game when he took 1. After dithering at , If you have a chance to lock in any profit at 1.
This trade had the added complication of a non runner. So it needed to be shown anyway. Betfair have a version of the bookmakers Rule 4 called reduction factor. It is a mechanism that reduces the odds by a predetermined percentage to take into account the reduction of the book percentage. To find out any non runners and their reduction factors you need to click on the rules tab. This shows the information you need.
It makes no difference to any calculations. There are a couple of options now. You can take the profit or loss equalised across all the runners in the race. So that you get the same no matter what the result. Redding up is a term used if every runner has a loss. Another option, if you are in profit. This will give what is basically a free bet. No loss if it loses, but a very handsome return if it wins. However, this is a not what I am interested in. I always lock in my profit before the race, across all runners.
Click on the Pink box next to your runner at the price you want. Be quick as the prices change quickly. You need to enter the sum of your potential profit to your stake used originally. Enter that amount in the box and click OK. The stake Betfair has calculated will automatically be in the box.
This is the column to the right of each runner that gives the new position if you trigger the bet and it is matched. It should be the smme all the way down. You need to judge if the price has raced out against you if you need to cancel the bet and start again.
The closer to the start the more volatile things get. Start out by closing the trade 7 or 8 minutes out. You close the trade and then watch it move in another 5 ticks while you hold your head in your hands. Except a heartfelt plea from me. I am sure that many of you will exactly what your doing. This is for the other guys. Please feel free to ask any questions, however silly you think they are. Hello, thanks a lot for all your efford, all these articles are very helpfor for who, like me, is just starting to getting close to trade.
All you said was very clear, but let me ask you something: Can you specify wich are the key factors to individuate horses that probably gonna let us make a profit using Back2Lay? Hi Max, The process is simple, but lengthy to explain in type. The volume is ensure the reliability of the movement in odds. It validates the graph in effect. I am looking for horses that are supported with the volume to confirm this. The 2nd part is the bookmaker odds need to be close to Betfair odds.
Why would you back a horse on Betfair at 6. If you watch the video everyday you will pick it up. Hello Nice to read your Blog, I have been using Bet Angel for about 6 months, but admittedly the first 3 months were wasted with me being totally undisciplined and stupid. I was trading, well that is not true, I actually Laid anything around 8. My next brainwave was using the automation on Bet Angel, settings were set to back the leader, or the winner I thought at between 1.
Finally with me going out of my mind, I realized that the only way was to trade before a race and get out before in play, I practiced every day for 30 days practice mode. And I began to read the graphs and watch the resistance levels etc etc, and gradually I began to see if I wanted to earn a wage from home, this was the only way to do it, If I wanted trading the horses to work.
Very nice video and although I understand the concept of this type of trade its nice to see it done the old fashioned way. I have started using BetAngel and it makes things a lot easier than the video to do.