I have recently discovered a unique talent. It is so powerful I should probably be locked away. If news of my powers get out I imagine that many financial institutions will wish to use my services.
But at my own risk I am willing to share with you what my powers are....
It appears, somewhat unexpectedly, that I can single-handedly control the direction of a market.
The Lay First Approach
Take this first example (click on the image to see a larger version). You can see the point I entered the market marked with a circle. I was fairly convinced that the price would continue to drift as other prices were shortening. All I wanted was two lousy ticks to trade out and lock in my profit.
But you can see what happened. My powers swung into action and the price did an abrubt about turn the moment my initial trade was matched! The price never went any higher again.
Never mind I thought. I scratched the trade for a small loss and moved on.
The Back First Approach
A couple of days later and I spotted an opportunity to trade on a 'steamer' - this horse's price had dropped like a stone and I saw a mouth watering chance to nip in and out of the market for a couple of ticks profit. Easy money. See the image on the left for the sorry tale. Click for a larger image.
As soon as my money was taken by 'THEM', the price shot up at speeds hitherto unknown. In the blink of an eye the price seemed to vanish into dizzying heights from which there was no recovery.
Never mind I thought. I scratched the trade for a small(ish) loss and moved on.
The Back Anything Approach
Reeling from these assaults, I steadied myself by spotting the mother of all trading certainties. This horse's price was certain to continue falling and was all but begging out for a massive back first - wait for price to drop by two or three ticks - and then trade out for a healthy profit the likes of which would see you into old age. Well until the end of day anyway.
Click on the image to see the frightening speed at which my market turning powers can affect a betfair market. I managed to back this nag at the lowest price it had ever been (apart from those trades made during the night - who does those?). Thank goodness for wearing glasses as my eyes would have popped right out onto my computer keyboard when I saw how the market reacted to my £5 back trade. No messing about this time, the price launched skywards at an impressive speed.
By now I was feeling a little paranoid. I checked everywhere for hidden cameras. I even performed a virus check in case someone had installed software on my computer that was telling 'THEM' what I was doing. The small guy trying to earn a few coppers per race. The easy target. But I could find nothing that explains this incredible power.
Never mind I lost, I scratched out and traded my moves for a big thought.
The Lay The Outsider Approach
By now I needed to make some money back. I resorted to an old faithful trick of mine - choose a likely outsider, place a lay bet and just wait for the inevitable drift in price. Trade out for an easy couple of ticks.
Well, you can see what happened here. After spending ten minutes watching this nag drift. And finding no reason to see that it would not continue to drift I stuck my lay order into the market. You can see where I got matched in the picture - see the little nipple poking out just above 20. That's me. If you look at the price slope prior to my entry into this black hole, you will see a steady drifting and a definite trend towards higher prices that surely not even the chancellor of the exchequer could stop.
And then the price seemed to plummet in the wrong direction no sooner than you could say 'get me a peanut'. Take another look at the picture - can you see the reverse nipple where the price reached out and nearly touched 15. That's me. Getting out of the market. Then look what the price did!
Am I in control of the betfair markets?
As I said at the start, it seems that I can control the market. The funny thing is, that when I mention these stories to other traders it appears that we can all control the markets!
Let us know if you have similar experiences in our forum.
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