Australian racing

The sport of kings.
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Naffman
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Derek27 wrote:
Wed Jun 26, 2019 8:11 am
With the exception of that chart I posted above I found this mornings trading pretty hard work. Couldn't sleep last night so I might start going to bed earlier, give the Australian racing a miss and catch more of our sunshine.
The liquidity seems to have fallen off a cliff, the POC tax can't have had a positive effect
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Euler
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Bear in mind, it is mid winter so even I probably won't get up early to trade them.
eightbo
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Card at Sunshine Coast looks half decent tonight.

Going to make an effort to ease into the session this week.
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Derek27
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Good night of scalping hopefully.
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PDC
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eightbo wrote:
Fri Jun 28, 2019 8:34 pm
Card at Sunshine Coast looks half decent tonight.

Going to make an effort to ease into the session this week.
Hopefully the card isn't lost to the wet weather.

You are unlikely to make a session in the first bit but you can sure well lose it so a steady start is a good approach to take to get you in the right mindset after last week.

BFLV has Caulfield for those interested.
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mcgoo
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If my first 3 trades are an indication I am well into my break-even shuffle dance routine. :)
For Derek's benefit..the cat was outside playing tennis with my daughter and I this morning. :shock: I am starting to wonder about this cat :D
eightbo
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PDC wrote:
Sat Jun 29, 2019 2:47 am
You are unlikely to make a session in the first bit but you can sure well lose it so a steady start is a good approach to take to get you in the right mindset after last week.
👍 Accurate
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PDC
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Rosehill is scalping the best it has for quite a while.
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mcgoo
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PDC wrote:
Sat Jun 29, 2019 3:06 am
Rosehill is scalping the best it has for quite a while.
I have spent at least 2.5 years being perplexed by these type of statements..kinda like when,at school or Uni, you went into what thought was a history exam and the chap next to you pulls out his protractor :o :D
I obviously still have a loong way to go to be able to read markets :)
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PDC
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mcgoo wrote:
Sat Jun 29, 2019 3:26 am
I have spent at least 2.5 years being perplexed by these type of statements..kinda like when,at school or Uni, you went into what thought was a history exam and the chap next to you pulls out his protractor :o :D
I obviously still have a loong way to go to be able to read markets :)
Have a look at the chart Derek posted a bit ago. You will see the price trades in a very tight range, therefore it is matching people on the back and lay side. There is no swing to be seen, so the approach to take is to look for scalps.

Recently the prices have been moving about a lot more where as today they are remaining stable and when moving they are moving slowly.

HTH
Last edited by PDC on Sat Jun 29, 2019 3:44 am, edited 3 times in total.
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mcgoo
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PDC wrote:
Sat Jun 29, 2019 3:33 am
mcgoo wrote:
Sat Jun 29, 2019 3:26 am
I have spent at least 2.5 years being perplexed by these type of statements..kinda like when,at school or Uni, you went into what thought was a history exam and the chap next to you pulls out his protractor :o :D
I obviously still have a loong way to go to be able to read markets :)
Have a look at the chart Derek posted a bit ago. You will see the price trades in a very tight range, therefore it is matching people on the back and lay side. There is no swing to be seen, so the approach to take is to look for scalps.

Recently the prices have been moving about a lot more where as today they are remaining stable and when moving they are moving slowly.

HTH
Thanks for that. I generally pick what looks like a scalpy market but I have been burnt so often by fast directional changes that keep going and never come back...so if it goes against me by 2 ticks or so I am out before the damage is too great. I have trouble thinking in probabilities so I just work on my discipline which I historically have been good at in life.. I decided to avoid scalping as the downside outweighs the upside by some distance for me. Perhaps one day I will get it but for the moment it remains the blackest art of the trading strategies to try for me (that said after reading you post I scalped one tick at Rosehill- :)-baby steps :lol: )
Thanks again-appreciated
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Derek27
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PDC wrote:
Sat Jun 29, 2019 3:06 am
Rosehill is scalping the best it has for quite a while.
Scalping well but I get an uneasy feeling that it's suddenly going to move 6 ticks. Gradually doing better with each market.
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Derek27
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mcgoo wrote:
Sat Jun 29, 2019 2:54 am
If my first 3 trades are an indication I am well into my break-even shuffle dance routine. :)
For Derek's benefit..the cat was outside playing tennis with my daughter and I this morning. :shock: I am starting to wonder about this cat :D
Just caught my cat walking on my seedbed!
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mcgoo
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Derek27 wrote:
Sat Jun 29, 2019 3:47 am
mcgoo wrote:
Sat Jun 29, 2019 2:54 am
If my first 3 trades are an indication I am well into my break-even shuffle dance routine. :)
For Derek's benefit..the cat was outside playing tennis with my daughter and I this morning. :shock: I am starting to wonder about this cat :D
Just caught my cat walking on my seedbed!
:shock:
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PDC
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mcgoo wrote:
Sat Jun 29, 2019 3:43 am
Thanks for that. I generally pick what looks like a scalpy market but I have been burnt so often by fast directional changes that keep going and never come back...so if it goes against me by 2 ticks or so I am out before the damage is too great. I have trouble thinking in probabilities so I just work on my discipline which I historically have been good at in life.. I decided to avoid scalping as the downside outweighs the upside by some distance for me. Perhaps one day I will get it but for the moment it remains the blackest art of the trading strategies to try for me (that said after reading you post I scalped one tick at Rosehill- :)-baby steps :lol: )
Thanks again-appreciated
Rosehill R3 was another decent scalping market.

What approach would you have taken to that market other than scalping? The price was barely moving so not sure what else you could have done?

You say the downside outweighs the upside for you but surely by not touching them you are missing out on returns, you need to learn how to scalp markets better and you should know by now from this thread that Rosehill and Randwick are some of the best scalping markets you will find. So there is no better place to try it.

Try it in the next at Rosehill...You don't need to use large stakes, just use what you are comfortable with, it isn't about what you win at this stage other than the number of ticks. The money is irrelevant. Pop a lay in and your back and see how fast each side is being matched and you will then be able to judge how quickly you can add stakes to each side based on the fill rates.

Others like it but I tend to find Victorian tracks such as Flemington and Caulfield much harder to scalp as the prices move about much more than on NSW's main tracks. They just seem to trade very differently in Victoria, why I have yet to figure out other than perhaps it is linked to the turnover charge.
Last edited by PDC on Sat Jun 29, 2019 4:27 am, edited 2 times in total.
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