Optical illusions - Part one
Here is some music to listen to with this post.
We provide two, no actually, three types of charting with Bet Angel. The first two we have had since Bet Angel was created some time ago. These are the basic Betfair charts and the more complicated charting area which is replicated in the advanced ladder area. This charts price and weight of money.
The latest addition to this arsenal was the advanced charting, which came on line in this last year. We invested a fair bundle of cash in bringing you the advanced charting function, this despite reducing prices. It's a swing traders nirvana. Rather than blabber on about it watch the video here.
The reason for this post is to point out an optical illusion that befalls many a hopeful trader. If you rely on the plain old Betfair charts you will not see a true representation of the market. This is because the data is not scaled correctly to time. In the illustration you can clearly see the problem.
Figure (1) A nice trend has developed on this horse but this is from the open of this market, probably from the night before the race was run. Also, look at the bottom this trend has occurred with little or no volume. There is actually very little money behind this trend. Not only does this hint at its weakness, given the time taken and the lack of volume this isn't a trend that could have earned you a fortune.
Figure (2) is the 'real' trend and the one that is supported by true volume and the one that occurred in minutes before the off. Notice how, despite covering a much smaller time period, it looks like it is over the same time on the Betfair graph.
Figure (3) is the in play market.
If you fire up Bet Angel some time before you intend to use it and load up the 'Guardian' feature with the markets you wish to trade. Bet Angel automatically cycles these markets and not only manages any positions you have, but also collects data for you. When you are nearer to the off switch to the market and the full screen resizeable charting will already be populated with data from the most recently time period. You can now change or modifying the charting to suit and it will instantly reflect the data for you, allowing to you see real trends in real time. Not the optical illusion you see on the Betfair charts. If you want to go a step further, we have also included a charting spreadsheet for you in the template area of the Bet Angel Excel link. This will allow you to custom create your own charting.
In short, there are lots of tools on Bet Angel that take you well above anything that anybody else has in the market. Make sure you use them.
The latest addition to this arsenal was the advanced charting, which came on line in this last year. We invested a fair bundle of cash in bringing you the advanced charting function, this despite reducing prices. It's a swing traders nirvana. Rather than blabber on about it watch the video here.
The reason for this post is to point out an optical illusion that befalls many a hopeful trader. If you rely on the plain old Betfair charts you will not see a true representation of the market. This is because the data is not scaled correctly to time. In the illustration you can clearly see the problem.
Figure (1) A nice trend has developed on this horse but this is from the open of this market, probably from the night before the race was run. Also, look at the bottom this trend has occurred with little or no volume. There is actually very little money behind this trend. Not only does this hint at its weakness, given the time taken and the lack of volume this isn't a trend that could have earned you a fortune.
Figure (2) is the 'real' trend and the one that is supported by true volume and the one that occurred in minutes before the off. Notice how, despite covering a much smaller time period, it looks like it is over the same time on the Betfair graph.
Figure (3) is the in play market.
If you fire up Bet Angel some time before you intend to use it and load up the 'Guardian' feature with the markets you wish to trade. Bet Angel automatically cycles these markets and not only manages any positions you have, but also collects data for you. When you are nearer to the off switch to the market and the full screen resizeable charting will already be populated with data from the most recently time period. You can now change or modifying the charting to suit and it will instantly reflect the data for you, allowing to you see real trends in real time. Not the optical illusion you see on the Betfair charts. If you want to go a step further, we have also included a charting spreadsheet for you in the template area of the Bet Angel Excel link. This will allow you to custom create your own charting.In short, there are lots of tools on Bet Angel that take you well above anything that anybody else has in the market. Make sure you use them.
posted by Peter Webb at
11:28 AM
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