A rare post on the blog. My best intentions to post more keeps getting swallowed up with other commitments. I had another induction day for my Mentorship Program on Monday, and settling in all the new “recruits” has been my priority. My own trading has taken a real back seat, which is something I am enjoying. I always find if I take a break I come back stronger. The other thing I have made a conscious decision to do is reduce my bank to a level that many of you have. I want to “keep it real”. I want to show you how it’s possible to profit from the Betfair exchange using a level of staking that many can actually aspire to.
You may have seen me pop up on the Betfair site. I was asked to represent GRUSS in their Vendor Apps. Promotion SEE IT HERE and didn’t hesitate. My page/videos are not finished yet. (2nd Aug) There was a serious amount of photoshopping required!
What this program is about is Betfair having a real go at promoting the EXCHANGE!!!!! I’ll repeat that in case you thought you mis read it. EXCHANGE. This is very welcome, and something I am 100% behind. As many of you know using software is essential to get the best from the exchange “experience”.
GRUSS is a program I have used since the early days. I found the Excel capabilities simple to get to grips with,so all my automated, triggered betting has been done through GRUSS. I also used the multiple tabs to manage my overnight Football trades via a VPS. However, I couldn’t get on with the ladder interface.
My involvement with GRUSS has enabled me to influence some changes within the program. You will be seeing these more and more as time goes on. I have Gary Russell chained to his desk working hard to take what is already an excellent program to another level. I am working on a series of videos to show you around GRUSS and all the configuration settings I use, plus the ones I don’t.
Trading software is about visualising the information that Betfair makes available. You need to display the relevant indicators that let you understand what the market is doing, and more Importantly what it is going to do.
The video I am going to show you now has lots of the new features that are in the next version of GRUSS. This release is imminent, so keep a look out for it. (I’ll make a new post the day it is available with a video walkthrough). With the 30 day FREE trial and £6 a Month after it’s a real bargain. You can Download it HERE.
So let’s get on with it.
You will see straight away that it’s very easy to identify this as a stable market.
There are 2 indicators that I use to show this here. First is the Last price Matched Candlesticks. Each of these black bars are added when money is matched at these odds. The vast majority of these candlesticks have been matched at 2 prices – 2.04 and 2.06. The 2nd indicator is the green shading. This indicates when the money was matched. (I have my settings at the default 60 seconds, this can be changed in settings in the new version of GRUSS). The Green shading backs up what the candlesticks are saying. Shading can show you the range, but the candlesticks can be used as a volatility indicator. I really like this. The candlesticks can also be configured for thickness so you can get them looking how you want them.
What attracts me to this position is the amount of traded volume around these 3 or 4 price points. The prices between 2.0 – 2.06 on Whitey O”Gwaun account for 60% of all money matched on this horse and 44% of the TOTAL MARKET. I believe this is significant.
I have an exit. I plan to lay this horse, there is an long term trend that indicates there is pressure on it (you can see that by the traded volume beneath 2.0. The cross over is also significant, as it’s difficult to break through that. The clincher is the fact that the market is very stable and for me to lose it would need to break through the large amount of traded volume and the crossover. It hasn’t managed it yet.
My exit should the trade go against me is 1.98. I have £800 liability at the beginning of the video. My maximum loss is £20.20. That’s my line in the sand. The point I will take the loss. If I am unlucky the odds will jump past me and I may lose more. But the point of finding such a stable place is just that. It’s stable!!!!
I never felt at any time during this trade i was in danger of posting a loss. If your trading like this, it’s a good idea to keep a look out for any movers influencing the market that will change the stability of your runner.
Hope that was useful. If you have any questions to comments I am happy to help with them. As I say, the new version of GRUSS will be available very soon. I am looking forward to be able to show you around it.
The 2 dates I released for the last 2 Mentorship inductions are filling up and October does not have too many slots available. If you are interested you can see what it involves HERE and read about what people say about it HERE.
Have a great weekend – Steve