It’s all too easy to stay narrow minded when trading markets. Especially in the case of Betfair, where, although the selection of software is generally of a very high standard, there isn’t a great deal of variety. That is with the exception of ‘A Geeks Toy’, which is by far the best and is also free.
So, what am I getting at? It’s about looking outside the box. When I first decided to experiment with using Technical Analysis on Betfair, it was very simply the case of charting price against time (and admittedly I still use these metrics today). But ask a trader what moves the markets, and you’ll get a response that it’s undisputedly money. So why not chart volumes against time?
As the market becomes more liquid, the indicators and experts will, instead of trying to predict what will happen to the price over a set period in the future, try to predict what will happen to the price over the next interval of matched volumes. You have to admit, if anything, it does sound more logical. It is only more recently that I have decided to start having a greater look at volumes charts, and I like what I see. Trading with volume intervals of 1000 seems to be a good benchmark (though this will change depending on the standard of racing).
I was testing it out today along with some new indicators I downloaded from Micro-Trends. The one in the screenshot above (HINT: Reversals) is called ‘The River’. Take a look at its description:
Free NinjaTrader Indicator – The River
The River is a Free NinjaTrader Indicator – For scalping, reversal, breakout and mean reversion trading – stay on the sidelines when the market is inside the river – trade only when you are on the extremes and reverting to the mean or breaking out.
One of the indicators I am particularly interested in is called ‘The Scalper’. Funnily enough, it does exactly what it says on the tin. I’ve had a few days watching it work on past data, and, with the help of the NinjaScript Strategies and Optimization function, am customizing the indicator to suit particular types of odds-on favourites.
There are many more, all of which can be downloaded at:
http://www.micro-trends.co.uk/products/free-ninjatrader-indicators/default.aspx
If you are at all curious about trying some of these slightly abstract, and also free indicators, google “Free Ninjatrader Indicators” and take a look at the vast amount available.
Recent Comments