Calling The Ocho
 

Hi, I need your opinions on trading, i used to trade in the uk markets a couple years back but i hear you saying it doesn't work here, just wondering why it doesn't work and anything else you may know that affects it.

Thanks mate.

Hi Shaun, Thanks for calling on me. :)

I can't really say though what has happened as maybe it was just me. Maybe I was having a bad run but I kept finding I wade into the market with say a lay bet, waiting for the horse to drift a bit but then a big back bet would come and wipe out any profits I might have made before that time.

As I said, maybe it was me not reacting quickly enough and letting bets ride a little too long thinking they would come back my way but they didn't. I know that is a classic rookie mistake but I had been trading for a while before that.

As I type this this morning I can't really pinpoint anything in particular suffice to say that I thought the markets were behaving differently than they used too. I'll have a think about it today at work and report back if I think of anything else.

Maybe someone else can comment if they think the markets have changed trading wise.

Thanks mate, appreciate the feedback, how about costs associated with trading the Aussie markets, if i remember correctly you were saying they have maximum amount of markets or something then they start charging more or something.

Basically what i need to do is trade out my liability from other bets, not all of them are placed on betfair, i know trading can be a tricky game but even if i could get back half my liabilities this would improve my position.

Any back bets on the Australian market on betfair will involve a turnover tax.

http://www.betfair.com.au/helpcentre/turnovercharge/

It means its not worth trading on the Aust markets with any sort of money.

Thanks for that, i will have a read, not sure how it will affect me as i am using a combination of trading, backing and hedging, but it all adds up with just have to see how it goes.

It used to be up to 50 turnover charge markets per week and it looks like it still might be but they cottoned on to me doing mid to high 40's each week. If you trade non turnover charge markets then it is unlimited.

The only markets that don't charge it are Qld, Tas, NT, SA (although they used too so not sure what has happened there) and VIC (however Victoria going back to the turnover model meaning that Vic is out of the question again - well, up to 50 markets anyway and that's combined).

Like I said, I don't do it anymore. One of the reasons I thought of today was that I went well when I could trade every market one after the other when the turnover charge wasn't there. When they introduced it (and after I got banned for costing them too much) I just couldn't concentrate waiting around for the next legit meeting. I traded best when I was in the zone (maybe even the twilight zone :) ) and not waiting around for a few races to pass before trading my next one.

I hope all that makes sense. Good luck with which ever way you want to try and work it.

The turnover charge jurisdictions and the amounts are listed on a seperate page with a link at the bottom of that page UB attached. Here is that page:

http://www.betfair.com.au/helpcentr...tes_tracks.html

Shaun
You won't have any trouble laying on BF against your win bets elsewhere unless a) you make too much money
b) your amounts are too large for the Oz markets.