it's almost a year since I started this challenge and now, I would like to do a little experiment with BETDAQ. Why experiment? Well, because I have never been trading on Betdaq regularly. I only used Betdaq form time to time during the Cheltenham Festival or Royal Ascot. I really don't know if I can make money there because my plan is to only be connected to Betdaq exchange during the trading. In other words, I don't want to watch how the market is doing on Betfair. I would like to know if it is possible to trade just by watching the price action (that is something I was doing on Betfair for more than a decade). I never watched fundamentals like horses, jockeys, their form/fitness or weather on the track. I only observed the demand & supply in the trading software and I made my trading decisions when I recognized some pattern.
The other argument to watch only Betdaq is that I have always been a scalper. A scalper is someone who does quick decisions and reacts to small market movements most of the time. I believe there is not enough time for me to watch one exchange and put orders on the second one. I tried this in the past and it only caused me a headache Also, arbitrage seems to be already made by automated bots and there is not enough room for a manual trader to arb between Betdaq and Betfair. Bots are almost always quicker and they are probably deployed on a server close to the Betdaq servers to minimize latency.
This is going to be a small adventure (I will probably start tomorrow) because I will have to adapt on much lower liquidity. By the way, I have made a post about liquidity on Betdaq:
I'm Supporting Betdaq
As you may know, I don't really like Betfair because of their monopoly practices. I have decided, purely on my own, to support Betdaq on this website. If you don't have a Betdaq account, you can open it using my link or by clicking on any of the Betdaq banners on the website (I will receive a small commission if you do so).
Real-Time Trading Chat on WowApp
I've opened a real-time trading group chat in my favorite WowApp messenger. If you want to join, you have to use this link (or click any of the banners on this website). Some people were interested about what am I doing when I don't trade much anymore. WowApp is one of the things I'm quite heavily invested in. It's also the only place where you can connect with me in real-time.
If you have any questions, ask me in the comments!