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Tomas

14.1.3. IP SP - Starting Price £209+

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In this video, you can see how profitable it can be to use the IP SP option in Geeks Toy in certain situations. The day I recorded the video, there had been a punter who always wanted to match his big bets at Starting Price. He was simply following the same pattern in all of the races and I was pretty sure that was the case again – so that’s why I decided to close my position with Starting Price, too. Watch these daily patterns.

Description:

  • 0:09 – 0:27 – I’m prepared to close my position. My cursor is on the Lay side, just a single click from exiting the trade.

  • 0:29 – I’ve decided to increase my position with another Back bet.

  • 0:30 – 0:44 – I was still prepared to close my position if the market would go against me. My cursor was on the Lay side.

  • 0:48 – I’ve placed my Lay bet. Then I clicked the right button and made that bet an IP SP bet. In this way, you can be sure your bet will be matched at Starting Price.

  • 0:50 – 1:08 – I did drag the bet and was prepared to immediately scratch the trade if the market would go against me.

  • 1:10 – I wanted to make sure the bet is really set to take Starting Price. It’s better to check twice than accidentally let the market go in-play with an open position.

  • 1:14 – Profit £209 versus just £13, which I would have had if closing the trade pre-race. The market is live and my Lay bet was matched far below the price @6.20, which I did set up at 0:48.

  • 1:16 – 1:30 – I’m finishing the trade by hedging.

Back to IP SP - Starting Price 

An interesting highlight in this video is that the punter was also on the second favourite horse. If you stop the video at 1:07, and watch the second favourite horse Lincoln, you can see the last traded price was @3.80 and the last traded amount was £5,044. That means the price went down from 6.60 to 3.80. That was a huge potential for a profit. I just noticed this situation when editing the video.

 

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Just now, Jonny Hoareau said:

Hello Tomas, 

 

Great videos, I was wondering where to find the SP to know if my entry/exit position would be better to take SP? 

 

Thank you. 

Hi @Jonny Hoareau,

thank you. I usually use it when there is a strong movement just a few moments before the start of the race. For example: a good indicator for me is when the price goes down quickly and all the horses are already in stalls & ready to start the race. Just be aware I don't use this very often because the opportunity is not always there. Maybe once per day or once per every two days. It's a nice add-on to the traders skill set.

However, the video above shows a different scenario - something like a daily pattern (little mention about daily patterns here). There was a guy in the market pushing the price down. I observed his behavior and I used it to make a profit. 

I also use SP when I want to run my profit as much as possible but the race is about to start very soon. This way, I can be sure my bets will be matched if the market goes in-play.

  • Thanks 1

“Sports Trading Exposed” is now FREE & OPEN SOURCE! The most comprehensive, in-depth online sports trading guide ever written.

“After more than 10 years of full-time sports trading that put me in the top 1/2 per cent of the most successful career earners on Betfair, I’m exposing EVERYTHING I’ve learned!  I’ll provide you with all the tools you need to substantially decrease your risk and exponentially maximize your earning potential!”

Click to read it now!

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Just now, Jonny Hoareau said:

Thank you for your reply,

But how do you know the SP price will make you more profit?

Where can I see the SP?

 

The truth is - I never don't know exactly. This "guess" is based on my experience (probably like the rest of my ability to make a profit with trading). However, you can turn on the Projected SP in GT:

752767571_StartingPrice.png.e7324ae6495324ac160b5694b6ae8b3b.png

And then you should see this window in your Main Info Bar:

285366986_StartingPrice2.png.58119d34d006f8ef69fa593b27d171fd.png

But - to be honest - I don't use this window at all :) 

  • Thanks 1

“Sports Trading Exposed” is now FREE & OPEN SOURCE! The most comprehensive, in-depth online sports trading guide ever written.

“After more than 10 years of full-time sports trading that put me in the top 1/2 per cent of the most successful career earners on Betfair, I’m exposing EVERYTHING I’ve learned!  I’ll provide you with all the tools you need to substantially decrease your risk and exponentially maximize your earning potential!”

Click to read it now!

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