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Bassdrinker

Puzzles by scalping basics

Question

Afternoon everyone, newbie here. Sorry if this is obvious.

Can someone please help me with the basics of scalping? I'm sure that I'm close to understanding it but something is just not sinking in.
I'm using the basic definition of scalping as taking a 1 tick profit or loss.

Using today's 15:35 at Newbury as an example. No greening up to make things easy for now.

Shortly before the off, Palace Pier was favourite with a back price of 1.56 and a lay price of 1.57.
The tick size for these odds is 0.01

Assuming we were scalping this selection, are the following steps correct?

A:    Place back bet  @ 1.56
B:    Place a lay offer @ (back odds-tick size) = 1.55

At this point I have a matched back bet and a lay bet waiting to be matched.

As I see it there can be three outcomes.

A:    The lay price is matched at 1.55.
B:    The race is ready to start so I can cancel the unmatched bet and lay at 1.57.

What I can't get my head around is option 😄 The lay price drifts out to 1.58 and I have to take a two point loss. I can understand that losses are part of scalping but this flies in the face of the "one tick profit or loss" mantra.

I feel that I'm so close, if someone can give me the final push it would be so much appreciated.

Regards

Bd.
 

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You can also put your Back bet into the queue @1.57 and your Lay bet into the queue @1.56. You don't have to always take the available price and often it is better to wait until you get matched on a better price. Market is a very lively place and it's up to you where you place your bets. But of course, if you want to Back the current available price, you're immediately in 1 tick loss if you would want to close the trade by Laying at the current available price.

On 5/15/2021 at 5:48 PM, Bassdrinker said:

A:    Place back bet  @ 1.56
B:    Place a lay offer @ (back odds-tick size) = 1.55

At this point I have a matched back bet and a lay bet waiting to be matched.

As I see it there can be three outcomes.

A:    The lay price is matched at 1.55.
B:    The race is ready to start so I can cancel the unmatched bet and lay at 1.57.

 


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