Ladbrokes FX

[PhiltheBear]

how would I calculate how much to put on the opposite bet? And what if the level moved to 1.2830 and I wanted to cut my losses?

It depends on the odds on offer - nothing more. If you had put, say, £100 on at evens then when the bet moves into profit you should collect £100. However, you are at risk for £100 - your stake. You can only make a profit if you can now get odds of the market moving in the 'wrong' direction that are greater than evens. Suppose the odds of doing that are 1.1 to 1. If you bet £95 then one of 2 things can happen - First, the market moves down, in which case you win 95 x 1.1 = 104.5 on the down bet but lose 100 on the up bet - giving you a 4.50 profit. Or, second, the market stays up, in which case you lose the 95 but win the 100 - giving you a 5 profit.

Neither will give you the 'big' money but you will lock in a profit.

I use this to back and lay the same horse in a horse race when the odds change (most odds decrease in the 1/2 hour before the off but increase as bookmakers try and balance their books just immediately before the off).

Your bet at 1.1 in the example above is the equivalent of laying a bet at 1/1.1 e.g. a shorter price than you took the bet at. If you bet on a result at 3/1 but can lay the same bet at 2/1 then you can always lock in a non-loss situation and by subtle adjustment of stake can guarantee a small profit.

 

[notouch]

Thanks, that's very helpful. It's definitely easier to use decimals. It's fairly easy to do the maths where the starting bet is evens but more difficult where it's 2.5 for example. Is there a formula you can use to get the exact stake needed to make profit and loss equal regardless of the closing level?

 

[PhiltheBear]

Decimal odds are usually quoted to include the stake returned. Thus Evens would be shown as 2. If you use decimal odds - where S1 is the stake on the first bet at odds of O1 and O2 are the current odds on the second bet your new stake should be S2 where S2 = S1*(O1/O2)

Provided the odds are right this will always produce a (usually small) profit.

 

[quicker]

Decimal odds are usually quoted to include the stake returned. Thus Evens would be shown as 2. If you use decimal odds - where S1 is the stake on the first bet at odds of O1 and O2 are the current odds on the second bet your new stake should be S2 where S2 = S1*(O1/O2)

Provided the odds are right this will always produce a (usually small) profit.

Hello,

has anyone had any difficulty in placing 5 min bets with ladbrokes, i.e. they take ages to confirm, most get rejected, unless of course it goes in their favour?

does this sound familiar or is it just me?!

 

[c6ackp]

Hello,

has anyone had any difficulty in placing 5 min bets with ladbrokes, i.e. they take ages to confirm, most get rejected, unless of course it goes in their favour?

does this sound familiar or is it just me?!

I think they've been progressively tightening their trade acceptance criteria over the past few weeks, but I still get all the action I can eat and only a few "price no longer valid" failures.

If you only place trades in the last minute or last 5-30 seconds then you will get a lot of rejections.

Still good fun - ROI currently standing @ more than 35,000% in three weeks (significantly better return than my Nationwide Flex account!)...

c6

 

[laptop1]

I think they've been progressively tightening their trade acceptance criteria over the past few weeks, but I still get all the action I can eat and only a few "price no longer valid" failures.

If you only place trades in the last minute or last 5-30 seconds then you will get a lot of rejections.

Still good fun - ROI currently standing @ more than 35,000% in three weeks (significantly better return than my Nationwide Flex account!)...

c6

Do you buy and sell in the same 5 mins to hedge you bets so you cant lose

 

[c6ackp]

Do you buy and sell in the same 5 mins to hedge you bets so you cant lose

Yes, I hedge occasionally. When the market is very volatile, it's also possible to be long and short in the same 5 min period and win both bets by capturing the range. You'll get a bit of a buzz the first time you land a 5 min range trade!

 

[c6ackp]

Haven't used this site for a few days - tried to place a trade today and found that my maximum win has been reduced to 10quid!!

Be warned! These guys are bad losers...

c6

 

[Clip-on Tie]

Wow that's extreme. Can you confirm that next week if possible so we know that's policy rather than a temporary technical error?

 

[Robertral]

I think they've been progressively tightening their trade acceptance criteria over the past few weeks, but I still get all the action I can eat and only a few "price no longer valid" failures.

If you only place trades in the last minute or last 5-30 seconds then you will get a lot of rejections.

Still good fun - ROI currently standing @ more than 35,000% in three weeks (significantly better return than my Nationwide Flex account!)...

c6

I find that extremly difficult to believe....so how much did you start with?
.....If you made anything over 10% you'd be a very rich man as the hedge funds and banks would be fighting to get you on board....

 

[c6ackp]

Wow that's extreme. Can you confirm that next week if possible so we know that's policy rather than a temporary technical error?

It's the same this morning:

"Stake reduced to comply with maximum payout rules" (£10)!!!

Good fun while it lasted! I should've bet £500 a go instead of £50!!

c6

 

[c6ackp]

I find that extremly difficult to believe....so how much did you start with?
.....If you made anything over 10% you'd be a very rich man as the hedge funds and banks would be fighting to get you on board....

I made around 40,000% - which is 400x. I opened an account and deposited £50. I lost £40 getting used to the interface and trying to figure out whether the static odds or the moving odds was the best value. I then turned the remaining £10 into almost £4k.

I used to work for Goldmans: the hedge funds only managed, on average, 2-3% in the first six months of last year so, yes, they would be impressed with 40,000%!!

However, the ladbrokes game is very different to the real market, as it's too easy to win. I guess Ladbrokes know more about horses than financial markets!!

c6

 

[Robertral]

I made around 40,000% - which is 400x. I opened an account and deposited £50. I lost £40 getting used to the interface and trying to figure out whether the static odds or the moving odds was the best value. I then turned the remaining £10 into almost £4k.

I used to work for Goldmans: the hedge funds only managed, on average, 2-3% in the first six months of last year so, yes, they would be impressed with 40,000%!!

However, the ladbrokes game is very different to the real market, as it's too easy to win. I guess Ladbrokes know more about horses than financial markets!!

c6

So the only Ladbrokes FFO prouct you trade is FX???
If not then what do you think your whole %return is????

How are the daily FX products different from an OTC FX digital, in the real market????

 

[c6ackp]

So the only Ladbrokes FFO prouct you trade is FX???
If not then what do you think your whole %return is????

How are the daily FX products different from an OTC FX digital, in the real market????

Hi Robertral,

I only tried their FX game, trading cable only - the 5min game.

Are you saying that there are banks which offer 5min cable options with no spread, no commission, no premium, nada (& strike @ mkt)? That's what Ladbrokes are offering.

I don't know how Ladbrokes/Cantor could effectively hedge these bets, so I guess that's why they stopped me playing the game.

c6

 

[laptop1]

Hi Robertral,

I only tried their FX game, trading cable only - the 5min game.

Are you saying that there are banks which offer 5min cable options with no spread, no commission, no premium, nada (& strike @ mkt)? That's what Ladbrokes are offering.

I don't know how Ladbrokes/Cantor could effectively hedge these bets, so I guess that's why they stopped me playing the game.

c6

c6ackp

on the 5min what was you trading

moving odss/static level

or

static odss/moving level

 

[c6ackp]

c6ackp

on the 5min what was you trading

moving odss/static level

or

static odss/moving level

5min static odds 1.83x (6x for news)

HTH
c6

 

[henry766]

I made few pounds on this , then a week ago i tried to place in total about £800 pounds worth of bets ( over about 6 trades ) they took an age to "accept " the bets and then refused the potential winners as price no longer valid , this was a week ago friday evening , didn't seem to have a problem in the morning or when I was losing . Needless to say I didn't get any of my losing bets from that day returned saying "the price was no longer valid" , these "no longer valid bets were atleast three quarters of the bets i made that afternoon /evening, maybe they do know as much about financial mkts as horses , as I would have thought accepting only losing bets was quite profitable!!!

 

[c6ackp]

I called Ladbrokes earlier to ask why my account had been restricted:

c6:

"Hi, my account number is xxxx: I've been using your financial betting service over the past month or so. I logged in today and found that the maximum payout on my account has been reduced to £10. Is that normal?"​

Ladbrokes:

"I'll call you back"​

.
.
.
Ladbrokes:

"Hi, yes, about your account. You've obviously been "fairly successful" and consequently your stakes have been "factored". It's nothing personal, the same would happen in any department. Anyone consistently winning on the horses or the dogs, for example, would also be restricted."​

c6:

"It's not worth the effort playing for £10. So, I've been restricted simply because I was winning consistently?"​

Ladbrokes:

"Well yes"​

c6:

"That seems a bit unfair, doesn't it?"​

Ladbrokes:

"Yeah, if I was in your shoes I would feel that it was unfair. But it comes with the territory, any bookmaker would do the same. Whoever said betting with a bookmaker was fair?..." (!)​

.
.
.
You've gotta admire the guy's honesty!!!!!!

They said I could make a request in writing to have the restriction removed/altered. However, bookmakers are under no obligation to take bets they don't like.

I've never had any dealings with bookies before (except Capital Spreads ). This has been a bit of an eye-opener for me!!!

c6

 

[wasp]

I called Ladbrokes earlier to ask why my account had been restricted:



c6:

"Hi, my account number is xxxx: I've been using your financial betting service over the past month or so. I logged in today and found that the maximum payout on my account has been reduced to £10. Is that normal?"​

Ladbrokes:

"I'll call you back"​

.

.
.


Ladbrokes:

"Hi, yes, about your account. You've obviously been "fairly successful" and consequently your stakes have been "factored". It's nothing personal, the same would happen in any department. Anyone consistently winning on the horses or the dogs, for example, would also be restricted."​

c6:

"It's not worth the effort playing for £10. So, I've been restricted simply because I was winning consistently?"​

Ladbrokes:

"Well yes"​

c6:

"That seems a bit unfair, doesn't it?"​

Ladbrokes:

"Yeah, if I was in your shoes I would feel that it was unfair. But it comes with the territory, any bookmaker would do the same. Whoever said betting with a bookmaker was fair?..." (!)​

.
.
.
You've gotta admire the guy's honesty!!!!!!

They said I could make a request in writing to have the restriction removed/altered. However, bookmakers are under no obligation to take bets they don't like.

I've never had any dealings with bookies before (except Capital Spreads ). This has been a bit of an eye-opener for me!!!

c6

That is classic!

 

[BinarySoft Chris]

I'm surprised they said all of that - when my account was limited, I asked to speak to their financials section and all I could get out of them was that it had been limited because of a "trading decision"