21st June 2008 #1
WOM trading - does it still work?
Is it just me or has WOM become less and less the angle it used to be. When I started trading a couple of years ago, it was a fairly good indicator as to how the market would go.
Today, I trade with a bot (Betting Assistant from Gruss Software). It adds up the money and alerts me when I should back or lay, based on WOM. I'm just wondering however, if there are too many people getting similar alerts on their bots, and WOM is starting to become meaningless. I used to find it fairly easy to trade, but recently it seems to be much harder - especially using WOM.
Anyone agree or disagree?
I'm talking about UK racing here by the way - from 15 mins before the off.
Tada gan iarracht
22nd June 2008 #2
I think I wrote about this last year, as I done a lot of automated research on it, and basically it is a useless variable on it's own. You need to factor in other variables.
One thing that does happen now is what I call 'price bouncing'. In most cases when a price moves, it will at some point return to that price. These are the horses were WOM is generally useless.
22nd June 2008 #3
Wom is less of an angle and if you are using it you have to be aware of where the price is in relation to any resistance points. Horses generally will trade around certain prices favs that are quite short in big high volume events will have usually about 4-5 odds levels where they are very well bid. They will in low volume markets trade at numerous odds and you get alot of swings in the market ideal for swing trading.
Wom can be used but you have to have certain attributes involved in the equation and not just use the percentage as a guide i would say by all means use wom but make sure you are not on an obvious resistance point, you are following the general trend , that the wom is consistent throughout the market and not just one big lump and stay away from backing on pro trading points as these will cost you more when it goes against you.
Perhaps adapt astrategy Wayne of looking to swing trade also consider placing speculative offers outside the money that are not currently bid , you will then be first in the queue and will be able to get your trade off easily should the market arrive at that point
‘All that is necessary for the triumph of evil is that good men do nothing’
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