How to cover an unmatched Make Market trade?

[Brovashift]

Hi all,

Just practicing with the One Click screen using the Make market to place a trade, and was just wondering;

How would I exit an unmatched trade if a race was about to start e.g. placing a back and lay bet on a horse race but only the lay was matched, and the back remains unmatched going into the race.

Would I just cancel the unmatched back bet and leave the corresponding lay in place... and gamble it?

or Keep the back bet open and take it into the race in the "hope" (for want of a better word) that it gets matched mid race?

or, just back at the latest back price before the off, and accept the loss?

Thanks

[Dublin_Flyer]

Do NOT let it go in play as a gamble, that's a big trigger for people here

It's the difference between trading and gambling, if you're closing your position before/at the off, you're trading....if you have an open position and go in-play "Hoping" it gets matched, that's pure gambling.

Take SP if your closing bet isn't matched at off time, it's better to lose your hat than lose all your clothes!

[Silverthorn]

You might find this very useful.

viewtopic.php?f=58&t=19120

[Brovashift]

Do NOT let it go in play as a gamble, that's a big trigger for people here

It's the difference between trading and gambling, if you're closing your position before/at the off, you're trading....if you have an open position and go in-play "Hoping" it gets matched, that's pure gambling.

Take SP if your closing bet isn't matched at off time, it's better to lose your hat than lose all your clothes!

Cheers Dublin... I'll keep that in mind and make sure not to ruffle any feathers with my noobie gambling terminology

I see it now, "Take SP All" at the bottom Thanks.

[Brovashift]

You might find this very useful.

viewtopic.php?f=58&t=19120

Thanks Silverthorn, interesting... I will definitely have a go at the automation, once I get my head around doing things manually.
You watch Betfair go down tomorrow now lol.

[Derek27]

Hi all,

Just practicing with the One Click screen using the Make market to place a trade, and was just wondering;

How would I exit an unmatched trade if a race was about to start e.g. placing a back and lay bet on a horse race but only the lay was matched, and the back remains unmatched going into the race.

Would I just cancel the unmatched back bet and leave the corresponding lay in place... and gamble it?

or Keep the back bet open and take it into the race in the "hope" (for want of a better word) that it gets matched mid race?

or, just back at the latest back price before the off, and accept the loss?

Thanks

Sports trading is very different to fianancials but the question you're asking is much the same. You wouldn't take a gamble on the stock market in a similar scenario, would you?

Gambling can be profitable but it takes years to develop the knowledge, skill and understanding of horses. Absolute zero chance of of winning or recovering losses by taking pot shots on the basis of a losing trade.

[Brovashift]

Hi all,

Just practicing with the One Click screen using the Make market to place a trade, and was just wondering;

How would I exit an unmatched trade if a race was about to start e.g. placing a back and lay bet on a horse race but only the lay was matched, and the back remains unmatched going into the race.

Would I just cancel the unmatched back bet and leave the corresponding lay in place... and gamble it?

or Keep the back bet open and take it into the race in the "hope" (for want of a better word) that it gets matched mid race?

or, just back at the latest back price before the off, and accept the loss?

Thanks

Sports trading is very different to fianancials but the question you're asking is much the same. You wouldn't take a gamble on the stock market in a similar scenario, would you?

Gambling can be profitable but it takes years to develop the knowledge, skill and understanding of horses. Absolute zero chance of of winning or recovering losses by taking pot shots on the basis of a losing trade.

No, Id never in a million years gamble trading financials. My focus was/is crude oil futures, where the leverage is immense, and a gamble could lose you the house... and even your sanity lol. I was always taught as well that you cant win back losses, that money is gone. You have to hit the reset button, clear your mind, and start making new money.

Over the past few days and past few posts on this forum, I can see now I have been mixing the lines between trading and gambling. But now I can differentiate between the two I can make better "trading" decisions.

[Brovashift]

Hi all,

Just practicing with the One Click screen using the Make market to place a trade, and was just wondering;

How would I exit an unmatched trade if a race was about to start e.g. placing a back and lay bet on a horse race but only the lay was matched, and the back remains unmatched going into the race.

Would I just cancel the unmatched back bet and leave the corresponding lay in place... and gamble it?

or Keep the back bet open and take it into the race in the "hope" (for want of a better word) that it gets matched mid race?

or, just back at the latest back price before the off, and accept the loss?

Thanks

Sports trading is very different to fianancials but the question you're asking is much the same. You wouldn't take a gamble on the stock market in a similar scenario, would you?

Gambling can be profitable but it takes years to develop the knowledge, skill and understanding of horses. Absolute zero chance of of winning or recovering losses by taking pot shots on the basis of a losing trade.

I was just thinking about taking the SP. If a horse starts with reasonably low odds and then drifts higher right up until post, is it sometimes beneficial to take the SP anyway when using the one-click screen and Make Market?

Also, how do I know my liability of each trade using this one-click make market method. Is it just a case of;

Stake * (odds - 1)

For each back & lay bet placed?

[Derek27]

Hi all,

Just practicing with the One Click screen using the Make market to place a trade, and was just wondering;

How would I exit an unmatched trade if a race was about to start e.g. placing a back and lay bet on a horse race but only the lay was matched, and the back remains unmatched going into the race.

Would I just cancel the unmatched back bet and leave the corresponding lay in place... and gamble it?

or Keep the back bet open and take it into the race in the "hope" (for want of a better word) that it gets matched mid race?

or, just back at the latest back price before the off, and accept the loss?

Thanks

Sports trading is very different to fianancials but the question you're asking is much the same. You wouldn't take a gamble on the stock market in a similar scenario, would you?

Gambling can be profitable but it takes years to develop the knowledge, skill and understanding of horses. Absolute zero chance of of winning or recovering losses by taking pot shots on the basis of a losing trade.

I was just thinking about taking the SP. If a horse starts with reasonably low odds and then drifts higher right up until post, is it sometimes beneficial to take the SP anyway when using the one-click screen and Make Market?

Also, how do I know my liability of each trade using this one-click make market method. Is it just a case of;

Stake * (odds - 1)

For each back & lay bet placed?

You know you're liability but don't know what odds you'll get so you can't green up, it's just a failsafe if the exchange goes down and better than leaving a trade open.