Closing down trading after reaching a predefined level of profit on the day?

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kinglouie
Posts: 81
Joined: Mon Jul 12, 2010 1:45 pm

Can anyone help with this please?

I trade every day (automated) using the remote VPS service.

Each day I make a profit and after looking back on my results it is evident that it might be more profitable to close all remaining automation/trades once I hit a certain amount of profit on the day.

Some days I make way in excess of what I would class as a target profit, some days I go past it and then come back below it on the close of play (i.e after all markets have traded from my list in Guardian).

So could some advise how I might be able to create a rule that says after I have made £100 profit in a day, all the remaining markets in Guardian are not traded on?

I could make my target profit after 5 races, 12 races, 20 races, there is no fixed number, but what I do want to do is close trades on everything so that I retain that profit each day and generate a regular daily return.

Thanks

KL
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Derek27
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Location: UK

Sorry, can't help you with automation, but I just thought I'd mention that if you stop trading after making £100 in a day, you'll then have the problem of making £100 and losing it the next day. You'd then have to stop trading for two days, until you make a loss on the third day, and so on...
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kinglouie
Posts: 81
Joined: Mon Jul 12, 2010 1:45 pm

Not sure I follow Derek?

I make a profit every day, current issue is I can clearly identify a level of profit I am happy to close my days trading on and effectively lock it in.

Some days I can double/treble that amount, other days I can reach a preferred profit level early on, go past it and then finish on the day still in profit but below a predetermined level I am happy with and it had already reached much earlier in the day.

In essence, I just need to find a way to shut down my days trading once I have made a certain level of profit.
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Dallas
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kinglouie
Posts: 81
Joined: Mon Jul 12, 2010 1:45 pm

Thanks Dallas

I would only need any automation to check my balance at a certain time each day, i.e 1 hour prior to trading my first market, as an example 12.00. After that as soon as my profit marker is reached I just need all other markets in Guardian not to trade via the applied rules/automation.
eightbo
Posts: 2125
Joined: Sun May 17, 2015 8:19 pm
Location: Malta/Germany

It's not currently possible using the Automation Rules Editor.

If you're on the move a lot, I'd suggest installing Google's remote desktop on your machine and your phone. Keep a tab open for https://myaccount.betfair.com/activity/profitandloss on your phone and if you're happy with your P&L at any particular moment in time you can instantly shut off your automation / close down BA whenever you wish via the remote desktop app.

If you're using Excel I'd suggest storing the book profit/loss on a separate sheet for every market you trade e.g. in Range A1:A100, then check if the sum of A1:A100 is less than the daily profit amount you have in mind before you firing any bets.
Bighitch
Posts: 2
Joined: Wed May 02, 2018 8:50 pm
Location: Herts

Hi I'm new to the board and automation.....I cant make a profit every day yet so well done! It there no way you can use a variable to store a running total of you achievement per race/event and then when you have hit your target set a flag that says dont trade any more? Are you using the autonation tool in BA or excel linked?
LinusP
Posts: 1847
Joined: Mon Jul 02, 2012 10:45 pm

Why do you think your edge is impacted by the profit it has made in the current day?

https://churchofbetting.com/2018/07/02/ ... ts-part-4/

(Read part 5 - Reference Points)

I strongly recommend the book as well.
Bighitch
Posts: 2
Joined: Wed May 02, 2018 8:50 pm
Location: Herts

follow on to my last post....if you are running excel then you are able to use the green up P&L and then put that in to a total at the inplay of each race which would give you a running total for the day to the point of next race. Just a suggestion hope it helps.
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Derek27
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Location: UK

kinglouie wrote:
Mon Mar 25, 2019 10:56 am
Not sure I follow Derek?

I make a profit every day,
If you've never had a losing day I take my hat off to you!

What I was getting at is why stop for the day? Why not the hour or the week?

It's rather like the Martingale where instead of chasing losses you're chasing lack of profit, trading markets you wouldn't be trading if you won previously.
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kinglouie
Posts: 81
Joined: Mon Jul 12, 2010 1:45 pm

I'm not chasing a lack of profit, just trying to maximise (in my view) the opportunity to make a consistent level of profit.

The way I trade certain markets can lead to good profits early in the day, which I would be happy to bank and shut down for the day. Alternatively, the profit may come later on, in which case I continue trading until that occurs and then bank it and shut down for the day.

Some days I can trade the selected markets and make a profit without hitting a preferred target, other days my records show I have gone past it only to finish somewhere in between break even and a preferred target, hence my original query of closing all trades once a certain profit has been reached on the day.

On review, over 85% of my trading days I will reach or exceed a preferred target, I just need to identify a way to close down without having to keep checking my markets.
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ShaunWhite
Posts: 7863
Joined: Sat Sep 03, 2016 3:42 am

If you anonamise your results data and remove the date & time, can you still see where your days start and end?

I do think you're chasing the unobtainable though, trying to predict when the loses will come. 'Consistant profit' is a luxury that natural varience won't permit unless you're turning over a large number of trades per day, probbaly numbering in the low thousands.

It also seems strange that when the markets are suiting you and you're making profit. you want to stop. And yet when they don't suit you and you're making a loss, you want to carry on trying to make a profit.
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Derek27
Posts: 16070
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

If you're guaranteed a profit every day and it's just a question of whether it comes early or late in the day then perhaps you are on the right track, in trying to shut down trading once you've hit it.

I was just talking from my perspective (probably most trader's perspective) where we encounter good days, not so good days and losing days, which can be fairly random.

Good luck with keeping up your profitable run and automating it.
gethin99
Posts: 3
Joined: Sun Jan 31, 2021 11:34 am

Not sure if this helps but i do it with 2 "rules"
at 00:01 (use your own time) - set a rule name of "bank" for event = balance
set another rule of "target" for event = "bank" + £x.xx

Then in the conditions for your bets use "if balance is < (another stored value) 'target"

Obviously it has the problem of if games/races etc overlap it may still place bets, but it works for me
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Realrocknrolla
Posts: 1773
Joined: Fri Jun 05, 2020 7:15 pm

Derek27 wrote:
Mon Mar 25, 2019 11:48 pm
kinglouie wrote:
Mon Mar 25, 2019 10:56 am
Not sure I follow Derek?

I make a profit every day,
If you've never had a losing day I take my hat off to you!

What I was getting at is why stop for the day? Why not the hour or the week?

It's rather like the Martingale where instead of chasing losses you're chasing lack of profit, trading markets you wouldn't be trading if you won previously.
I agree. Could miss out on a beauty of a day.
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