Help setting up my first automation bot

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ija34
Posts: 92
Joined: Mon Jun 27, 2022 7:51 pm

Hey all,

Would someone be able to offer help setting up my first automation bot? Attempted it myself but seem to get it wrong? Please note this is just a test for me and not actually expecting this system to work permanently. The steps I need to program are below...
  • 1. Place a back bet at £10 on the favourite at one tick above best market price. Cancel unmatched bet after 10 seconds and reattempt placing back bet until matched.
    2. Place a lay bet at 1 tick below best market price to guarantee a profit on this selection.
    3. Green up all selections. I'm aiming for 10% profit plus betfair commission so 18% as my commission is 8% so I would need to aim for £1.80 if any runner wins.
    4. Red up all selection if trade price is equal to or less than 25% of the profit price (£0.45)
    5. Close trade if either red or green criteria is reached
I've tried setting this up myself and had problems with multiple back bets being placed which I fixed then had problems with my one back bet not being matched and the cancel unmatched bet rule didn't trigger and then it seemed to close trade with -£0.10 on the favourite and £0 on the remaining selections.

Any help would be appreciated, thanks.
andy28
Posts: 343
Joined: Sat Jan 30, 2021 12:06 am
Location: NZ

Welcome, there are plenty of files to get off the forums

viewforum.php?f=43

I also suggest you watch the academy videos as they will show you how to do a lot of what you want to do.
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ShaunWhite
Posts: 9731
Joined: Sat Sep 03, 2016 3:42 am

How come you're on 8%? Most people choose 2% because the money you save is worth more than the rewards. Then you'll only need a 12% move which is 33% less than the 18% move and easier to get.
MAGTRADEUK
Posts: 144
Joined: Sun May 10, 2020 12:55 pm

Anywhere that has betdaq automation files .... the ones at link given are for befair and dont / wont download / open in betdaq?
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Realrocknrolla
Posts: 1903
Joined: Fri Jun 05, 2020 7:15 pm

ShaunWhite wrote:
Tue Jun 28, 2022 10:35 am
How come you're on 8%? Most people choose 2% because the money you save is worth more than the rewards. Then you'll only need a 12% move which is 33% less than the 18% move and easier to get.
I said that out loud before scrolling down and seeing this reply.
ija34
Posts: 92
Joined: Mon Jun 27, 2022 7:51 pm

ShaunWhite wrote:
Tue Jun 28, 2022 10:35 am
How come you're on 8%? Most people choose 2% because the money you save is worth more than the rewards. Then you'll only need a 12% move which is 33% less than the 18% move and easier to get.
You've just reminded me, I need to change that. It's because I used to place a lot of small bets on horse racing and back then I received £50 free bets a month for 8% commission but as I've not been betting in a while it's dropped to £10. Only just getting into trading so I'll switch it back to 2%.
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Derek27
Posts: 23476
Joined: Wed Aug 30, 2017 11:44 am
Location: UK

ija34 wrote:
Mon Jun 27, 2022 8:06 pm
Hey all,

Would someone be able to offer help setting up my first automation bot? Attempted it myself but seem to get it wrong? Please note this is just a test for me and not actually expecting this system to work permanently. The steps I need to program are below...
  • 1. Place a back bet at £10 on the favourite at one tick above best market price. Cancel unmatched bet after 10 seconds and reattempt placing back bet until matched.
    2. Place a lay bet at 1 tick below best market price to guarantee a profit on this selection.
    3. Green up all selections. I'm aiming for 10% profit plus betfair commission so 18% as my commission is 8% so I would need to aim for £1.80 if any runner wins.
    4. Red up all selection if trade price is equal to or less than 25% of the profit price (£0.45)
    5. Close trade if either red or green criteria is reached
I've tried setting this up myself and had problems with multiple back bets being placed which I fixed then had problems with my one back bet not being matched and the cancel unmatched bet rule didn't trigger and then it seemed to close trade with -£0.10 on the favourite and £0 on the remaining selections.

Any help would be appreciated, thanks.
Just a couple of observations. Placing a lay bet 1 tick below best market price may not guarantee a profit if the price moved. You might find it easier to use an offset bet to automatically close to the desired number of ticks.

If you want a 10% profit, taking 8% commission into account would require an additional 8% of 10%, 10.8% in total rather than 18%. But as I said on the other thread, it's not a good idea to gear your strategy around your desired profits. There would be many occasions where you close for a loss when you could have taken a 6% profit.

In fact, 10% on many trades is aiming quite high. Many traders make sub 1% profits.
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Dallas
Posts: 22674
Joined: Sun Aug 09, 2015 10:57 pm
Location: Working From Home

ija34 wrote:
Mon Jun 27, 2022 8:06 pm
Hey all,

Would someone be able to offer help setting up my first automation bot? Attempted it myself but seem to get it wrong? Please note this is just a test for me and not actually expecting this system to work permanently. The steps I need to program are below...
  • 1. Place a back bet at £10 on the favourite at one tick above best market price. Cancel unmatched bet after 10 seconds and reattempt placing back bet until matched.
    2. Place a lay bet at 1 tick below best market price to guarantee a profit on this selection.
    3. Green up all selections. I'm aiming for 10% profit plus betfair commission so 18% as my commission is 8% so I would need to aim for £1.80 if any runner wins.
    4. Red up all selection if trade price is equal to or less than 25% of the profit price (£0.45)
    5. Close trade if either red or green criteria is reached
I've tried setting this up myself and had problems with multiple back bets being placed which I fixed then had problems with my one back bet not being matched and the cancel unmatched bet rule didn't trigger and then it seemed to close trade with -£0.10 on the favourite and £0 on the remaining selections.

Any help would be appreciated, thanks.
What you've asked for is essentially a 'Make Market' bot like this one below
viewtopic.php?f=56&t=11305

And to green/red up at your target P/L's you just need to copy these rules into it
viewtopic.php?f=56&t=11407

You'll then need to add a condition to your original back/lay rules to stop them triggering if your P/L target is met, details on that are here
viewtopic.php?f=47&t=11656

and if you are not sure how/where to click to copy rules from one file to another see this post
viewtopic.php?f=37&t=13568
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