How to Close a Trade or Green Up

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Dallas
Posts: 18898
Joined: Sun Aug 09, 2015 10:57 pm
Location: Working From Home

For this example we are going to trade a football match, we started the trade with a opening back bet on the draw at odds of 3.25 for £100 just before K.O as we expect these odds to shorten during the game and therefore be able to place a exit lay bet at lower odds and complete a profitable trade.

(Should we do nothing and just leave our back bet as a regular straight gambling bet if the match ends in a draw we win £225 but if either of the teams win we lose our £100).

Once a position has been opened it can be exited at anytime before the end of the game.

When we place our exit bet we have 2 options on how we do this.

A) "Close the trade" This will leave all the profit or loss on just that one selection and their will be zero on all other selections.

B) "Green up"/"Hedge up"/"Cash Out" (all these mean the same thing) This is spreading any profit or loss equally across all sections of the market so we win a equal amount regardless of the outcome of the match.
(This is the option you should get used to doing and which is mostly used by the pro's).

It does not matter which Bet Angel screen your trading from weather its the One-Click, Manual or Ladder screen you are able to do either option with just a single mouse click.

Using the One-Click or Manual Bet Screens
(Grid layout)

If we first look at option (A) from above "Close the Trade"

In the Top image we can see our current position is still the same as when we placed the back bet before the K.O, the figures below the selections names are showing the profit or loss depending on the result of the game.

If we look at the "Trade profit" column its currently showing Zero for each team and £43.00 for the draw - by clicking on this figure Bet Angel will place the required exit bet amount at the current lay odds which you can see are @ 2.82 and "Close the trade" for us
The trade is now complete - the figures under the selection names will then change to £0.00, £0.00 & £43.00 indicating your new position depending on the end result of the game.

We now have whats called a "risk free bet" as you cant lose anything now but can still profit £43.00 if the match ends in a draw.

The money originally used to place the back bet will of now been reallocated to your Betfair balance and you can go ahead and re-use the same funds for another trade without having to wait for the game to end.

If we now look at option (B) from above "Green Up"

In the Bottom image the figures below the selection names are still the same and show our positions at the end of the game should we do nothing.

This time we now have the "Green" box ticked above the "Trade profit" column and its showing £13.64 - by clicking on this figure Bet Angel will calculate and place the required exit bet amount at the current lay odds and "Green up" for us.

The figures under the selection names will then all change to £13.64 indicating no matter what the end result we would have this same equal amount profit.

Again the trade is now complete and the money originally used to place the back bet will of now been reallocated to your Betfair balance and you can go ahead and re-use the same funds for another trade without having to wait for the game to end.

To see a video demonstrating this please click on the following link
https://www.youtube.com/watch?v=MFuBq6SOFQg
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User avatar
Dallas
Posts: 18898
Joined: Sun Aug 09, 2015 10:57 pm
Location: Working From Home

Using the Ladder Screen

Just like on the grid screens we can still see our current position by looking at the figures next to each of the selections names at the top of there respective ladders and as before should we do nothing and just leave our opening back bet as a regular straight gambling bet if the match ends in a draw we win £225 but if either of the teams win we lose our £100

We can still do either of the two options detailed in the above post using the ladder screen except that instead of just being able to click on the figure to exit instantly at the current trading price we can also place our exit bet at any other odds if we where to anticipate that the price would continue to move and will eventually trade at those odds so want our money there waiting.

If we look at option (A) again "Close the Trade" (Top Image Below)

You can see we can click on the value (£39.00) which is aligned to the current lay odds of 2.86 and this will place the required amount as a closing bet to exit the trade immediately for that profit amount - The figures next to the selections names will then change to £0, £0 & £39.00 once again showing that we now have a "risk free no lose" bet but a £39.00 profit if the match ends in a Draw.

Instead of closing the trade instantly we think the odds will keep on falling so decide to place our exit bet at the lower odds of 2.70 by clicking on the profit figure aligned with those odds (£55.00) - Bet Angel then calculates the stake required to exit at these odds to achieve that profit amount and places the bet ready to be matched when/if the price reaches these odds.

You could cancel and choose different odds to exit at anytime if you feel things are changing and the odds may not reach these odds anymore.

On the ladder screen you switch between the "Close Trade" and "Green-Up" options by clicking on the Scales Icon (middle image below)

If we now look at option (B) again "Green-Up" (Bottom Image)

Here we can exit immediately by placing a lay at odds of 2.86 which by clicking on the corresponding £13.64 figure Bet Angel will calculate the amount of the lay bet required to place at these odds to "Green-Up" and achieve that equal profit across all the selections.

If we believe the odds will continue to drop for example to 2.70 by clicking on the figure shown there (£20.37) Bet Angel calculates and places the lay stake required to "Green-Up" at these odds when/if the price reaches these odds.

You can of course also cancel this at anytime and choose different odds to Green-Up at if you feel things are changing and the odds may not reach these odds anymore.

To see some video's demonstrating this please click on the following links
https://www.youtube.com/watch?v=23YB5N2nIeM
https://www.youtube.com/watch?v=C1x_5vJytIM
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