Hi,
I'm looking to stop trading when I reach a certain level of profit for the day eg £30. But If I've understood the other threads correctly the automation were for the 'WIN' market not the 'PLACE' market. I'm in need of a solution for the 'PLACE' Market
I was wondering with the release of the latest version of BA if this might be easier to achieve now.
I know this has been touched upon before and I know there are arguments of why would you do this, well it's a free world and we are all entitled to our opinions. TIA
Stop Trading When Set Profit Is Reached
I'll try and remember to have a look at this between Xmas and New Year, its due to the way the P/L from place markets are returned I'm not sure how/if they can be used in a Stored Valueicey1962 wrote: ↑Thu Dec 22, 2022 10:30 amHi,
I'm looking to stop trading when I reach a certain level of profit for the day eg £30. But If I've understood the other threads correctly the automation were for the 'WIN' market not the 'PLACE' market. I'm in need of a solution for the 'PLACE' Market
I was wondering with the release of the latest version of BA if this might be easier to achieve now.
I know this has been touched upon before and I know there are arguments of why would you do this, well it's a free world and we are all entitled to our opinions. TIA
We're all entitled to jump from the top floor but people will still ask why you want to do it.
Appreciate your response Derek27, however some may take a different approach and taking a daily profit is the priority.
I have implemented a strategy similar to the Trailing Stop, the fixed profit I calculate once reached is then adjusted upwards with each win, if the profit then drops below the new target profit betting stops ensuring a daily profit, for the past 10 months the profit is more than the losses.
Profit is how much money you’ve made after expenses, while profitability measures how sustainable your ability to generate profits is over time.
By taking smaller profits increases the profitability.
I have implemented a strategy similar to the Trailing Stop, the fixed profit I calculate once reached is then adjusted upwards with each win, if the profit then drops below the new target profit betting stops ensuring a daily profit, for the past 10 months the profit is more than the losses.
Profit is how much money you’ve made after expenses, while profitability measures how sustainable your ability to generate profits is over time.
By taking smaller profits increases the profitability.
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Taking more smaller profits increases the profitability further!bob1957 wrote: ↑Sat Dec 24, 2022 12:16 amAppreciate your response Derek27, however some may take a different approach and taking a daily profit is the priority.
I have implemented a strategy similar to the Trailing Stop, the fixed profit I calculate once reached is then adjusted upwards with each win, if the profit then drops below the new target profit betting stops ensuring a daily profit, for the past 10 months the profit is more than the losses.
Profit is how much money you’ve made after expenses, while profitability measures how sustainable your ability to generate profits is over time.
By taking smaller profits increases the profitability.
OK Thanks Dallas Have a great XmasDallas wrote: ↑Fri Dec 23, 2022 7:52 pmI'll try and remember to have a look at this between Xmas and New Year, its due to the way the P/L from place markets are returned I'm not sure how/if they can be used in a Stored Valueicey1962 wrote: ↑Thu Dec 22, 2022 10:30 amHi,
I'm looking to stop trading when I reach a certain level of profit for the day eg £30. But If I've understood the other threads correctly the automation were for the 'WIN' market not the 'PLACE' market. I'm in need of a solution for the 'PLACE' Market
I was wondering with the release of the latest version of BA if this might be easier to achieve now.
I know this has been touched upon before and I know there are arguments of why would you do this, well it's a free world and we are all entitled to our opinions. TIA
At the moment I'm finding if I let the automation run for all races I usually end up with a loss or very small profit, but have found that there is a certain time period where I can take a bigger profit, still tweaking automation and looking at different ways to make profit. There's always a chance I'll change my mind as I hurtle towards the ground lol
In another similar post someone gave an analogy...if a cash machine was throwing out free money why would you stop when you had £50?
But to me it's more yes I would stop after £50 so I'm not caught by the Police who takes all my loot for the day then sends me to prison and have my bottom raped Lol...............I'll take the £50 thx
That's great that you have consistent profit. That's my aim and glad to hear you have achieved this.bob1957 wrote: ↑Sat Dec 24, 2022 12:16 amAppreciate your response Derek27, however some may take a different approach and taking a daily profit is the priority.
I have implemented a strategy similar to the Trailing Stop, the fixed profit I calculate once reached is then adjusted upwards with each win, if the profit then drops below the new target profit betting stops ensuring a daily profit, for the past 10 months the profit is more than the losses.
Profit is how much money you’ve made after expenses, while profitability measures how sustainable your ability to generate profits is over time.
By taking smaller profits increases the profitability.
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Derek would take £100 and suffer (or enjoy!) the consequences in prison!
- Crazyskier
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I wholeheartedly agree that setting a ''stop-at-a-given-daily-profit'' (or loss) can result in more favourable outcomes more often than leaving something to run ad infinitum.
I use these rules on several of my high-variance automation strategies on the dogs where there are so many events that a stop at X win or loss can really transform results, especially when using a multiple of liability as the stop points.
CS
I use these rules on several of my high-variance automation strategies on the dogs where there are so many events that a stop at X win or loss can really transform results, especially when using a multiple of liability as the stop points.
CS
lol well each to his own........as long as he is happyeatyourgreens wrote: ↑Sat Dec 24, 2022 10:27 amDerek would take £100 and suffer (or enjoy!) the consequences in prison!
That's good to hear I'm not the only one that thinks like this. My automation is on the dogs at the moment. This morning I had a straight run of 11 races then boom one that wiped out most of my profit. I would have been happy with taking the profit from the first few races. At the moment i'm just running the bot to see if any more patterns appear or I can tweak it some moreCrazyskier wrote: ↑Sat Dec 24, 2022 10:29 amI wholeheartedly agree that setting a ''stop-at-a-given-daily-profit'' (or loss) can result in more favourable outcomes more often than leaving something to run ad infinitum.
I use these rules on several of my high-variance automation strategies on the dogs where there are so many events that a stop at X win or loss can really transform results, especially when using a multiple of liability as the stop points.
CS
- ShaunWhite
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I think it was the economist Alan Greenspan that said, "Members were entitled to their own opinions, but not to their own facts."
The thing is you never actually stop, you just carry on betting after a pause determined purely by the rotation of the earth, 'Quitting while you're ahead' is an oxymoron. That combined with thinking the markets behave differently just because you personally are up or down is irrational. The maths was all done about 400 years ago anyway so there's not much point explaining it all again.
The thing is you never actually stop, you just carry on betting after a pause determined purely by the rotation of the earth, 'Quitting while you're ahead' is an oxymoron. That combined with thinking the markets behave differently just because you personally are up or down is irrational. The maths was all done about 400 years ago anyway so there's not much point explaining it all again.
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You don't need to explain anything, Shaun.ShaunWhite wrote: ↑Sat Dec 24, 2022 1:02 pmI think it was the economist Alan Greenspan that said, "Members were entitled to their own opinions, but not to their own facts."
The thing is you never actually stop, you just carry on betting after a pause determined purely by the rotation of the earth, 'Quitting while you're ahead' is an oxymoron. That combined with thinking the markets behave differently just because you personally are up or down is irrational. The maths was all done about 400 years ago anyway so there's not much point explaining it all again.
Please just accept that with a high volume of high variance events, the usage of stop-at-profit and stop-at-loss on a daily basis can mean that the daily totals are better overall than an every event strategy.
Think of it as a peaks and troughs management system. It certainly works for me for automated outcome betting on the doggies, and has for some years now.
CS
bob1957 wrote: ↑Sat Dec 24, 2022 12:16 amAppreciate your response Derek27, however some may take a different approach and taking a daily profit is the priority.
I have implemented a strategy similar to the Trailing Stop, the fixed profit I calculate once reached is then adjusted upwards with each win, if the profit then drops below the new target profit betting stops ensuring a daily profit, for the past 10 months the profit is more than the losses.
Profit is how much money you’ve made after expenses, while profitability measures how sustainable your ability to generate profits is over time.
By taking smaller profits increases the profitability.
I disagree with your definition of profitability. Profitability is the ability to produce profit, which can only be judged by how profitable you are. (Incidentally, Grammarly tried to change "how profitable you are" to "your profitability", so even Grammarly agrees with me ). A strategy that wins £5 every single day is less profitable and has lower profitability than a strategy that wins £3K a year with all the ups and downs that go with it.
Having a losing day is something all traders get used to and doesn't worry about. Changing the way you trade just to finish the day on the up is severely restrictive. As Shaun says it's entirely random. Why start the day at midnight? If you started at 15:00 would it make any difference?
Take a look through your trading records before you started this idea and see if you can find a great result when you were winning, where you would have stopped before it.