Bets going in play??

[Bladesmanstan]

Just had abit of a shock, thought i was missing some money from my acc. So i decided to go and view my P/L on betfair to find a -£111 trade on the 14.35 at fairy.

I have veiwed my logs and i knew i made a slight loss on the race but never £111.

It seems to me 2 lay bets have gone in play and then got matched and the horse as gone on to win. Should this happen? or has it happened to anyone before.

My entire log for the race.

08/06/2016 14:28:54: Market changed to Fairy 8th Jun - 14:35 6f Hcap
08/06/2016 14:30:33: £ 20.00 Lay bet placed on Blairmayne at 3.7. Entirely unmatched when it initially reached the market. Ref: 69576491461
08/06/2016 14:30:34: £ 20.00 Lay bet placed on Blairmayne at 3.65. Entirely unmatched when it initially reached the market. Ref: 69576492150
08/06/2016 14:30:35: £ 20.00 Lay bet placed on Blairmayne at 3.6. Entirely unmatched when it initially reached the market. Ref: 69576493021
08/06/2016 14:30:36: £ 20.00 Lay bet placed on Blairmayne at 3.75. Entirely unmatched when it initially reached the market. Ref: 69576493976
08/06/2016 14:30:42: £ 20.00 Back bet placed on Blairmayne at 4.9. Entirely unmatched when it initially reached the market. Ref: 69576499448
08/06/2016 14:30:42: £ 20.00 Back bet placed on Blairmayne at 4.8. Entirely unmatched when it initially reached the market. Ref: 69576499826
08/06/2016 14:30:43: £ 20.00 Back bet placed on Blairmayne at 4.7. Entirely unmatched when it initially reached the market. Ref: 69576500154
08/06/2016 14:31:02: Cancelling bets 69576493021
08/06/2016 14:33:29: £ 50.00 Lay bet placed on Blairmayne at 4.5. Fully matched at 4.5. Ref: 69576644098
08/06/2016 14:33:30: Unable to place bet on Blairmayne at 4.5. The order cannot be processed as your betfair account does not have enough funds (or has exceeded its exposure limit).
08/06/2016 14:33:39: £ 50.00 Lay bet placed on Blairmayne at 4.3. Entirely unmatched when it initially reached the market. Ref: 69576653725
08/06/2016 14:33:54: Cancelling bets 69576499448
08/06/2016 14:34:12: £ 10.00 Back bet placed on Blairmayne at 4.5. Entirely unmatched when it initially reached the market. Ref: 69576685521
08/06/2016 14:34:12: £ 10.00 Back bet placed on Blairmayne at 4.5. Entirely unmatched when it initially reached the market. Ref: 69576685685
08/06/2016 14:34:13: £ 10.00 Back bet placed on Blairmayne at 4.6. Entirely unmatched when it initially reached the market. Ref: 69576686550
08/06/2016 14:34:13: £ 10.00 Back bet placed on Blairmayne at 4.6. Entirely unmatched when it initially reached the market. Ref: 69576686711
08/06/2016 14:34:19: £ 10.00 Back bet placed on Blairmayne at 4.4. Entirely unmatched when it initially reached the market. Ref: 69576692196
08/06/2016 14:34:19: £ 10.00 Back bet placed on Blairmayne at 4.4. Entirely unmatched when it initially reached the market. Ref: 69576692363
08/06/2016 14:35:03: Placed closure bet on Blairmayne by Backing 82.38 at 4.2
08/06/2016 14:35:04: Cancelling bets 69576692196 69576692363
08/06/2016 14:35:04: Cancelling bets 69576685521 69576685685
08/06/2016 14:35:05: Cancelling bets 69576686550 69576686711
08/06/2016 14:35:06: Cancelling bets 69576499826

The 2 enties in red appear to be the ones in question cos they appear in My bets on betfair acc. I never selected Keep in play or anything. Help or advice much appreciated

Lee

[jimibt]

08/06/2016 14:33:30: Unable to place bet on Blairmayne at 4.5. The order cannot be processed as your betfair account does not have enough funds (or has exceeded its exposure limit).

I think this line was the issue tbh. Something running needed to place a lay bet and due to no funds (or you had your exposure limit set in BA below the threshold that was required), it was unable to do so. you should pick your way thro that log file in detail i think as you may find that this issue caused something else to occur. That said, if those were the only tow on your betfair account, then it is strange

[Bladesmanstan]

Think that was because i didnt have enough money in my acc to place another lay bet at that time. I placed a few outside of the prices to try and gain a decent queue position if the price came tumbling in.

When i place my closure bet its cancelled all other bets except the 2 highlighted in red and i have not got a clue why. I Also dont know why the bets went in play either.

I'm pretty knew to all this and only using small stakes and usually come out about even while i'm dipping my toes in. This has thrown a big spanner in the works and is very off putting. If i'd done a -£111 then i'd admit to being a pudding and take it on the chin. I just moved onto the next few markets and carried on trading and didnt know of this until i saw the balance in the corner of the screen and realised something was amiss.

[Dallas]

As Jimibt has pointed out it looks like you could'nt or did'nt close all your open bets rather than it failed to cancel unmatched bets that where then taken in-play.
I appreciate its frustrating but things like this are all part of trading and best off learning now rather than later when even larger sums are involved.
Best advice would be to keep your balance displayed at all times and get into the habit of checking it once all trades have been closed to make sure there is no stray bets anywhere.

Also it may not of helped this time but you could run some basic automation in the back ground as a fail safe which will close,green,cancel or take SP on any unmatched bets at the off

[Bladesmanstan]

I might be missing something, I placed a closure bet to close all positions. Which it as execpt for 2. Bets only go in play if selected which it clearly as not been selected as per the log.

Fraustrating is not the word at the minute Dallas lol. But yeah imagine if was a few hundred quid. I'd be suicidal!!

[Tanden]

Another way that this type of thing can happen is sometimes, a split second before Betfair suspends the market and then turns it in play, the price spikes down (or up) as a large bet enters the market. Could even be someone on course taking advantage of a good start before the market is suspended.

You also had a lay bet at 3.65 (ref 69576492150) and I don't see a log entry saying it was cancelled so it appears that one was cancelled at in play which tends to support the others being matched just before.

I've had this happen a few times thinking my remaining unmatched bets were too far away from the price action to be in danger of being matched. You just have to be careful leaving bets in the market close to the off.

Someone who records data might be able to confirm if the price did spike down.

Otherwise, if you really want to get to the bottom of it, ring Betfair and they should be able to tell you exactly when the bets were matched.

[Bladesmanstan]

Thanks for all the feedback. It does appear ive made a noob error lol.

Like you've just said it looks ive left the bets on the ladder and switch to the next market and a spike as took them just before the off. This as been confirmed via betfair themselves with the times they were matched. It appears i closed my position on the profit/loss section on the ladder and never clicked the green/hedgeup figure at the top of the screen, which would have cancelled all unmatched bets. Lesson well and truely learnt. I hope!

Think i'm going to turn my stake per tick down alittle bit more while i still get used to the software and markets etc.

This leads me to my next question, which i hope someone with greater exp will help me with.

Is it possible to have an Automation that greens/cancels all bets at say 1sec to advertised start time or as it gets suspended?

Being new to this software i'm not sure how to set it up. A point in the right direction would be much appreciated.

Thanks Lee

[Dallas]

Glad you got it cleared up

Is it possible to have an Automation that greens/cancels all bets at say 1sec to advertised start time or as it gets suspended?

Being new to this software i'm not sure how to set it up. A point in the right direction would be much appreciated.

Thanks Lee

Try the link third from bottom in the opening post, there is one ot two others you may also find useful as well
viewtopic.php?f=43&t=11238

[Bladesmanstan]

Thanks Dallas. Will try this out later on.