Offset Bet with Green and Stop

[LayField]

Hi,

I am wanting to create a bot that places a bet (either back or lay) offsets the bet for a profit, but also set a stop loss a certain amount of ticks away.

I posted a similar question in this thread but didn't get much joy in the way of seeing how to actually do this:
viewtopic.php?f=17&t=19785

I have tried an automation today (straight forward Place a back bet rule with the parameters to offset with green and stop) but it doesn't seemed to have worked, and I don't understand the relevance of the "Stop Trigger (ticks)" part of it. When I have ran the bot today I have noticed it REMOVES my original offset bet to place the stop loss bet in which I don't want either.

Basically what I am wanting to automate is this (using some made up prices for examples)
1. Place a back bet of say £10 at odds of 5.5
2. Place an offset lay bet at odds of 5 in the hopes of profiting between the above
3. If the price goes against me (to say, 6) it then cashes me out (but from above it seems to be when the price goes near this where I've set the stop trigger, it then REMOVES my lay bet at 5 which I don't want, I only want to remove that if it actually reaches 6 and just closes my position entirely)

Is it possible to automate the above? I think I'm missing something so any help would be appreciated.

Thankyou

[Jukebox]

With a health warning that using stops that only trigger at the stop price run the danger of the price slipping past before the stop can be matched- set both your stop and trigger to the same number of ticks.

Alternatively, if you are trading manually you can right click on the ladder on the lay money at 6.0 and you will see it turns yellow - this is a stop

[Dallas]

Here is an example
viewtopic.php?f=47&t=11746


" I have tried an automation today (straight forward Place a back bet rule with the parameters to offset with green and stop) but it doesn't seemed to have worked, and I don't understand the relevance of the "Stop Trigger (ticks)" part of it. When I have ran the bot today I have noticed it REMOVES my original offset bet to place the stop loss bet in which I don't want either."

If a stop is triggered then the offset bet has to be cancelled, there would be no point in leaving it otherwise if that was matched after a stop then it would open a new position.

[LayField]

Dallas/Jukebox
Thanks for the clarity, I've read the article and that makes sense now.

That being said, in regards to The bit you've quoted of me asking if I can keep the original order in, would I be able to (again using example prices)

Place a £10 back bet at 5.5 ofsetting a lay bet at 5.
Setting the stop trigger ticks at 3 ticks and placing at 5 ticks, so if it reaches 5.8 to place it at 6.
BUT if it reaches 5.8, I don't want my lay bet at 5 to be cancelled until it actually goes to 6. So the stop would be in place after hitting 5.8 but I don't want to remove just incase it reverses from here or at 5.9. Would this setting be possible?

Thanks

[Dallas]

No, Once the stop triggers at 5.8 and is placed at 6.0 it will be matched at the best price so you will be stopped out, therefore, the offset has to be cancelled.
If the price suddenly spiked up to 7.0 and triggered your stop at 6.0 meaning it's now sat there unmatched the offset is still cancelled because the stop will be matched first as the price comes back down

If it wasn't matched there is the risk someone places a huge order ar 4.0 and both your stop and offset get matched at the same time you'll now be left with an open position of a lay bet at 5.0

[LayField]

Thanks Dallas,

Sorry to be a pain, but I have another idea to get round this (to keep the original offset bet while avoiding the risk of the price crashing through a stop)
Would it be possible to set up a rule that looked at the odds AND the red out value (which I could calculate) and combine them into seperate rules depending on the odds?
For example, lets say I choose to only trade selections that are bigger than odds of 4 but less than odds of 10, and I always use a £20 stake.

So I could calculate roughly what the maximum red out would be between bets placed with an offset between 4 and 5, 5 and 6, 6 and 7 etc. And then set a rule that would cash me out if it went passed that.
So for example rules that basically said:
If 3<odds<4 AND cash out loss £3> cash out
If 4<odds<5 AND cash out loss £5> cash out

would this combination of rules be possible using automation?

[Dallas]

If you want the offset bet kept even if your stop has been triggered it would be easier just to place another lay bet afterwards.

Then if matched you'll have a straight lay bet on the selection

[LayField]

In the general sense though, would it be possible to set up a rule like the one described above where the rule checks the odds and also the red cash out value and then cashes out?

Thanks

[Jukebox]

You can use the Close Trade Profit Condition - with greening ticked, in a Close Trade on Selection Rule

If you intend to use automatic stops of any kind in an event that might be suspended unexpectedly - such as pre race (when they remove a selection) or in play football (for any old reason) be prepared for the loss to be instantly and cruelly applied or worse.

[LayField]

Any idea how I would combine this with the above conditions so its different for whether the original back odds are between 3-4, 4-5 etc? Ideally to be combined in one automation so it doesn't matter what selection it is placed on, it will "read" the odds according to the condition and cash out whenever its set at

Thanks

[Jukebox]

You can always write several rules, each with its own stake and pricing conditions - with safeguard conditions on matched and open bets to prevent a second rule from betting if one has already made the bet in case of price overlaps. Or a more simple method would be to use the By Book % staking option which you're likely to find keeps things in the right proportions for you no matter what the price.