Hello all,
I'm looking to set up my first automations, I have some questions,
1. Of the Automations that are shared do any offer a success % since one that works is better than one that doesn't?
2. I'm looking for a Lay the favourite and a Pre off Scalper for horse racing.
3. Is it better to make my own or use one from a seasoned pro?
I warmly welcome all comments and forgive me for my innocence (Month 1 trader)
Regards
Chris
New to Automation
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ShaunWhite
- Posts: 10472
- Joined: Sat Sep 03, 2016 3:42 am
No automation will work on all markets. The saying is that every market has it's strategy and every strategy has its market.
All of the shared automations have potential to make money and they all have the potential to lose it. Where and when you use them is the important thing.
If something worked everywhere, we would all use it, and because of the limited money it would almost instantly stop working. Not everyone can win on an exchange for obvious reasons and that's also the reason people are guarded about the details of what they do. We are all in direct competition with each other, and with every other trader, for the same relatively small amount of money. It's not that profitable strategies shouldn't be shared, it's that logically they can't be shared, otherwise they can instantly stop producing a decent return as more and more people start sharing the spoils.
There's zero difference between a bot made by a 'seasoned' pro and one you make, so the best thing is to think about what you want to do (as you have done in #2) then find an example which does almost what you want and then modify it. Or find two and combine their features. The shared automation files are examples of how to use different features and functions, not ready made cash machines.
It's also very unlikely that you will find a bot that works year in year out, as I explained about competition, edges come and go depending what other people or the markets are doing, you'll need to monitor your results and periodically make adjustments to try and keep it returning a profit.
All of the shared automations have potential to make money and they all have the potential to lose it. Where and when you use them is the important thing.
If something worked everywhere, we would all use it, and because of the limited money it would almost instantly stop working. Not everyone can win on an exchange for obvious reasons and that's also the reason people are guarded about the details of what they do. We are all in direct competition with each other, and with every other trader, for the same relatively small amount of money. It's not that profitable strategies shouldn't be shared, it's that logically they can't be shared, otherwise they can instantly stop producing a decent return as more and more people start sharing the spoils.
There's zero difference between a bot made by a 'seasoned' pro and one you make, so the best thing is to think about what you want to do (as you have done in #2) then find an example which does almost what you want and then modify it. Or find two and combine their features. The shared automation files are examples of how to use different features and functions, not ready made cash machines.
It's also very unlikely that you will find a bot that works year in year out, as I explained about competition, edges come and go depending what other people or the markets are doing, you'll need to monitor your results and periodically make adjustments to try and keep it returning a profit.
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ShaunWhite
- Posts: 10472
- Joined: Sat Sep 03, 2016 3:42 am
...as a crude example of that competition.
Lets say you make a working pre-race scalper, and you find that it works when the amount of lay money offered is <£50.
If we both use the same bot, when the lay money goes <£50. Who's going to get it? We can't both have it.
And if 20 people use your bot?
Lets say you make a working pre-race scalper, and you find that it works when the amount of lay money offered is <£50.
If we both use the same bot, when the lay money goes <£50. Who's going to get it? We can't both have it.
And if 20 people use your bot?
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capitalchrisw
- Posts: 6
- Joined: Thu Nov 07, 2019 9:24 pm
Thanks Shaun
Very nicely explained.
I set one of my own up and tried it in practice mode for a day but nothing seemed to work/trigger
Just now tried it live and bingo, it triggered. It lost but at least I know my method was ok.
Very nicely explained.
I set one of my own up and tried it in practice mode for a day but nothing seemed to work/trigger
Just now tried it live and bingo, it triggered. It lost but at least I know my method was ok.
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ShaunWhite
- Posts: 10472
- Joined: Sat Sep 03, 2016 3:42 am
Being live or practice mode shouldn't affect if your rules fire, but it will probably affect which bets get matched. Stick with getting the practice trades to work (they're cheaper) but be mindful of BF needing you to place a reasonable amount of real bets otherwise your account might be restricted. It's an automated restriction at their end so a quick email explanation and appology from you usually gets it reinstated, if you aren't an habitual abuser.
There’s a thread on here about account misuse and how to avoid restrictions but I'm on my phone and can't find the link. If search for threads containing 'account restriction', authored by Dallas, it should come up.
There’s a thread on here about account misuse and how to avoid restrictions but I'm on my phone and can't find the link. If search for threads containing 'account restriction', authored by Dallas, it should come up.