Hello, I cannot see how I can place a stop loss position when an event goes in play. Currently I an using Close Trade With Greening when profit goes more than -£5.00 (minus five pounds) based on a £10 stake/liability, so a 50% loss. What I am finding is that while the loss may go more than 50% or -£5 the rule is not firing as the prices are jumping about too fast or the loss bet fires but the price is moving that fast it does not get matched as the price move past it.
I am placing the bets with an offset of 50% profit, which I can easily keep in play and these dutifully get matched as they are in the market, but I cannot see how to do the equivalent for a loss. Essentially I want to be placing the stop as the market goes in play based on the net stake or liability depending up on it being a back or lay.
I am reluctant to use the stop in global settings before the market goes in play as i do not want to get matched for a loss before it goes in play as I am - in this instance - using a laying strategy and quite often the price shortens before the market goes in play but then shoots out when in play.
Any help much appreciated
How can a place a stop loss when event goes in play
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MemphisFlash
- Posts: 2336
- Joined: Fri May 16, 2014 10:12 pm
your too attached to the money and this is preventing you from making rational decisions. your going in play and hoping your bet gets matched. What if it does not get matched, are you prepared to loose your entire stake instead of 50%. Take the emotion away by either creating an automation so that it fires after a particular loss is met, or don't go in play .
Last edited by MemphisFlash on Thu Apr 23, 2020 6:43 am, edited 2 times in total.
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ringo.simpkins
- Posts: 28
- Joined: Thu Oct 17, 2019 6:49 am
That is exactly what I want to do, create an automation that places a close trade for a specific monetary loss, currently I place the lay offset to 50% profit and have a close trade running from the moment I place the lay to 8 mins past the inplay time which monitors when profit is over -£5.00 (50% of the liability). I have run the automation over 600 times now, out of which about 40 or so times have been for a loss , which is fine but the the close has fired about 30% of the time thus loosing the whole liability for about 70% of the time.
Not every run actually places a bet and the profit on a liability of £10 is not massive obviously - between 20p and a quid depending on the offset percentage and the price placed at, I have had around 80 scratches too. However I'd prefer to place the close before the monitored loss is over -£5.00 (whether in running or pre off) so it is in the market before the price has moved in.
If I was manually trading it I'd just place the stop loss in the ladder straight away in the same way I'd place the profitable close position, I just can't figure out how to do the same in guardian. The whole point of this experiment is to go in running, I am sure there must be a way to place the stop at a specific monetary amount - for example as a %age of liability rather than a %age of stake (as in Offset close) , I just cant see how at the moment, particuarly as I do not know what price the lay will be placed at, so can't know what the stop loss stake and price is until the inital lay has been placed and therefore can't know what price a £5.00 loss will be in order to place the stop loss position. But I can assure you, I am certainly not too attached to the money, I am trying tto get Guardian to be as rational as I am about exiting a loosing trade before the whole liability is met.
Just as an example, yesterday it ran on the Aussie markets, on every race, it finished up with a £1.69 profit, with 12 races no bet placed as conditions not met 3 losses where it triggered the the £5 loss rule and 4 losses where the rule did not fire, so the whole liability of £10 was lost. If I was able to place the stop loss at £5 in and not rely on Guardian monitoring the loss and placing the stop loss in a fast moving market then - it is a good assumption - I'd have had £35 total losses rather than £55 total losses and finished with a £21.69 profit - in theory - or more liklihood - as yes, it may be that some stop loss bets may not get matched, but better that they are in the market to get matched rather than not getting placed at all.
Not every run actually places a bet and the profit on a liability of £10 is not massive obviously - between 20p and a quid depending on the offset percentage and the price placed at, I have had around 80 scratches too. However I'd prefer to place the close before the monitored loss is over -£5.00 (whether in running or pre off) so it is in the market before the price has moved in.
If I was manually trading it I'd just place the stop loss in the ladder straight away in the same way I'd place the profitable close position, I just can't figure out how to do the same in guardian. The whole point of this experiment is to go in running, I am sure there must be a way to place the stop at a specific monetary amount - for example as a %age of liability rather than a %age of stake (as in Offset close) , I just cant see how at the moment, particuarly as I do not know what price the lay will be placed at, so can't know what the stop loss stake and price is until the inital lay has been placed and therefore can't know what price a £5.00 loss will be in order to place the stop loss position. But I can assure you, I am certainly not too attached to the money, I am trying tto get Guardian to be as rational as I am about exiting a loosing trade before the whole liability is met.
Just as an example, yesterday it ran on the Aussie markets, on every race, it finished up with a £1.69 profit, with 12 races no bet placed as conditions not met 3 losses where it triggered the the £5 loss rule and 4 losses where the rule did not fire, so the whole liability of £10 was lost. If I was able to place the stop loss at £5 in and not rely on Guardian monitoring the loss and placing the stop loss in a fast moving market then - it is a good assumption - I'd have had £35 total losses rather than £55 total losses and finished with a £21.69 profit - in theory - or more liklihood - as yes, it may be that some stop loss bets may not get matched, but better that they are in the market to get matched rather than not getting placed at all.