Scalping gone wrong

[bbran19]

I can't for the life of me see what I am doing wrong. I am trying scalping using the BetAngel Pro Ladder format without much success. I am only using $2 while I learn. I am Backing High and Laying Low by 1 tick but when I check the the Profit"/Loss for the race I find the bets return $0.

Such as below.



I have placed a bet at 4.2 for $2 for a loss of $2. Placed the LAY Bet at 4.1 for $2 for a profit of $2. Hence no profit. Í have watched and read all the advice I can but can not find what I am doing wrong.

I think I hedged all bet correctly.

Is it because my $2 is too low?

Please excuse my incompetence. Any help appreciated.

[bbran19]

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[TraderFred]

You need to lay £2.04 at 4.1

Back £2 @ 4.2

Lay £2.04 at 4.1.

Then you get trouser the £0.04 whatever happens, or in this case, £0.08 if it wins ( because of the rounding)

[Derek27]

I would guess that you haven't greened-up (hedged). £2 back at 4.2 and £2 lay at 4.1 gives you a free bet of £0.20, which means only if the horse wins you win £6.40 and lose £6.20.

Pressing the green-up button should lay the horse for about £0.05, which would guarantee a small profit.

[Derek27]

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It looks like you got it right with Seven Brothers.

[TraderFred]

Same stake , different odds with seven brothers, still only had a £.08 free bet I think?

It’s the odds x stake that you open at, divided by the odds that you close at, that gives you your closing stake with the greening added.

[deestar]

It helps if you think of scalping/trading as a two stage process.

Stage 1: Back High/Lay Low or vice versa to lock in a profit on one runner. As you have done successfully.

Stage 2: Spread that profit across all runners in the field by greening up. Essentially placing another lay bet in the market to spread the profit.

You are missing the second stage.

Good luck, we've all started somewhere.

[Derek27]

Same stake , different odds with seven brothers, still only had a £.08 free bet I think?

It’s the odds x stake that you open at, divided by the odds that you close at, that gives you your closing stake with the greening added.

Hadn"t noticed it was a free bet that won.

[bbran19]

Thank you all for your help. I am a little confused about the greening process. So the race is about to start. I have finished my pre race trading on Bet Angel ladder and I need to green up. Do I

Greening1.jpg

press the
[*] The green value at point 1
[*] The open scales at point 2 or
[*] the small green box above every runner at point 2?

Many thanks for your time.

[ShaunWhite]

Click the green number just to the right of the scales (2)

[bbran19]

Got it thank you.

[ShawBet]

Have you watched all of the free BetAngel Academy files?
It tells you exactly how to execute a 'scalping' trade in amongst those.
You could also use guardian automation to do a simple back and lay bet (with greening).

[bbran19]

Thank you. I sure have - all of them and loved them. However I was confused by the greening/hedging process. I haven't used the servant for a simple trade and am practising.

[Dallas]

Thank you. I sure have - all of them and loved them. However I was confused by the greening/hedging process. I haven't used the servant for a simple trade and am practising.

There's a three part blog series here which might help, it covers greening etc as part of it
https://www.betfairtradingblog.com/betf ... explained/

[bbran19]

EXCELLENT article Dallas. A great help. Thank you.