a bit confused

[Jencis1987]

Hi Guys

It is not a first time that it happens, so finaly i need some advice from you...

I pushed the stop loss before the event to cover up if something happens on a wrong side.. after the start odds reached the stop loss, i heard the tick sound but it didn't get matched and in the end i went in a full loss..

So 1st question: Why is that?
2nd: Is there possible to set the stop loss to next odds level if it doesn't match on my previous? Like i putted the stop loss on 2,1 and if it doesn't matches then it matches on a next available price like 2,2 example.


And one more questions.. Is there possible to set automated stop loss after i made my bet (On a concrete money not on a ticks)???


Thanks thanks & thanks

and

Huge Income to everyone

[CaerMyrddin]

If you are using the stop loss after a suspension (IR) it simply doesn't work as there won't be money to be matched in the price you set your trigger to.

Maybe this is it?

[JollyGreen]

Like CaerMyrddin I am sure it is because you are letting the market turn in play. Did you have a position waiting to be filled i.e. was your initial position matched and you were just waiting to get your closing position filled?

If you are trading that close to the off then you are better using "Take SP" to fulfil your closing position. Perhaps you are better off closing out slightly earlier to prevent this type of loss until you get more experience?

[Jencis1987]

Hi

Thanks for helping out..

The Situation:

1)Placed BACK bet on 2,4 before the start.
2)Race turned in play and i set LAY a stop loss manually on 4. (Of course i placed stop loss when on "4" was money)
3)Market turned very fast in the end as it is usual and then i heard the tick sound of my stop loss but it didn't get matched. (Probably the reason is that there wasn't money no more on "4" as it was when i putted just little after start).

So...... I should check all the time my stop loss is there any money on it? OR there is some automated system that will accept the next available odds on stop loss like example: ( "5" if there is some money on it).

Thanks Guys!!!

[LeTiss]

Jencis

I'd strongly advise you not to use stop losses 'in play'

The markets will always have temporary gaps and this will result in a string of disasters for you. Having offsetting is absolutely fine, but managing potential losses needs to be done manually once a market is live

[JollyGreen]

If you backed a horse at 2.4, the market went in play and you placed a stop at 4 then I assume the horse was slow out of the stalls or perhaps fell? You are trying to recover money by offering 4 but that will not get matched if someone else is offering 8 for example (mistakes from fat finger or idiots excluded)

Once the market turns in play you are relying on the performance of the runners. A lot of people use this tactic on a front runner but if they fall or don't lead then you have to sit and suffer with your full stake at risk.

A lot of people prefer to lay first because unless the horse gets to the front and/or runs like a dream the price will drift. Obviously it is mental to do this in 5f 6f races because it's over too quickly. To be honest it can be mental to do it in any race unless you have spent a fair amount of time studying the form etc in which case you are moving away from trading.

[Jencis1987]

Finally.... Can someone answer to my question?

Is it possible to stop my losses automatically to the next available price if my first doesn't gets matched???????

If "Yes" then how?
If "NO" then "NO"



Thanks for response to everyone.

[JollyGreen]

The only tentative suggestion I can offer is as follows.

When you set your stop you may need to use the place function further away from the actual trigger.

For example.

You place a bet on a front runner at 2.40 and set your stop at 10 ticks. Try setting the "place stop" at 16 for example. I cannot tell you how high because I don't know how much you are prepared to risk.

What you should find is that if your stop triggers but you miss the price you should have a greater chance of getting it matched with the higher "place at". Likewise if there is money available then you are likely to get matched at the lower value.

It's risky but this may work

PS The stop at 10 is just an example and you need to set this to your desired amount.

[Jencis1987]

Thanks JollyGreen

Finally the answer that is very close to i wanted to hear.

But one more little thing if there isn't money on those exact 10 ticks? Then my stop loss will accept best price in those next 6 ticks?

From your example

[JollyGreen]

Yes, you should get matched at whatever is available but it will need testing as there is no guarantee. You must remember that if a catastrophe befalls the horse e.g. Falls, drops jockey, injured etc. Then you will probably not get a penny matched. -assuming you backed first.

I would try it for yourself and tinker with the difference between the amount of ticks that triggers the stop and the ticks difference between where you place the closing order.

[Jencis1987]

So to do that i need to put:

"Offset bet and trailing stop"
then stop trigger (10 ticks)
place at (16) ticks

right?????

or which of those functions i should use?

Can i use two different things in one in-play race: like for one horse i don't need this double stop loss
i can do it manually
for other i must use this system because i can't do this manually?

And the last question:
If i put manual stop loss then this automatically settled "Offset bet and trailing stop" still works or no?

[JollyGreen]

I think you may need to ask some of the excel gurus on here if they can help you with a spreadsheet that can place these bet/offset offers. They may be able to help you.

I only play in running if I have studied a race or have spotted something I like the look of. I do all of this manually.