Placing a bet based on % of red or green

[mattcostasking]

I'm trying to work out how to automate placing a bet when a certain % of the profit or less has been made.

e.g A back bet has already been matched, now I want the 2nd bet to be placed when the green/red reaches 50% of the total potential profit/loss?

Any help greatly appreciated.

[firlandsfarm]

Hi Matt, I think you can render your strategy down to a B2L to cover the profit and having a stop on your original bet to create the loss. So maybe a back bet with greening at 50% and a Stop placed to equate to a red of 50%. The problem with this simplification is how to get Offsets and Stops to bridge the start of the race if the original bet was placed pre-race and you are looking for your exits to fire in-race.

If the original bet is placed just after the start then Offset and Stops will work but if placed before the race the Offset can be maintained in-race by using a Keep rule but the Stop would be more troublesome because the market would snap up a Stop bet placed too early with a smug expression of "aren't I wonderful, I matched your bet at more favourable odds"!

So I think that to place a back bet with a Greening offset of 50% set as Keep will take care of the profit and have a Red lay bet rule poised to trigger when the Lay price rises to a certain level. But as you will be in-race I suggest you leave a larger trigger/place gap than normal so maybe trigger the Res lay at 45% loss but place the bet at 55% loss. Remember if the market price is lower than your lay bet the market will snap it up but if higher on a drifting runner

Of course once a Red or Green bet has been matched the other will need to be cancelled.

Hope that helps or maybe attracts other suggestions, I would be keen to learn re the placing of the Stop bet across the off.

[mattcostasking]

Hi Matt, I think you can render your strategy down to a B2L to cover the profit and having a stop on your original bet to create the loss. So maybe a back bet with greening at 50% and a Stop placed to equate to a red of 50%. The problem with this simplification is how to get Offsets and Stops to bridge the start of the race if the original bet was placed pre-race and you are looking for your exits to fire in-race.

If the original bet is placed just after the start then Offset and Stops will work but if placed before the race the Offset can be maintained in-race by using a Keep rule but the Stop would be more troublesome because the market would snap up a Stop bet placed too early with a smug expression of "aren't I wonderful, I matched your bet at more favourable odds"!

So I think that to place a back bet with a Greening offset of 50% set as Keep will take care of the profit and have a Red lay bet rule poised to trigger when the Lay price rises to a certain level. But as you will be in-race I suggest you leave a larger trigger/place gap than normal so maybe trigger the Res lay at 45% loss but place the bet at 55% loss. Remember if the market price is lower than your lay bet the market will snap it up but if higher on a drifting runner

Of course once a Red or Green bet has been matched the other will need to be cancelled.

Hope that helps or maybe attracts other suggestions, I would be keen to learn re the placing of the Stop bet across the off.

Hi, thanks for the reply.

For what I'm trying to do I don't an offset bet will be effective. I only want the second bet to be placed if a certain % of profit or loss has been made. This is for the Tennis markets where there are situations as the match progresses where a certain price is achieved before a certain score is achieved. So I'm trying to have the bet placed if one is achieved before the other. I that makes sense.

I pretty sure it can be done with Stored Values but still trying to work it out.

[Dallas]

I'm trying to work out how to automate placing a bet when a certain % of the profit or less has been made.

e.g A back bet has already been matched, now I want the 2nd bet to be placed when the green/red reaches 50% of the total potential profit/loss?

Any help greatly appreciated.

You need to continually trigger a rule to store the value of the selections P/L

You can then test this with a 'Close trade on selection with greening' rule with a 'close trade profit' condition

There's a very similar example here which checks your stake used and greens up to a percentage of that, so would only require a minor tweak to the value its storing
viewtopic.php?f=58&t=20089

[mattcostasking]

I'm trying to work out how to automate placing a bet when a certain % of the profit or less has been made.

e.g A back bet has already been matched, now I want the 2nd bet to be placed when the green/red reaches 50% of the total potential profit/loss?

Any help greatly appreciated.

You need to continually trigger a rule to store the value of the selections P/L

You can then test this with a 'Close trade on selection with greening' rule with a 'close trade profit' condition

There's a very similar example here which checks your stake used and greens up to a percentage of that, so would only require a minor tweak to the value its storing
viewtopic.php?f=58&t=20089

Thank you very much