Is it possible to check the current account balance, every minute, when it increases by X amount then Bet angel stops betting.
I have a sneaky suspicion that you cant.
Stopping betting when profit is realised
That's easy enough. You can create and update an SV with your current balance. You can have a rules file running in the background that checks it every minute and sets a global signal when your target is reached.
Each automation file would either have to be set to refuse to run if the signal is set, or it can have a rule to terminate with the conditions that the signal is set and there are no matched or unmatched bets.
Where is the logic of stopping when a target's reached if you're going to carry on the next day?
Where is the logic of stopping when a target's reached if you're going to carry on the next day? - Ive often seen it up up by 3 points only to lose 2 points in the following races. Weirdly I added up all the wins and losses over a year, average win per day is 1 point.
Or at least thats my thinking
Or at least thats my thinking
Bet Angel automatically retrieves your balance about every 5 seconds by default. Even the website updates every minute or so.
I hate to say this but there is absolutely no logic to that.essexboy wrote: ↑Thu Dec 22, 2022 8:45 pmWhere is the logic of stopping when a target's reached if you're going to carry on the next day? - Ive often seen it up up by 3 points only to lose 2 points in the following races. Weirdly I added up all the wins and losses over a year, average win per day is 1 point.
Or at least thats my thinking
First of all, all of us traders win money and lose some of it, but we just crack on. What you'll find is you win money, stop, then lose some of it the next day. Furthermore, those markets that you missed could have contained the big winners. It's random variation, nothing more.
in short, your edge shouldn't be curtailed due to a random set of wins (or losses) that abruptly pull you up to a stop. as we all (kinda) know, an edge contains almost as many losers as it does winners. the exploitation of that is down to execution. if you can consistently extract more value over a %age play, then you'll win over the course of that. bailing out early on the premise of having a daily profit probably won't bear scrutiny if you were to backtest your strategy - only your own analysis will bear this out.Derek27 wrote: ↑Thu Dec 22, 2022 8:48 pmI hate to say this but there is absolutely no logic to that.essexboy wrote: ↑Thu Dec 22, 2022 8:45 pmWhere is the logic of stopping when a target's reached if you're going to carry on the next day? - Ive often seen it up up by 3 points only to lose 2 points in the following races. Weirdly I added up all the wins and losses over a year, average win per day is 1 point.
Or at least thats my thinking
First of all, all of us traders win money and lose some of it, but we just crack on. What you'll find is you win money, stop, then lose some of it the next day. Furthermore, those markets that you missed could have contained the big winners. It's random variation, nothing more.
i actually got blindsided in my own early days by taking this approach as it seemed silly to throw away a profit (and that still stands). however, the lightbulb moment for me came thro the analysis of missed opportunity.
i'd say, keep some paper records from the trades you didn't take and see from that whether you'd have faired better continuing. altho' less is regarded as MORE, in many ways, once you have an edge, more is LESS (in terms of volatility and downturns).
but in answer to your question. yes, you can set SV's to monitor your balance and only place trades when you current MINUS starting balance is within a certain range.
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ShaunWhite
- Posts: 10570
- Joined: Sat Sep 03, 2016 3:42 am
If there comes a point in the day when your strategy regularly starts to underperform then there could be a number of reasons, the grade of races, the volume traded, or maybe a different class of punter (daytime pros or evening punters) or many other things. But the absolute last thing on earth it can have anything to do with is your personal P&L.
Last edited by ShaunWhite on Fri Dec 23, 2022 1:57 am, edited 2 times in total.
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ShaunWhite
- Posts: 10570
- Joined: Sat Sep 03, 2016 3:42 am
Look at it this way essexboy. Having an edge is like getting odds of 11/10 on a coin toss. If the coin is tossed 1000 times you'd expect to win approximately 500 times and get a return of £1050 to £1 stakes, making a £50 profit.essexboy wrote: ↑Thu Dec 22, 2022 8:45 pmWhere is the logic of stopping when a target's reached if you're going to carry on the next day? - Ive often seen it up up by 3 points only to lose 2 points in the following races. Weirdly I added up all the wins and losses over a year, average win per day is 1 point.
Or at least thats my thinking
Imagine the coin was tossed 10 times each day and your strategy was to quit for the day when you made £1. You're now looking at 100 batches of 10 coin-tosses.
In the first coin toss of each batch (100 tosses) you win 50, winning £5 with 900 tosses remaining, £45 profit left to make. But you've decided to throw away 450 of those tosses and £22.50 in the process.
You've now got just 50 batches of 9 tosses, all of which the previous toss was a loser. In the first of each batch, 25 win, 25 lose, netting £2.50, £7.50 profit in total with 400 tosses left.
In the next 50 tosses for each remaining batch, half of which are £2 down and the other half is breaking even, you win £2.50 again. But 25% of those batches will now be winning £1 so you're throwing away another 87.5 coin tosses, you get the picture.
If you've got an edge, it doesn't matter what order or sequence the winners come in. Just use it whenever you can.
Appreciate your detailed and accurate response Derek27, however some may take a different approach and taking a daily profit is the priority.
As you correctly point out this limits the potential overall profit.
I have implemented a strategy similar to the Trailing Stop, the fixed profit I calculate once reached is then adjusted upwards with each win, if the profit then drops below the new target profit betting stops ensuring a daily profit, for the past 10 months the profit is more than the losses.
Profit is how much money you’ve made after expenses, while profitability measures how sustainable your ability to generate profits is over time.
By taking smaller profits as essexboy indicated increases the profitability.
As you correctly point out this limits the potential overall profit.
I have implemented a strategy similar to the Trailing Stop, the fixed profit I calculate once reached is then adjusted upwards with each win, if the profit then drops below the new target profit betting stops ensuring a daily profit, for the past 10 months the profit is more than the losses.
Profit is how much money you’ve made after expenses, while profitability measures how sustainable your ability to generate profits is over time.
By taking smaller profits as essexboy indicated increases the profitability.