I have a basic rules file for scalping a football market in play. A lay bet is placed on the Fav when the market moves a certain amount of ticks down, and offset 10 ticks with greening. I would like to add the following parameters but not sure how?
1. Add fill or kill to the first lay bet so that if the market continues in one direction there isnt a bet sitting there for ages
2. Add a stop loss to the bet so that if the first bet is matched but not offset there wont be a large loss
Scalping Rules File Help
Think I've just answered Q1 in another post
But regarding a stop loss, if its in-play your betting they will rarely be of any use in football markets are price will generally move in one direction until a goal is scored (or sometimes a red card depending which market you are trading).
The market will often then reform well away from your stop bet leaving it unmatched miles off the current price
The only exception to this is if your opening trade is going against the direction of the price and therefore the stop will trigger before it goes too far against you
For example the draw odds will begin shortening from KO and only go out if a goal is scored
So if you backed the draw at KO the price will be moving against you until that goal comes, so you could use a stop loss bet is exit if no goal came and it had moved X ticks or percentage against you
But regarding a stop loss, if its in-play your betting they will rarely be of any use in football markets are price will generally move in one direction until a goal is scored (or sometimes a red card depending which market you are trading).
The market will often then reform well away from your stop bet leaving it unmatched miles off the current price
The only exception to this is if your opening trade is going against the direction of the price and therefore the stop will trigger before it goes too far against you
For example the draw odds will begin shortening from KO and only go out if a goal is scored
So if you backed the draw at KO the price will be moving against you until that goal comes, so you could use a stop loss bet is exit if no goal came and it had moved X ticks or percentage against you