Best back price best rev Price?

[1856]

Hi All,

Need to my get head around this again. If someone could clarify please.

When using Automation the Best back price is the highest price in the Back column $1.77 ?

When using Automation the Best back Reverse price is still the highest price in the Back column $1.77 ?

When using Automation the Best Lay price is the highest price in the Lay column $1.79 ?

When using Automation the Best Lay Reverse price is still the highest price in the Back column $1.79 ?

The reason I ask is, when I use Automation and want to place a Lay bet 2 ticks below the best Lay price or best reverse lay price I get confused which to choose

Screenshot 2024-09-23 134405.png

.
Thanks

Michael

[firlandsfarm]

No Michael, in your example the Best Reverse Back Price is 1.79, it places the back bet on the other side of the book, the Lay price. Likewise the Best Reverse Lay Price is 1.77.

Hope that helps.

[1856]

oh ok, could you help again thanks. So if I want to place a Lay bet 1 Tick behind the $1..77 in the back column. How would I describe that in my trigger?

Cheers
Michael

[firlandsfarm]

oh ok, could you help again thanks. So if I want to place a Lay bet 1 Tick behind the $1..77 in the back column. How would I describe that in my trigger?

Cheers
Michael

I guess you mean the 1.76 price ... that would be the "2nd Best Reverse Market Price" or it could also be "Custom Ticks Below Best Reverse Market Price - Ticks 1" making it Back price dependant or in your example it could be "Custom Ticks Below Best Market Price - Ticks 3" where it will be Lay Price dependant. All three will get you a Lay bet at 1.76 in your example but if a Back price of 1.78 had funds they would equate to different prices and again if 1,78 was funded as a Lay price you would get another set of prices.

So ...

"X Best Reverse Market Price" jumps gaps in the Reverse side of the book ignoring ticks
"Custom Ticks Below Best Reverse Market Price" counts ticks in the reverse side of the book counting from the Best Price on the Reverse side
"Custom Ticks Below Best Market Price" does likewise but counts from the 'real' side of the book.

They make little difference in highly liquid markets where gaps in pricing is rare but in the market you exampled there is a gap so different prices are created.

[Anbell]

Hi All,

Need to my get head around this again. If someone could clarify please.

When using Automation the Best back price is the highest price in the Back column $1.77 ?

When using Automation the Best back Reverse price is still the highest price in the Back column $1.77 ?

When using Automation the Best Lay price is the highest price in the Lay column $1.79 ?

When using Automation the Best Lay Reverse price is still the highest price in the Back column $1.79 ?

The reason I ask is, when I use Automation and want to place a Lay bet 2 ticks below the best Lay price or best reverse lay price I get confused which to chooseScreenshot 2024-09-23 134405.png.
Thanks

Michael

One shorthand that I use: (Best) Price means "take" money that is available. Reverse Price = Offer money (i.e cross the spread)

[1856]

Thanks for the replys, but Im still struggling to get my bets placed.

Here is the perfect example, I want to place a lay bet ( offer ) 2 ticks below price in the Back column.

There is no money (prices) available in the Lay column.

I have set the rule to place a lay bet 2 ticks below the best market price.
When the trigger fires it places the Lay bet at $1.01 ?

Screenshot 2024-09-24 061648.png

Screenshot 2024-09-24 061735.png

[jamesedwards]

If you're looking to back then the 'best price' is the price currently available to back and the 'best reverse price' is the price currently available to lay.

If you're looking to lay then the 'best price' is the price currently available to lay and the 'best reverse price' is the price currently available to back.

In your example you are looking to lay at two ticks below the best back price so you need to use the reverse price. Laying row 1 two ticks below the best reverse price in this example would place a lay at 2.88.

[weemac]

Thanks for the replys, but Im still struggling to get my bets placed.

Here is the perfect example, I want to place a lay bet ( offer ) 2 ticks below price in the Back column.

There is no money (prices) available in the Lay column.

I have set the rule to place a lay bet 2 ticks below the best market price.
When the trigger fires it places the Lay bet at $1.01 ? Screenshot 2024-09-24 061648.pngScreenshot 2024-09-24 061735.png

Your rule should ask to lay at 2 ticks below the reverse price (2.92 - 2 ticks = 2.88). There is no best price yet at which to lay, so you can't refer to it yet.

"Best" price does a U-turn depending on whether you're a backer or a layer.

[1856]

GOT IT!

That took me a while to understand, a little embarrassed. Appreciate all the help and your patience.

Thanks again,

Michael