back to lay

[david39]

When you have a back to lay bet what is the procedure to cut your losses when your selection is fading?
The reason I ask this is after lots of dry runs I finally took the plunge with a back to lay bet for real. My selection ran like a donkey and near the finish I clicked on stop
to cancel the bet and accept my loss.
A message came up telling me my liability for this would be 1400 pounds.
I think this was because my horses price had sky rocketed just before the finish.
Finally, could you please advise me as to the correct procedure to cancel a losing bet such as this?
PS my bet was to a 10 stake and I did manage to cancel my mistake

[Dallas]

Sounds like you did everything right but didn't have greening enabled, therefore placing an lay bet equal to your back bet, if at high odds (ie, around 140.0) this would give you a large liability of £1400 if that select were to recover and win

You never mentioned which trading screen you were using so below are links to the user gude pages showing how to enable greening on both trading screens

One Click screen
https://www.betangel.com/user-guide/one ... ng_up.html

Ladder
https://www.betangel.com/user-guide/lad ... olumn.html

[david39]

Thanks for the reply.
I did read that page but it doesn't show what happens in a situation where you are in a losing position and need to get out.
I am using the 1 click screen - offset with greening -20 clicks and keep all.
Up to this point I had been doing reasonably well. (training mode only).
Then, when I was on a loser I clicked on close and was told my liability was 1400.
To sum up - what I need to know is how to get out of a losing position.
But, once again I am grateful for your response.
David

[Dallas]

Thanks for the reply.
I did read that page but it doesn't show what happens in a situation where you are in a losing position and need to get out.
I am using the 1 click screen - offset with greening -20 clicks and keep all.
Up to this point I had been doing reasonably well. (training mode only).
Then, when I was on a loser I clicked on close and was told my liability was 1400.
To sum up - what I need to know is how to get out of a losing position.
But, once again I am grateful for your response.
David

You can't just turn a losing position into a winning one (unless you staked a huge amount of money at it taking on a liability 20, 30, 50+ times more than your original stake - and got it all matched)
But assuming you have all you've done is reverse your position so that if the horse came back in you would be in a world of pain

When if a trade goes against you your only options are
A) let it run and potentially lose your whole stake
b) exit for a partial loss at the best available price, doing this by greening and spreading the loss across all the selections as advised above is what all traders have to do.

A well respected forum member called Letiss has coined the phrase 'What separates a profitable trader from a losing trader is what they do when faced with a red screen'
This is just one of many in depth replies he's given over the years on it
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