Manually placing a stop loss on in play horse race

[kenfrost]

Hi folks

I want to place a lay trade in play at say 10 in the expectation that the price drifts.

But, if it shortens I want to manually place a stop loss at a predetermined price eg 5.

I have tried doing this, but the stop loss keeps being matched at best price instead of sitting patiently unmatched at the price I want.

How do I do this without using the green up stop loss bot please (the delay inplay means that the stop loss is invariably missed)?

Thanks

[jamesedwards]

Hi folks

I want to place a lay trade in play at say 10 in the expectation that the price drifts.

But, if it shortens I want to manually place a stop loss at a predetermined price eg 5.

I have tried doing this, but the stop loss keeps being matched at best price instead of sitting patiently unmatched at the price I want.

How do I do this without using the green up stop loss bot please (the delay inplay means that the stop loss is invariably missed)?

Thanks

You would have to place a back lay at 5 (or below) on the condition that the price has reached 5. Unfortunately, with the Betfair 1 sec delay on an in-play horse race this will often go unmatched if the horse wins, as by the time your offer hits the market the price may be long gone. It will always match if the horse goes on to lose.

The only solution is to try and pre-empt the price movement, eg place an offer at 5 when the price moves from 10 to 7, or place an offer at well below 5 when the price reaches 5 to get matched more often.

[kenfrost]

Hi folks

I want to place a lay trade in play at say 10 in the expectation that the price drifts.

But, if it shortens I want to manually place a stop loss at a predetermined price eg 5.

I have tried doing this, but the stop loss keeps being matched at best price instead of sitting patiently unmatched at the price I want.

How do I do this without using the green up stop loss bot please (the delay inplay means that the stop loss is invariably missed)?

Thanks

You would have to place a back lay at 5 (or below) on the condition that the price has reached 5. Unfortunately, with the Betfair 1 sec delay on an in-play horse race this will often go unmatched if the horse wins, as by the time your offer hits the market the price may be long gone. It will always match if the horse goes on to lose.

The only solution is to try and pre-empt the price movement, eg place an offer at 5 when the price moves from 10 to 7, or place an offer at well below 5 when the price reaches 5 to get matched more often.

thanks, but how do I do that on the ladder before it hits 5?

[jamesedwards]

Hi folks

I want to place a lay trade in play at say 10 in the expectation that the price drifts.

But, if it shortens I want to manually place a stop loss at a predetermined price eg 5.

I have tried doing this, but the stop loss keeps being matched at best price instead of sitting patiently unmatched at the price I want.

How do I do this without using the green up stop loss bot please (the delay inplay means that the stop loss is invariably missed)?

Thanks

You would have to place a back lay at 5 (or below) on the condition that the price has reached 5. Unfortunately, with the Betfair 1 sec delay on an in-play horse race this will often go unmatched if the horse wins, as by the time your offer hits the market the price may be long gone. It will always match if the horse goes on to lose.

The only solution is to try and pre-empt the price movement, eg place an offer at 5 when the price moves from 10 to 7, or place an offer at well below 5 when the price reaches 5 to get matched more often.

thanks, but how do I do that on the ladder before it hits 5?

You could create a rulefile in Guardian that either becomes active automatically when the initial lay trade is placed, or that can be triggered manually as a servant using a keyboard shortcut.

The first option is probably easiest. eg: Set a rulesfile running that places a back bet at 7.0 on condition that the selection has a matched lay bet @ 10.0 and latest price is <7.0.

[kenfrost]

You would have to place a back lay at 5 (or below) on the condition that the price has reached 5. Unfortunately, with the Betfair 1 sec delay on an in-play horse race this will often go unmatched if the horse wins, as by the time your offer hits the market the price may be long gone. It will always match if the horse goes on to lose.

The only solution is to try and pre-empt the price movement, eg place an offer at 5 when the price moves from 10 to 7, or place an offer at well below 5 when the price reaches 5 to get matched more often.

thanks, but how do I do that on the ladder before it hits 5?

You could create a rulefile in Guardian that either becomes active automatically when the initial lay trade is placed, or that can be triggered manually as a servant using a keyboard shortcut.

The first option is probably easiest. eg: Set a rulesfile running that places a back bet at 7.0 on condition that the selection has a matched lay bet @ 10.0 and latest price is <7.0.

Thanks, I will tinker around with that. One possible snag is that each race I select different odds to lay at, so I will need to think around how to do this.

[bdamir]

Betfair won’t let a stop-loss sit unmatched in-play. It always hits best price once triggered. Your only real options: place a limit order at 5 from the start or use a bot to fire a limit order the second the price hits your trigger. Manual stops will always lag.

[kenfrost]

Betfair won’t let a stop-loss sit unmatched in-play. It always hits best price once triggered. Your only real options: place a limit order at 5 from the start or use a bot to fire a limit order the second the price hits your trigger. Manual stops will always lag.

Thanks no idea what a limit order is, will need to look that up.