Bookmaking exit strategy

[Goobs]

Hi,

Is there anyone out there who is successful with booking-making using BA?

I've been working with the bookmaking feature the past few weeks, and have been reading up a lot, but as most people know, it's hard to get a fully matched book, especially on the pre-off horse racing.

In the situation when you have one selection left unmatched that has drifted from your Lay order, is there an automation that can get me out at the lowest loss based on the new odds of that selection, at say start time of the race?

Currently, I'm doing it manually, which is a little sub-optimal!

[jamesedwards]

Hi,

Is there anyone out there who is successful with booking-making using BA?

I've been working with the bookmaking feature the past few weeks, and have been reading up a lot, but as most people know, it's hard to get a fully matched book, especially on the pre-off horse racing.

In the situation when you have one selection left unmatched that has drifted from your Lay order, is there an automation that can get me out at the lowest loss based on the new odds of that selection, at say start time of the race?

Currently, I'm doing it manually, which is a little sub-optimal!

Can't you just hit the 'green all' button?

[Goobs]

Always has "N/A" over it when I start from the Bookmaking page.........?

[jamesedwards]

Always has "N/A" over it when I start from the Bookmaking page.........?

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[Goobs]

Ahhhh but like the note suggests, "Note: When dutching or bookmaking, it is often more efficient to complete the book rather than close the positions via the one-click green up routine."

So I think that's what I'm asking, is there automation to complete the book, rather than closing?

[Goobs]

So I think this is what that note is talking about, using greening as "inefficient"....?

If I manually try to balance my book before the race starts (which is close to impossible without automation, as I can't do all that Math in my head), I can place orders with £1 bets on either side of a selection until I get close to balanced. So I can get away with about a £3-4 average loss, but the green up function wants to get me out at a -£10 loss....?

So, my question still stands: how do I balance my book in the most efficient way to minimise loss on exit?

[banana_man]

The problem with greening is that it takes prices rather than offer, that's why you get worse results. Also there is the risk that money disappears just before you click greening and possibly get an even worse pnl. Whenever I bookmake I have a time window in mind for how long it will take me to manually close each selection by offering prices rather than taking prices. As time gets closer to the OFF I take prices if I have to to avoid a selection with a big red. If you have to use automation you can try offering prices at the best price or 1 tick better than best price. The risk there is that sometimes people fat finger or deliberately take bad prices and you could end up following them.

[jamesedwards]

The problem with greening is that it takes prices rather than offer, that's why you get worse results. Also there is the risk that money disappears just before you click greening and possibly get an even worse pnl. Whenever I bookmake I have a time window in mind for how long it will take me to manually close each selection by offering prices rather than taking prices. As time gets closer to the OFF I take prices if I have to to avoid a selection with a big red. If you have to use automation you can try offering prices at the best price or 1 tick better than best price. The risk there is that sometimes people fat finger or deliberately take bad prices and you could end up following them.

In Guardian there are options to green all at reverse market price and various close position with greening options.

[Goobs]

But no option to do what i'm asking specifically??

I would be good to have a reverse price button on the bookmaking screen, as defult if you lay they are all take orders...