Easy/Effective Ways to Reverse an Open Position?

[Dave64]

I'm starting to look into effective ways of automatically reversing a position when a market goes against me in certain circumstances. As an example:

My rule has fired and I have a BACK bet matched at 4.0 with an offset but my selection starts to drift and I now want to be a layer. I'm looking to automatically invoke a LAY rule to switch my position possibly using using stored variables that take into account current price, current negative liability, etc or is there an easier solution (apart from not being a backer in the first instance! )?

[Dallas]

Its easy enough to do depending on how many times you want to reverse the position, ie, if after reversing once with a lay if it then steams in again are you reversing again with a another back bet (essentially compounding your losses)?

[Dave64]

I just require the 1 reversal process for this particular ruleset as I have identified scenarios where the price will move strongly in one direction after my initial entry point

[Dallas]

I just require the 1 reversal process for this particular ruleset as I have identified scenarios where the price will move strongly in one direction after my initial entry point

The easiest way it to use a Servant and on the back bet rule use the 'Stored value' tab to store the price your bet is placed at and give it a unique name ie, reversal_entry
then just below in the adjustment area enter plus (whatever ticks or percent you want the reversal bet to be placed at)

Next add a place lay bet rule with a 'Stored value' condition
to test the current lay price
is greater than the stored value named 'reversal_entry' (or whatever you called it

The stake you need to use is going to depend on how you want to flip your position by

[Dave64]

Brilliant! Thank you Dallas