Stop Loss

[DannyDakota]

I am new to Bet Angel and just giving it a try on Betdaq.
I want to create a safety net when I back something at low odds. So, for example, if I back something at 1.1 I want to lay it at 1.5 if things start to go against me.
So today I put the 'stop trigger (ticks)' at 45 and 'place at (ticks)' at 5 and backed a tennis player to win at 1.05 thinking that if the game turned against me I would have a lay bet at (about) 1.5.
When the game did turn, and my guy eventually lost, no lay bet was placed.

What am I doing wrong?

[Mr Panang]

Try to use the trailing stop function.
If the trade goes in the wrong direction with so many tics it will kill the trade, if it goes in the right direction it will just keep on going.

There are at least 1 video on it on youtube. Offset bet with trailing stop, I think the subject is horses, but the same rules apply to Tennis.

[Dublin_Flyer]

http://www.youtube.com/watch?v=xjguctjIj_0 This is one of the videos Mr Panang is talking about.

If you look through the Betangeltv youtube channel there's dozens of good videos. Some might not appear to interest you at first but if you spend an hour or two going through a selection you can find lots of hints about how to improve your trades or automations or new aspects to trade from you haven't thought of before.

It's one of the only youtube channels worth subscribing to!

[rubysglory]

It is possible that the price can 'crash' through your safety bet and never get matched. In your example you were asking a Backer to match your Lay request of 1.50. There may not have been any (or enough) takers at that price. There is much debate on when and how (or if) to use a stop loss. Personally I find stop losses very dangerous on fast moving markets and avoid them like the plague.

rg

[Euler]

Tricky to use a stop loss in Tennis because price movesment are quite sharp especially later in the match. The price will crash right through a stop and the inplay delay placed on new bets may mean it is left stranded in the market and will not match. The trick on tennis is to set a stop near where the price will be, rather than where you would like it to be.

[Alpha322]

It is possible that the price can 'crash' through your safety bet and never get matched. In your example you were asking a Backer to match your Lay request of 1.50. There may not have been any (or enough) takers at that price. There is much debate on when and how (or if) to use a stop loss. Personally I find stop losses very dangerous on fast moving markets and avoid them like the plague.

rg

Stop losses dont work that well in any in play market. I only use them in pre horse race trading, sometimes i dont as i know where i have to get out

[DannyDakota]

Try to use the trailing stop function.
If the trade goes in the wrong direction with so many tics it will kill the trade, if it goes in the right direction it will just keep on going.

There are at least 1 video on it on youtube. Offset bet with trailing stop, I think the subject is horses, but the same rules apply to Tennis.

Thanks Mr Panang. Just to be sure, 'kill' means to cancel right?

[DannyDakota]

It is possible that the price can 'crash' through your safety bet and never get matched. In your example you were asking a Backer to match your Lay request of 1.50. There may not have been any (or enough) takers at that price. There is much debate on when and how (or if) to use a stop loss. Personally I find stop losses very dangerous on fast moving markets and avoid them like the plague.

rg

Thanks, an interesting answer mate. I thought the 'place at' function was supposed to help with that or have I got that wrong?

[DannyDakota]

http://www.youtube.com/watch?v=xjguctjIj_0 This is one of the videos Mr Panang is talking about.

If you look through the Betangeltv youtube channel there's dozens of good videos. Some might not appear to interest you at first but if you spend an hour or two going through a selection you can find lots of hints about how to improve your trades or automations or new aspects to trade from you haven't thought of before.

It's one of the only youtube channels worth subscribing to!

Cheers I will have a look

[DannyDakota]

I am new to Bet Angel and just giving it a try on Betdaq.
I want to create a safety net when I back something at low odds. So, for example, if I back something at 1.1 I want to lay it at 1.5 if things start to go against me.
So today I put the 'stop trigger (ticks)' at 45 and 'place at (ticks)' at 5 and backed a tennis player to win at 1.05 thinking that if the game turned against me I would have a lay bet at (about) 1.5.
When the game did turn, and my guy eventually lost, no lay bet was placed.

What am I doing wrong?

Well, I found out something I was doing wrong - the 'place at (ticks)' starts from the opening bet not from the 'stop trigger'. Whereas I thought it would place to at 1.55 in the above example it actually wanted to place at 1.1 (ie 1.05 + 5 ticks).

So I had another go in the Roddick/Muller game tonight and set it up better but because I am using Betdaq there are large gaps in the prices eg I backed Muller at 1.3 but the lay price was 1.7 (1.32 and 1.33 on BF at the same time). Therefore I set a much higher stop trigger of 55 ticks and a 'place at' of 60 ticks. As roddick came back into the game Mullers price drifted but went crashing through my 1.85/1.9 trigger/place at positions to 2.25. The price did get matched eventually as it came in again so it worked but not quite as I intended.
I think using it in Betfair would have increased the chances of getting matched.

[Mr Panang]

Thanks Mr Panang. Just to be sure, 'kill' means to cancel right?

Yes it does, if you don't put a tick in it, it will put a back and lay bet at once, if you use the kill function on a back bet it will wait till the trade is filled with putting the lay bet.