Stop loss/automation

[Rafick385]

Hi,

Although I don't know much about horseracing, I have devised a method of predicting the winners which seems to be much better than those of professional tipsters. My strike rate up to now is more than 80% (the remaining 20% finishing 2nd). As no system can be 100% successful,I'm working on an automation rule which would place a bet on the predicted winner and eventually stop loss if the horse is losing. Could anyone advise me how to best place a stop loss in an automation rule?

Thanks

[CaerMyrddin]

Probably you should work harder on your model first, as with such a low strike rate you'll go burst very quickly.

[Rafick385]

Thank you for your reply. I'm working on increasing the strike rate.

However, there is a possibility that I didn't express myself properly.

Let's say I have 10 potential winners with an average price of 1.5 (in reality I'll be going for an average of 1.7)and I place $10 on each horse.

Return on 8 wins = 140
Loss on 2 horses = -20
Profit = 20

I want to minimize the loss so as to make a bigger profit. That's why I need help about stop loss.

Thanks.

[spreadbetting]

From the bare facts you've given, I'm guessing you're betting to win and in running. I'd be very wary of any automated stop loss, especially in running, as odds fluctuate wildly and you may find that stop loss is kicking in a lot more than those 20% losing bets. No simple system is ever going to have a massive overall winning return be careful not to whittle down the %'s by unnecessarily overcomplicating things.

[Rafick385]

Thanks very much for your precious advice.