Hi All - First time poster, and newbie to all of this.
Ive setup an automation rule to lay the 2nd Fav pre-race, and to Greenup "IF" the horse looks like its going to actually win the race (losing bet)
My rule is to "Green Up is BACK odds are less than 1.2"
This has fired OK with some success, however, can someone advise me on:
1 : Is this method even possible if the horse actually wins the race?
2 : Greenup on a horse that wins the race nets me a loss. Is that right? Should is be Closing Selection and Greenup or another option?
Heres my log from a recent one where I apparently lose £18...
02/02/2016 11:14:54: [G_Auto] : £ 5.00 Lay bet placed on 1. Gallileo at 4.9. Fully matched at 4.9. Ref: 10095
02/02/2016 11:15:18: Guardian has detected that the market is in-play
02/02/2016 11:15:18: Guardian has detected that the market is suspended
02/02/2016 11:15:18: Guardian has detected that the market is now unsuspended
02/02/2016 11:18:22: [G_Auto] : Greened up 1. Gallileo by Backing 23.56 at 1.04
02/02/2016 11:18:25: Guardian has detected that the market is suspended
Im guessing I need a rule to at least get me to ZERO is the horse actually wins the race.
Feel free to pick this apart, its all part of learning!!
Any advice and guidance would be most welcome
Automated Greenup from Laying First
Your rule worked fine and did exactly what you set it to do, there is several ways of using guardinans automation green up/close trade etc.
You should'nt confuse the word green up for a automatic profit or break even its simpley the term used for hedging/closing a trade and spreading the profit or loss equally acorss all selections - so you can view it as green/red up
Once you have opened a position in your case layed the horse the price has to rise before you will have a profit or to break even it has to be backed at the same price it was layed at, anything lower then its going to be a loss increasing slighly each tick untill it reached 1.01 and has won (which would be a total loss of your original lay liability).
What you need to be doing is setting either odds to back which are closer to what you have layed at or choosing a loss amount you dont want to exceed which will trigger if the price drops below this.
You should'nt confuse the word green up for a automatic profit or break even its simpley the term used for hedging/closing a trade and spreading the profit or loss equally acorss all selections - so you can view it as green/red up
Once you have opened a position in your case layed the horse the price has to rise before you will have a profit or to break even it has to be backed at the same price it was layed at, anything lower then its going to be a loss increasing slighly each tick untill it reached 1.01 and has won (which would be a total loss of your original lay liability).
What you need to be doing is setting either odds to back which are closer to what you have layed at or choosing a loss amount you dont want to exceed which will trigger if the price drops below this.
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novicestakes
- Posts: 26
- Joined: Tue Feb 02, 2016 7:50 am
Thanks Dallas - Im understanding this now.
Can you help with this then, I assume this is a Stop Loss(?)
If and when in-play my Lay Bet looks like its taking a turn for the worse, whats the instruction for stopping and quitting at a value of my choosing?
Ie, Ive placed a £10 Lay Bet, Im happy to stop/quit out at £10 loss, to avoid going all the way to a much larger loss if for example laying at 7.2
Ive tried "Closing Selection" but it doesnt seem to work.
Any pointers most welcome.
The overall point of the rule is to save some of the liability loss in play if possible, by a set amount of my choosing.
Can you help with this then, I assume this is a Stop Loss(?)
If and when in-play my Lay Bet looks like its taking a turn for the worse, whats the instruction for stopping and quitting at a value of my choosing?
Ie, Ive placed a £10 Lay Bet, Im happy to stop/quit out at £10 loss, to avoid going all the way to a much larger loss if for example laying at 7.2
Ive tried "Closing Selection" but it doesnt seem to work.
Any pointers most welcome.
The overall point of the rule is to save some of the liability loss in play if possible, by a set amount of my choosing.
You can use either of the following rule types
"Close Selection with Greening"
or
"Green all Selections
and add the following condition to whichever one you use
"Green all Profit Condidtion"
Less than -£10.00
With any form of stop loss monetary or tick amount when using in play due to the voliatility of the odds movement there is no guarantee it will work 100% of the time.
Ie, In jumps racing if a horse falls its odds will go straight out to 1000.0 in one go - much to quick for any stop to close the trade
"Close Selection with Greening"
or
"Green all Selections
and add the following condition to whichever one you use
"Green all Profit Condidtion"
Less than -£10.00
With any form of stop loss monetary or tick amount when using in play due to the voliatility of the odds movement there is no guarantee it will work 100% of the time.
Ie, In jumps racing if a horse falls its odds will go straight out to 1000.0 in one go - much to quick for any stop to close the trade