Liability Condition in the Automation Rules Editor

[elizo]

Hi,

I have a very simple automation file with very few conditions, one of them being the total amount of Lay/Back bets matched not above a given amount. That's ok when backing, since your risk is exactly the notional of the matched bet, but how can I make the automation to stop exactly at my desired risk when laying? Example:

I wish to risk €30 in a given selection by laying at market prices, in-play. I am entering the market in €50 bet notional chunks, as per automation parameters. Lay price is 1.30. Therefore, my first €50 chunk trades at 1.30 and my risk is €15.
Lay price moves to 1.20. I trade my second €50 chunk there and risk is €10. Total risk so far is €25.
Now prices move to 1.50. Since I trade there, my third €50 notional chunk brings an additional liability for €25. Now my total risk is €50, exceeding those €30 I was willing to risk. If I would have traded €10 notional instead of €50, my new liability would have been €5, reaching the €30 goal figure.

Any clues?

Thanks in advance

[Dallas]

On the parameters tab instead of using a fixed stake use Stake to a liability

[elizo]

On the parameters tab instead of using a fixed stake use Stake to a liability

First of all, Dallas, thanks very much for your prompt response.

I saw that, and indeed it will recalculate notional to match for that given chunk the liability I wish (it changes the notional parameter for a liability parameter). But how do I make the automation to halt sending more orders once we reach the whole aggregated amount of risk for that particular selection/event I am trading? Since there is not a condition based on liability (only on matched notional), the automation will keep sending new orders.

Thanks again

[Dallas]

It would work the same way as the back bets do, if you wanted to risk £50 worth of lay bets and you where laying to a £10 liability you would have a condition that the matched bets are less than 5.

[elizo]

It would work the same way as the back bets do, if you wanted to risk £50 worth of lay bets and you where laying to a £10 liability you would have a condition that the matched bets are less than 5.

That sounds goods, thanks. However, what if I have partial fillings? The system recognizes them as matched bets too, correct? And if so, I would be betting for less than the proposed risk tolerance.
That could be minimised by triggering small chunks rather that large ones, I guess. But then it would take longer to fill the whole desired exposure (which may not be necessarily good or bad, in the long run)

[Dallas]

Thats correct regarding the way the matched bets work, following the above posts will stop you from exceeding your pre-determined max liability but if there is a few part matched bets there are times when you may not put the full amount into the market before the rule stops triggering.

There is no way round that actual part at the moment but if you look on the recent suggestions thread the idea of a condition to look at overall loss/liability has been put forward for a future release of Bet Angel so if its something you would find useful and want if you add yourself to that thread its looked at by the development team.

[elizo]

Thanks very much, I definitely will.

[elizo]

Good morning, Dallas.

Apologies if this is disturbing, but do you have the link to that thread you mentioned, for new releases discussion?

Many thanks in advance

[Dallas]

Here is the link to submit new suggestions
viewforum.php?f=20

This is the link which i was refering to earlier in this thread where the overall P&L of a selection is looked at not just the current closing poisition, what your asking is slightly different as you want the possiblity of expanding this to take into account the overall unmatched liability as well but it may be better to tag it into this rather than a new thread but its your call.
viewtopic.php?f=20&t=11474