Price crashing through my Stop Loss

[CelticAce88]

Hi,

I hope someone can help me. I an trying to trade in running racing (small stakes and I know it is risky!). I back and look to gain a couple of ticks. As soon as I back thought on one occasion the price rose quickly through my sop loss. Is this possible? Sorry to be daft but I though a stop loss was supposed to prevent that?

I also please just need to double check that I have the settings right, I have reversed the book (so the blue highlighted Back side is on the right side of the ladder interface). Once I place my back bet I then right click 10 clicks up on thee SAME (i.e. blue, right hand side) of the ladder so that cell highlights yellow?

I thought I would have to right click on the other side but I cant seem to do that!? Sorry to sound stupid but I would appreciate any help you can give me...

Thanks,

Martin

[hilly2908]

Hi Martin
You are placing the stop loss correctly but stop losses are never a guaranteed way to close a trade, best way i can try to explain it is lets say you have backed at 2.50 and right clicked yout stop loss 10 ticks higer at 2.70 if in running as you will notice the price jumps around like crazy so if someone drops in a large lay bet at anything above your stop loss say 3.0 for example it will take all the money below and spike the price up to this point, it will trigger your stop loss but as all bets have a slight delay before appearing in the market during in running your stop loss will appear as a unmatched betand only taken if the price drops back down.
You can get round this by by setting the stop trigger at say 10 ticks then having the actual stop placed for example at 30 ticks which would mean using the above example still triggering at 2.70 but being placed at 3.25 it will then stop out at this price or the best current proce below which again using the above example would exit you at 3.0 - but beware that in running the price action especially towards the last part of the race is so quick and spikes so sudden that stop losses are little to no use.
hope that helps.

[CelticAce88]

Thanks for your reply Hilly. I am sorry to interrupt what I know will be a busy afternoon of trading but I was wondering how can you set up up such a stop loss. I know how to put the initial one on but I cant find anywhere in the Ladder settings to set a second trigger that when the price reaches my loss it triggers a loss say 40 ticks above that?

Thanks again though for taking thee trouble to answer.

[hilly2908]

Hi
I belive the only way it can be done is using the drop down box on the left of your page currently it will have the word "None" drop down and select "stop on opening bet" then in the boxes just to the right enter the number of ticks you want for the "stop trigger" then the amount of ticks you want to place the stop at, when using this feature make sure global setting are enabled on the ladder screen somewhere near the top right there will be a samll blue cog icon hovering the mouse over this should show the caption "use global setting" just ensure this does not have a cross through it (so that global setting are in use).
Unlike using the manual right click stop loss it does not highlight on the ladder where it is so to ensure you have set right test using a very small stake set the the trigger at 1 or 2 and place at about 5 or 10 to ensure it works but be ready to manually close the trade just in case.
Regards

[hilly2908]

Hi
Also the link below from the bet angel user guide may help explain things a little more clearly with images to help, the stop loss features are near the bottom of the page.

http://www.betangel.com/user-guide/bet_ ... =&sct=MA==

[CelticAce88]

That's brilliant, thanks for all your efforts to reply.

Martin