could someone explain this to me please

[prestburydreams]

backed a horse 3 times hoping it would go down it eventually went back but was getting to very close to the off so I tried to take the 8 quid red but it would not place the bet


4/17/2020 10:23:09: Market changed to Cran (AUS) 17th Apr - 10:30 R5 1200m Hcap
4/17/2020 10:25:03: £ 64.00 Back bet placed on 11. Witchfulthinking at 2.44. Entirely unmatched when it initially reached the market. Ref: 199427620753
4/17/2020 10:26:18: Placed closure bet on 11. Witchfulthinking by Laying 65.61 at 2.38
4/17/2020 10:26:42: £ 64.00 Back bet placed on 11. Witchfulthinking at 2.6. Entirely unmatched when it initially reached the market. Ref: 199427694528
4/17/2020 10:27:47: £ 64.00 Back bet placed on 11. Witchfulthinking at 2.9. Entirely unmatched when it initially reached the market. Ref: 199427756460
4/17/2020 10:28:05: Cancelling bets 199427756460
4/17/2020 10:28:10: £ 64.00 Back bet placed on 11. Witchfulthinking at 2.72. Entirely unmatched when it initially reached the market. Ref: 199427778599
4/17/2020 10:29:05: Placed closure bet on 11. Witchfulthinking by Laying 194.00 at 2.56
4/17/2020 10:29:06: An error occurred while Placing closure bet on 11. Witchfulthinking by Laying 197.08 at 2.52 [2.52_197.08]: The order cannot be processed as your betfair account does not have enough funds (or has exceeded its exposure limit).
4/17/2020 10:29:10: An error occurred while Placing closure bet on 11. Witchfulthinking by Laying 203.54 at 2.44 [2.44_203.54]: The order cannot be processed as your betfair account does not have enough funds (or has exceeded its exposure limit).
4/17/2020 10:29:12: Cancelling bets 199427836609
4/17/2020 10:29:13: £ 25.00 Lay bet placed on 11. Witchfulthinking at 2.56. Entirely unmatched when it initially reached the market. Ref: 199427842023
4/17/2020 10:29:14: £ 25.00 Lay bet placed on 11. Witchfulthinking at 2.5. Entirely unmatched when it initially reached the market. Ref: 199427842707
4/17/2020 10:29:16: £ 25.00 Lay bet placed on 11. Witchfulthinking at 2.46. Entirely unmatched when it initially reached the market. Ref: 199427843521
4/17/2020 10:29:57: An error occurred while Placing closure bet on 11. Witchfulthinking by Laying 182.59 at 2.72 [2.72_182.59]: The order cannot be processed as your betfair account does not have enough funds (or has exceeded its exposure limit).
4/17/2020 10:30:03: Cancelling bets 199427842023
4/17/2020 10:30:05: Cancelling bets 199427842707
4/17/2020 10:30:07: Cancelling bets 199427843521
4/17/2020 10:30:22: Market has been suspended

needless to say the horse went instantly 100/1 it of course could not win or even run a race the jockey must of come out the stalls riding side saddle I never back first I have mainly always laid to open a position but I tried a few this morning where I would back first as everything seems to race in during the last 2 minutes when I have needed them to move a few ticks out all week absolute disaster even when you try and do the right thing and take a loss it don't go right I had a liability of 190 and clicked the red of the left hand side it would of been matched cuz it went through it

[Naffman]

Seems you didn't have enough funds as you still had 3x £25 in lay bets on the fav when trying to trade out

[prestburydreams]

The lay bets were waiting in green positions I thought when you hit the take a loss button it took the loss

[prestburydreams]

For future reference should I have used the hedge button at the of the software

[prestburydreams]

At the top of the software

[prestburydreams]

Naff that can't be the explanation either as just one one of those lay bets would of exceeded my bank and as you can see there are three there

I had 13 quid left in the account which is more then the 8 quid I stood to lose

It's really annoying it's not just the fact the money was lost its the fact it was lost trying to trade the correct way and take the loss i would of still been 22 quid even after the 8 quid loss


Seems like every time I try to trade I find a new way for it to go wrong

[Kai]

It's really annoying it's not just the fact the money was lost its the fact it was lost trying to trade the correct way and take the loss i would of still been 22 quid even after the 8 quid loss

When using your whole bank on a trade you'll sometimes get the "not enough funds" error when managing your positions, even if you're very good at managing them. It's not a very efficient way to trade, to say the least, especially on a fast market where every second counts. Neither is getting in the habit of using the hedge button, although in this case maybe it would have been a good panic button to press, if you lose control of your positions on the ladder.

Seems like every time I try to trade I find a new way for it to go wrong

Have to go through all of the mistakes, the market will highlight them sooner or later, and the bigger the mistake the sooner that should happen. If you had a recording of the race it would have been fairly obvious where it went wrong, that's why recording is so helpful.

[prestburydreams]

Thanks but that really doesn't answer the question if I had 227 quid and stood to lose 190 and 8 pound red why would it not place the bet

I'm learning to trade it went to a point where I thought it would return to as you can see by the log the first time I was right but missed it as the bets went entirely unmatched

After that it's easy to say I should of done this and I could of done that but I still think it's a legitimate question I why the software could not place a lay back bet when I was trying to red up for 8 quid i had 13 left in my account and was only 3 ticks from scratch but as you can see I could not risk waiting any longer as I did not want to go in play

The third back bet was right at the top of the market and when it started motoring back to where it had come from to wait as long as possible made sense to expect the software to lose 8 quid out of 190 seemed to make sense but obviously the software disagreed

[prestburydreams]

As for using the hedge button you better let peter know cuz he seems to be a fan of it on his YouTube videos if only he knew he was doing wrong he could be really good at it

[Kai]

Your anger is understandable but misplaced, Peter's videos are there for educational purposes and to try to simplify trading as much as possible to make it easier to digest for anyone trying to learn it. Notice how clean his execution is, with mostly hedging only at the end when all positions are neatly closed.

Not much use in blaming the software, I would encourage you to make up your own mind on the benefits and flaws of the hedge button by looking at what it actually does, on a mechanical level.

[prestburydreams]

Listen pal I don't claim to be a trader but to expect to be able to retain 182 quid out of 190 doesn't seem beyond the realms of expectation to me
there ain't anybody out who has not had a trade go wrong but I bet there has been a few surprised when you can't get your money out as it won't place a bet the lay back bet

It would of been easier to take if I had just thought fuck it I will let it go inrunning and hope I get lucky in fact under those circumstances it's a small bet for me

I could even understand it more if there was not more then 8 quid left in my account but there was enough to cover the loss

telling people it wasn't a great trade ain't no explanation I know it wasn't a great trade I losing 8 quid ffs

I never seen the video's where they say learn to take ur losses don't go inrunning but sometimes you will try and take a loss it it will still fuck you over as theres obviously a discrepancy somewhere in the software

[Dallas]

You can get that error message So their PC was failing to download

It looks like your PC was failing to download the matched bets information and therefore your P/L from Betfair so the information you were seeing in Bet Angel was different to your actual position.

That error usually occurs for one of two reasons (both of which you also need to be betting all or near all your bank as you said you were)

The reasons for not downloading the matched bets information during that time would either be down to your PC/connection or the betfair API was failing to send current information, because sports are so thin at the moment its hard to tell if Betfair are having any API issues as there are far less people trading each market to report if its a widespread API issue or a local one.

Which version of Bet Angel are you using?

If its not V1.54.1 I'd recommend updating to that, it may not of made any difference in this particular instance but it has a few code changes to force Bet Angel to request bet information if it looks like the API is having issues
viewtopic.php?f=46&t=20378

[prestburydreams]

At least that makes more sense then a bad trade something definitely went wrong somewhere

[Kai]

Nobody commented on the quality of the trade, how could anyone from that log alone. I understand it's not the right timing for constructive criticism.

In case it's not a software error, you got the answer right away from Naffman. I just added that you may run into more similar issues if you keep tying up the whole bank on a single trade. I certainly have. Doesn't help with outages either.

[prestburydreams]

Well it must of been the api as the live video was working fine