Trading out either 50% negatively or certain set amounts positively

[Kosi10]

Dear Betangelers,

I struggle with the following issue, most certainly hope anybody can help me.

What i would like to automate is the following: trade in 10 pounds before football match, and then, either trade out when the 'cash out' button on betfair would say -5 pound, or trade out in four stages of +50p, +1 pound, +1.5 pounds and +2 pounds.

What I have done so far is have the bot trade out certain amounts of ticks,(positively) and as a failsafe the bot would also green up towards the end of the game, just in case. I hope a more sophisticated and precise method is possible..

Looking forward to anyone helping, thanks!

[Dallas]

Here you go
viewtopic.php?f=47&t=11488

However you can't green up at multiple amounts (ie, 0.50p, £1, £2 etc) as once you've greened up at 0.50p you'll have that as a level profit across all selections - unless you place another bet then want to green up again if your total profit is now £1?

[Kosi10]

Thank you Dallas,

What i could do is set 4 bets, each for 2.5 pounds, exiting when -1.25 and having four different positive exiting rules. Thank you so much!

Regards, Simon

[Dallas]

Thank you Dallas,

What i could do is set 4 bets, each for 2.5 pounds, exiting when -1.25 and having four different positive exiting rules. Thank you so much!

Regards, Simon

Yes, you can reduce your position by placing opposing bets, you'd only need one opening bet still (but could use as many as you wanted)
but instead of a greening rule you'll need to use 4 place back bets or place lay bets (whichever is the opposite of your opening bet/s and add a close trade profit condition' (with greening box ticked)
and set an amount for each rule

[Kosi10]

Hi Dallas,

I think i did what you suggested, still my backbets aren't trading out... I have attached my bot.. Any idea why this happens?

I understand that, when one backbet is triggered, the 5 pound stop loss is no longer possible, but that is ok!

Regards, Simon

[Dallas]

Hi Dallas,

I think i did what you suggested, still my backbets aren't trading out... I have attached my bot.. Any idea why this happens?

I understand that, when one backbet is triggered, the 5 pound stop loss is no longer possible, but that is ok!

Regards, Simon

You have the lay bets applied to selection in row 3
But the green up rules profit condition applied to selection in row 1

So that just needs changing to row 3

Or when only betting on a single selection rather than use a 'green all elections' rule, it better to use a 'Close trade on selection with greening' rule
that can then be applied to the selection in row 3 on the General tab

If greening up in play id also suggest arming the rule to trigger at least 3 times and re-arm every 2-3 seconds, just in case the price moves before the bet is matched that will ensure its cancelled and triggered again

[Kosi10]

Dear Dallas,

I thought I implemented your advise, however, the bot seems to always trade out... Does it have anything to do with the condition type in the conditions tab? It's set on 'green all profit condition', but I'm hesitant wether this is correct.

Here is an example of a trade in my betfair profit and loss:


Selection Odds Stake (£) Bid type Placed Profit/Loss (£)
The Draw 3.45 4.00 Lay 18-Oct-23 21:28 4.00

The Draw 1.21 12.40 Back 18-Oct-23 21:49 -12.40

This game was 1-1 at the half time mark when the trade was placed, the absolute favorite scored at the 60 minute mark and the game ended 2-1... What could be a reason the drawodds would be 1.21 at roughly minute 65 of the game...? A glitch, or?

Thanks in advance for your reply, regards, Simon

[Dallas]

Dear Dallas,

This game was 1-1 at the half time mark when the trade was placed, the absolute favorite scored at the 60 minute mark and the game ended 2-1... What could be a reason the drawodds would be 1.21 at roughly minute 65 of the game...? A glitch, or?

Thanks in advance for your reply, regards, Simon

The price is never a 'glitch, its what someone in the market is prepared to offer at any given time.

If it was a low level match with no many people betting or trading by the time the market was unsuspended after the second goal there may still have been a large spread in the back/lay price a few mins later

[Kosi10]

Thank you Dallas,

Anything I can do to protect against such a big spread? add another condition to the bot?

[Dallas]

Thank you Dallas,

Anything I can do to protect against such a big spread? add another condition to the bot?

I tend to use the following when triggering bets after a goal to allow the chance for the market to reform
'Unsuspended Time Condition' is greater than 65 secs (longer on a low quality match)
'Relative odds condition'
selections back price
is equal to
selections lay price
minus 1 tick

and that ensures there is no gap between the back and lay prices offered

[Kosi10]

Thank you for your reply, and apologies for having yet another question..

I wanted to use this bot for the following strategy:
-Select a game to lay the draw (under certain conditions)
-trade out when 50% of the liability is hit (no goal is scored or multiple goals are scored but the games ties)
-otherwise let the 'bet' trade out, full return when successful, no trading after a goal.

Does that mean a big spread (and a low liquidity) make this strategy unusable? How would you go at it?

Regards, Simon