Hi guys,
New to forum and are planning to purchase bet angel in the near future when I have studied more and more markets, devised an effective trading plan and have done plenty more back testing.
Please bare with me as I only traded a small amount of games/races on betfair and im very much a beginner, looking to learn from the forum/forumites as much as I possible can.
This question will seem very basic and quite obvious but it is an issue myself and my cousin (who is also looking into bet angel and taking trading more serious ) have with the stop loss in a football matches when laying over 2.5goals.
If example:
We layed over 2.5goals in a Bolton v Wigan game at 1.94
And for eg: our stop loss was at 1.84..
Am I right in thinking that for the odds to hit 1.84 or below there would have to be a goal? or unless the odd time a really fast start to the game but usually more than not a goal.
Then if the goal is scored, surely the market would then go to eg: 1.50/1.55.
Then this is my issue. What happens to our stop loss? does it just take the 1.55? (the price it jumps too after the goal) or does it stay there and wait for the odds to go back to 1.84? (the original stop loss advised)
Any help on this issue would be great and sorry again if it sounds obvious ha..
Thanks
Ross
Hi guys. New to forum.
-
rubysglory
- Posts: 309
- Joined: Thu Nov 04, 2010 7:02 am
Not going to comment on football and what causes markets to fluctuate - goals, remaing time, send-offs etc.
With regards to the stop loss mechanism, as seen on the Top Toolbar of BA, your preferred stop loss is your Stop Trigger price - in your case 1.84. Your stop loss enters the market however at the ' Place At Ticks ' price. The reasoning behind this approach is to attempt to prevent the market 'moving through' your price range, in which case your Order may be forever queued.
If your 'Place At' price was 1.74 and the price quickly went to 1.55, it is possible that you would not be matched. You would have an outstanding order in the market at 1.74. The only way you could guarantee your order was filled was to set your 'Place At' price at 1.01 and accept the best price availble at the time.
Hope this helps. If still unsure, to test, have a few minimum bet plays on short priced selections in some fast moving markets - example IP horse racing.
rg
With regards to the stop loss mechanism, as seen on the Top Toolbar of BA, your preferred stop loss is your Stop Trigger price - in your case 1.84. Your stop loss enters the market however at the ' Place At Ticks ' price. The reasoning behind this approach is to attempt to prevent the market 'moving through' your price range, in which case your Order may be forever queued.
If your 'Place At' price was 1.74 and the price quickly went to 1.55, it is possible that you would not be matched. You would have an outstanding order in the market at 1.74. The only way you could guarantee your order was filled was to set your 'Place At' price at 1.01 and accept the best price availble at the time.
Hope this helps. If still unsure, to test, have a few minimum bet plays on short priced selections in some fast moving markets - example IP horse racing.
rg