The stop-loss feature - Can someone explain this to me?

[one cool dog]

Hi

Just looking for details at the moment, as playing about with it.

I backed a couple of horses today for a couple of quid.

I have backed Jennifer's Joy at 3.30 for £2

I have tick offset at 2

I have stop loss at 2

Nothing else ticked.

My bet at 3.30 went through and I am +£4.37 on Jennifer's Joy and -£2 on others

My market information below has the bet matched at 3.30, which is fine.

There is also an imediate lay put up of £2 at 3.2


Now, that will just give me a free bet won't it?

I thought the idea of the stop loss was to fire a bet in at a higher price if the market does not go the way I had hoped.

I am sure I am not getting what to do here, so could some please explain to me what needs ticking or setting if the prices goes the wrong way.

Cheers

[Mitch]

The second bet that's been placed is your offset bet.

The stop loss bet will only be sent if the price goes the wrong way. If it was sent now it would be matched immediately.

[one cool dog]

Hi

Thank you for answering.

I am being really gimp here, but I still don't get it.

All that is happening at the moment is that an immediate bet goes into lay at 3.2. I don't want that to happen, as I hope that the price would keep shrinking.

Do I have this all wrong then. I thought the stop-loss was there to make sure you get your stake backed back again if it hits a price, say 2 ticks higher than your bet, like a reverse green-up.

I am not seeing the point quite yet of the feature, as I could just put a bet up to lay at 3.2 manually without a great deal of hassle.

I would like to be able to use a stop-loss while betting in-running if possible, but I need it to back my stake back at a higher price and not at a shorter one.

I hope I am making myself clear, but if not please ask for more details. I can do some screenshots if it helps.

Regards

[Captain Sensible]

OCD, Mitch is right the bet at 3.2 is because you ticked the place offset bet. As soon as your original £2 @ 3.3 was matched the program places any offset bets i.e. 2 tick below 3.3 (3.2). If you think the price will go lower and you're using the level profit function to trade a profit just don't tick the offset. The stop loss would fire a lay in your scenario if the back price went to 3.4 (two ticks above your original trade).

I wouldn't use a two tick stop loss in running as the markets open up very sparsely and the only available odds could well be over 3.3 before the market settles.

Gary has now implemented an auto level function on the beta for offset bets that will enter bets at your tick offset for the correct stake rather than matching the back/lay stake you entered to start with. A lot depends on your style of betting as to how you use the features available but from my point of view you won't go far wrong taking a profit when it's available rather than getting greedy and losing the lot.

[one cool dog]

Hi

Thanks for that. I am still trying to get my head around this, being honest.

So, to clarify, how would I set up a bet to only match if it went higher? (What needs to be ticked?)

How do I stop a bet being fired in below the odds.

How do I make sure a bet gets fired in at higher odds than the one I have taken if it drifts badly?

I always take a green. It takes discipline as you can lose a lot of money - I would have been about £300 better off in the last week or so had I not greened up - but I am 'happy' enough to get all green and guarentee a win every time.

I just don't want that bet fired in at a lower price when I play, but a bet at higher if it drifts.

An example -


I bet a horse

£2 at 3.5

horses comes in and nothing happens


horse drifts to 4.5 and I am not interested in having the bet anymore. A bet if fired in to level up.

Is this possible? If so, can you explain exactly what needs doind. I am happy to mess about with things but would like some guidance.


Cheers as always

[coolbear]

Hi!

This question and the great replies from generous members of the Forum clearly demonstrate the need for a proper user manual produced by the authors.

More than a month ago, Mark stated that it would be forthcoming.

Perhaps, if it is a work in progress, it would be useful to many if it were released in part as it was completed.

Just thinking out loud,

Cheers,

Coolbear.

[Mitch]

"Tick Offset" is for taking a profit at however many ticks you set it to. If you don't want the Lay placed automatically to take the profit then leave "Tick Offset" at 0.

"Stop Loss" is for reducing your loss if the price goes the wrong way. Set it to however many ticks above your Back price you'd want to get out at.

[one cool dog]

When you say tick offset is for taking a profit, do you mean you just get a freebie or you get a green all around.

Stop Loss : Does anything come up in unmatched bets when you do a stop loss?

I presume both are only really useful before a race?

I can get a Free Bet i.e back at 5.0 and lay at 4.6 and then spread the profit across all horses. That is useful.

[tkp]

In the Beta version you can use tick offset in both ways you describe.

1) Set it to how many ticks you expect the market to drop/rise, place back or lay, and once matched the next bet will automatically be placed at the same stake as the 1st bet was matched at. If this next bet is matched then you will get a "free bet".

You then choose if you want to let this free bet ride in the hope that the selection will win or hit the LEVEL profit button to spread the profit across all selections.

2) Same as above but you tick "Autolevel" (I think this is what it's called but I don't have BA open - it's located next to the Tickoffset). This time when your 1st bet is matched the 2nd automatic bets stake will be so adjusted to automatically level the profit across all selections.

Stop Loss: No unmatched bets as the stop loss bet isn't requested until the price has fallen or risen to your stop loss point.........have a look in the HELP forum and the Demonstration Videos (STICKY) thread - Gary has dropped a brand new video in there demonstrating the Stop Loss.

Hope that helps.