Actually place offset bets

[2020vision]

Hi Gary

maybe this is already possible but if not would it be a good idea?
If already possible could someone point me in the right direction please - thanks.

When placing offset bets I want to actually have the opposing back/lay bet
also placed at the same time - not just waiting ready for when bet is matched.
Auto-level the stake optional too? Also for lay/back all/field bets?
Hope you get what I mean?

Thanks - Michael

[negapo]

I think that isn't possible but would be simple to achieve in excel. I think that would be a good idea, some functions to close the spread between back and lay to make trading as market makers.
For what you propose i think a simple option to open the two positions simultaneous (e.g. Wait to fist bet is matched?) would do it.

[2020vision]

Hi

I am not very good or familiar with Excel. The whole idea is NOT to wait
for anything to be matched - just place the lay/back bets and then have the
chance to go off and do something else. Obviously my idea is to place the
bets in such a way that if the "trade" was not made then a value bet would
have been placed anyway - in the long term that should be profitable?

Cheers - Michael

[GaryRussell]

I was just saying to Mark yesterday that this might be a good feature. It's in the pipeline.

[2020vision]

GREAT AS USUAL - ALL THE BEST - Michael

[negapo]

It's called market making, can be profitable but i think it requires active management of your positions (maybe through excel, trying to find pressures in the two sides of you position). The problem is that new information (market conditions) can arrive making the intrinsic value of a bet different and one side of your position can be totally matched without the possibility of you closing the other side. The spread between the two positions is called (in financial markets) bid/ask spread. It's is higher with high uncertainty markets (low liquidity markets, very few information like the conditions of horses or so).
Some people explore rapid changes in market conditions. They are not valuing a bet but exploring changes in market conditions and take buy/sell accordingly, they are your "enemies". This strategy is better to use in stable markets (cant define stability).

The option to open the two positions is great i think. Maybe other step could be the option to open the two positions based on required profit.

[2020vision]

Hi negapo.

As much as I would like to get my head around Excel I am not sure I could
quite manage it? Thanks for the short lesson on markets - it really does
interest me. Maybe from my simple post it appears I do not quite
understand the risks involved - but I think I do?

As you say active management is generally what I do but sometimes I would
be quite happy to place bets - get some trades - some value bets - and some
unmatched bets - all while doing something else.

Also because my PC may be used by others leaving offset bets which have
not even been placed could end up costing me much more?
The other good part is the exact offset bet stake could be auto-leveled.

I may look into learning some Excel but have you any idea to what level
of expertise I would need to get to possibly automate some things for
myself? How long would it take assuming I am of reasonable intelligence?

Thanks for any reply you or anyone makes - Ttfn, Michael

[2020vision]

Hi again

just as an afterthought I have not forgotten about this feature I suggested
a while ago (Auto-greening) - it would go hand in hand for me when used
with the possibility suggested above.

See this post:
http://www.gruss-software.co.uk/forum/v ... highlight=

That's all for now - Michael

[negapo]

I have some experience with excel because i learned a few years ago and i have some difficulty on realising how much time a person should require to learn the basics but i don't think it's to much. It's very intuitive. To automate a strategy it depends a lot and can go from very simple things to the use of Visual Basic which a find much harder and don't understand a lot.

The risks involved in such a strategy are essentially the ones that i have stressed (new information and operational risk like a power failure). The better way to manage it is to reduce your exposure each time you open new positions (you can measure that in different ways) and try to find some conditions like low volatility markets (you can try and see if the price history graph is stable) and equilibrium between back and lay. The low volatility is good but you have to have some to trade the two sides.

You can also monitor the market conditions in other places like bookies and try to see sudden changes. Many of the bookies want to save costs and try to follow a market leader leaving others to evaluate the probabilities (or intrinsic value). Try to find which one in your case (usually depends on the sport).

I do think that if you learn excel it would be great but if you prefer not you can also implement some strategies on B.A.

[2020vision]

Thanks for your comments - I shall give it some thought.

Ttfn - Michael