tick offset/Stop loss

[wisey39]

hi i trade in running using the ladder interface.i have just started using the tick offset wich has improved my trading considerably.the thing i get caught with is if i submit a back bet and the market goes against me i lose my back stake as the price goes out very quickly.i was thinking of using the stop loss but am not quite sure how it works.am i right in sayi ng if i back at £50 @ 4 and have the stop loss 4 ticks higher if the market goes against me it will submit a lay of £50 at 4.4.can you also use this at the same time as tick offset,so i back at 4 and tick offset is 2 ticks lower for a lay and also stop loss 4 ticks higher.any help appreciated.thanks

[MarkRussell]

Hi,

You are almost correct.....in your example the Stop Loss would be submitted at 4.5, so when the price reaches 4.4 the Stop Loss is submitted at 1 tick higher to try and ensure that you get matched, however obviously in a fast moving in play market there is no guarantee that your Stop Loss bet will be matched.

You can use it at the same time as Tick Offset and you might want to consider using the Sliding option of the Stop Loss.

And if you are going to be using the Stop Loss in play please upgrade to the Beta version as there is a problem that can affect Stop Loss in play.

Please see http://gruss-software.co.uk/forum/viewtopic.php?t=3922 for details of how to upgrade.

Regards,
Mark

[wisey39]

thanks for the reply.when the stop loss kicks in does it automaticaly red up or just submit a lay stake the same as my back stake and then i red up manualy.thanks again

[GaryRussell]

Tick "Level loss" in the stop loss options and it will automatically red up. If the option is not ticked it will use the same stake.

[wisey39]

thanks again.if my price is 3.8 does 1 tick count as 3.75 or 3.7 if i am using tick offset.ie does the .5 count as 1 tick.thanks for all the help.

[GaryRussell]

One tick is equivalent to 1 increment in the odds accepted by Betfair, therefore 1 tick down from 3.8 is 3.75.

Also you should be aware that the stop loss is triggered by the best back/lay odds, not the last price matched. eg. if you back at 4.0 with a 4 tick stop loss, the stop loss will be triggered if the best back odds reach 4.4 or higher. Also if the odds jump straight past 4.4 to 5 for example the stop loss bet will be placed at 5.1 (5 plus 1 tick), not 4.5.

[morselis]

Hi Gary,

Possible is "Auto Level" from Tick offset as default option (like "Keep in play") ?

I write about this in another thread but don't become any answer .

Thanks,
Robert

[GaryRussell]

It will be made an option in a future release.

[morselis]

Thanks

[thunderfoot]

You are almost correct.....in your example the Stop Loss would be submitted at 4.5, so when the price reaches 4.4 the Stop Loss is submitted at 1 tick higher to try and ensure that you get matched, however obviously in a fast moving in play market there is no guarantee that your Stop Loss bet will be matched.

Is this a 'yikes' moment!!! ..... so if the market goes very quickly past your stop-loss of 4.4 (4.5), say onto 4.6, you could be left with an open market ?

[GaryRussell]

Yes, you can be left with an open position. I will be adding an option to specify the number of ticks to offset the request by, but you have to draw the line somewhere. Surely nobody in their right mind would want it to lay at 1000 if it suddenly went up to that.

[thunderfoot]

Surely nobody in their right mind would want it to lay at 1000 if it suddenly went up to that.

Totally agree .... but nobody wants to be left with an open market either, so we need to find a happy medium. Can the stop-loss be set with a Bet range, say 4.4 to 5.0, or a tick range of 6 or something ..... would rather LAY at 6.0's than leave a BACK bet of 4.0 open.

[osknows]

Would be really nice to have a fill/kill option on the offset/stop loss as part of this