tick offset stopp loss

[chipedge]

any suggestions on how to best achive aims...

i want to back a horse in-running at £200 to then be green on horse when price comes in 9 ticks.... lets say £30 green

however if the markets goes against me i want to set up a stop loss so i dont lose my £200 stake when i put in stop loss 9 ticks it can leave me with more liability than my £200 back.

what do i need to do? tick level loss or use the sliding option?

may aim is to be green on horse £50 if market goes my way or have £50 liability on horse if market goes against me!

thx

[GaryRussell]

I'm afraid the program cannot support your requirement exactly. The tick offset and stop loss features do not allow you to specify a desired profit or loss. You can set a 9 tick offset and 9 tick stop loss, but the profits will vary depending on what odds your back bet is matched at.

1) In tick offset options set 9 ticks and tick "Auto level".
2) In stop loss options set 9 ticks, tick level loss and enabled.

If your back bet is matched at 3 for example then a lay bet will be placed at odds 2.82, stake £212.76 locking in a profit of £12.76 if matched.
If the best back odds go up to 3.45 or higher the stop loss will be fired at the best back odds plus 1 tick. So if the best back odds go up to 3.45 then a stop loss bet will be placed at 3.5, stake £171.43 to lock in a loss of £28.58

In the above example you would have to set the tick offset at 30 ticks and the stop loss at 19 ticks to achieve a level profit of £50 or level loss of £50. Also you should be aware that if the odds go straight past the number of ticks specified then the stop loss could be placed at those higher odds locking in an even bigger loss.
The ticks you need to set will vary depending on what odds you intend backing at.

[chipedge]

thx for the info thats great...