Tick offset

[Cash56]

Gary

TICK OFFSET(Financial and Tennis trading where odds flip-flop every second)

Am a new trader and to this forum. Please can you help me.

All am trying to do is place a Lay bet, say @2.20 as the odds move upwards-(that is, as they move up towards 3 or 4 or 5 etc), get it matched, then after it's been matched, place a Back bet(@2.20) to cancel the original Lay bet (as the odds drop to 2, 1.9, 1.8 etc). Every time I set the Tick offset before placing a bet, the BA (version 66) instantly triggers a contra bet each time I place a bet regardless how many ticks I put.

I want it to Offset ONLY when the odds try to drop below my initially matched Lay bet.

Truth is, the BA-66(latest) is so good and I think its the best out. Please keep up the good work.


Thank you so much

Cash56

[GaryRussell]

That's how tick offset works. It places an opposite bet offset by the ticks specified when the first bet is matched. I think what you are really asking for is a stop loss.

The closest you can get to what you want in BA is to set a stop loss of 1 tick.
Select the stop loss tab, enter 1 in the ticks box, and tick enabled. Do this before placing your lay bet and don't forget to untick enabled after placing the bet otherwise a stop loss will be associated with each subsequent bet that you place (unless you actually want a stop loss that is).

If the best lay odds drop to 2.18 or below then a back bet will be placed at the best lay odds minus 1 tick. It's not exactly what you are asking for, but I'm afraid it's the closest available at the moment.

[Cash56]

Gruss

Thanks for your reply. Been looking for more options- but first let me fill you in on what am trying to achieve:

Say in Tennis where you have players A and B:

Say B is losing the match and you Lay him @2.20 x £50 when his odds are rising and A's are dropping towards 1.01 (to close A @1.01 x 60), so making a profit of around £50 before commission.

Now-suppose the odds between the two players start flip-flopping and B's odds (during the game) instead start dropping towards 1.01 and you have to cancel his initial Lay of 2.20 x 50.

The BA v66 looks big and strong enough to handle this situation -its just that I do not know how.

Earlier on you suggested the Stop loss. Bear in mind that some odds in somes matches have wider gapes(say Back 2.10 & Lay 2.22). I should believe (in this situation) that one has to place enough ticks to trigger below 2.10 if the initial MACTHED Lay bet is 2.22 or else if one chooses ticks that trigger a Back bet above 2.10, it will match as the odds ascend.

Therefore, to aleviate this hussle and bussle, how about using the Conditional Betting?? As I said, the BA is a very clean and big enough software to handle what am talking about-considering all the sweat and hard work that's visibly been attached to it. Very good work. I think its the BEST for sure.

Therefore, I still can not accept that a mint and excellent tool like that can not handle my predicament.

I know you have got the answer for me. I think there is an angle I am missing.

Please help me out with this one -- I have spent hours and days sweating for an answer.

Thanks a lot
Cash56

[chaser]

Hi Cash56

I see that you have recently joined, so welcome to the forum.
I don't really follow your example; but have you tried setting up the situation you wish to achieve using the Conditional Bets feature ?
I use it all the time,it's a very versatile and powerful tool.

Chaser

[Cash56]

Hi Cash56

I see that you have recently joined, so welcome to the forum.
I don't really follow your example; but have you tried setting up the situation you wish to achieve using the Conditional Bets feature ?
I use it all the time,it's a very versatile and powerful tool.

Chaser

Chaser

Thanks for you help.

Ok -This is an example of what am trying to achieve:

Say I: LAY (either A or B) @ 2.20 x £10 (liability=£12)

At the end of the event:

Again LAY the WINNER ( either A or B) @1.01 x £12

Then my PROFIT at the end of the event = £10 ( pre-commission)

Chaser-I hope you can see the potential here. Its massive!

Trouble is -How do I deal with flip - flops, that is, when the odds starts running away from the plan-so to speak.

Ok -All I need is a method or tool, that can cancel the initial Lay should the odds change against me. Thats all.
I think your idea of the Conditional Bets is good. Only am a bit confused as to how I can fit it into my system.

Please help me with this. You can send via my email if you feel its necessary.

Recap: All am saying is how do I reverse my initial LAY of say 2.20 x£10 should the odds start dropping(remember, I would have layed this when the odds were rising). Hope this is clear this time.

Chaser, please help me with this - am really desperate after more than a week of digging for a solution. Everything in my life depends on what you say.

Thanks a million
cash56

[GaryRussell]

Bear in mind that some odds in somes matches have wider gapes(say Back 2.10 & Lay 2.22). I should believe (in this situation) that one has to place enough ticks to trigger below 2.10 if the initial MACTHED Lay bet is 2.22 or else if one chooses ticks that trigger a Back bet above 2.10, it will match as the odds ascend.

You would need to measure the size of this gap if you are going to place a the back bet based on the back odds. If the gap is too big you would be taking poor value, this is why the stop loss feature uses the lay odds. The stop loss and conditional betting features do not have a facility to check the size of this gap. You would need to use the Excel triggered betting feature. I suspect this is not the route you want to go down so BA is probably not the best solution for you at this time.

[GaryRussell]

If my previous reply does not answer your query and you still think BA has got the solution then you are going to have to be a lot more specific. It's not enough to say "as the odds drop...". Which odds: back, lay or last price matched? You will have to decide which odds are going to trigger your back bet to cancel the lay.

So we need a statement something like the following.

Example 1: If the lay odds are less than matched lay odds then place back bet at back odds less 1 tick.

Example 2: If the last price matched is less than or equal to matched lay odds then place back bet at last price matched.

Example 3: If the lay odds are less than matched lay odds and the gap size is less than or equal to 2 ticks then place back bet at back odds minus 1 tick.

Example 4: If the back odds are less than matched lay odds and the gap size is less than or equal to 2 ticks then place back bet at back odds minus 1 tick.

I hope you can see what I am getting at. There are number of ways in which you can decide to place the back bet to cancel the lay and I don't think we have enough information from you to give you a definitive answer. This is why you are getting frustrated.

[Cash56]

Hi Cash56

I see that you have recently joined, so welcome to the forum.
I don't really follow your example; but have you tried setting up the situation you wish to achieve using the Conditional Bets feature ?
I use it all the time,it's a very versatile and powerful tool.

Chaser

Chaser

Thanks for you help.

Ok -This is an example of what am trying to achieve:

Say I: LAY (either A or B) @ 2.20 x £10 (liability=£12)

At the end of the event:

Again LAY the WINNER ( either A or B) @1.01 x £12

Then my PROFIT at the end of the event = £10 ( pre-commission)

Chaser-I hope you can see the potential here. Its massive!

Trouble is -How do I deal with flip - flops, that is, when the odds starts running away from the plan-so to speak.

Ok -All I need is a method or tool, that can cancel the initial Lay should the odds change against me. Thats all.
I think your idea of the Conditional Bets is good. Only am a bit confused as to how I can fit it into my system.

Please help me with this. You can send via my email if you feel its necessary.

Recap: All am saying is how do I reverse my initial LAY of say 2.20 x£10 should the odds start dropping(remember, I would have layed this when the odds were rising). Hope this is clear this time.

Chaser, please help me with this - am really desperate after more than a week of digging for a solution. Everything in my life depends on what you say.

Thanks a million
cash56

Gary

Please have a look at my last post which, I believe, is more detailed enough. Gary, that is my main plan. The other thing- I LAY only because mathemetically, I think Backing is a bit expensive and only good for correctional entries. Laying depends on size of odds(2.20 compared 6.90)

I think my last post is explains it all. I am positive the Condional Bets can take care of this.

As I said, all I want is the BA to place a cancellation BACK bet to my initial LAY bet of say 2.20x10 as the odds tumble from 5.0 or 4.0 or 3.0 or 2.50-(PLEASE note that the initial matched 2.20x10 is placed ONLY when odds are rising from 1.99, 2.10 2.15 and you place/match it at 2.20 as it continues rising-to 2.30-2.5-3.0 and so on. NOW should the odds change direction -towards the matched 2.20 THEN thats when I need a CONTRA BACKING @2.20x10- just to cancell the initial LAY bet.

Then I pick the next 2.20 (either fo A or B) and repeat unttil the winner A or B 's LAY odds touch 1.01 and the I push in a LAY bet at 1.01 x LIABILITY

Then I make a big profit.

I have done this manually on the Betfair interface but found it a bit tricky to place the BACK bet whickh usually would land a wrong odd.

All this is done in In-Play.

Gary-here we assume the odds are flip -flopping from A to B willy nilly

By the way-this is stictly for Tennis-Fiancials-snooker (not football)

Please pardon my lack of jargon in this field. As I have said before-the BA is well capable of doing what I want.
Please Gary read carefully my prev post + this one and am sure you will get the picture of what am saying.

This time I am sure you ll see the picture Gary- How can I solve this then?
Chaser mentioned Conditional bets.

Guys I am desperate this time-almost hysterical.

Please let me know Gary
Cash56

[GaryRussell]

Sorry, but I don't think you get my point. Please read my last post again.

NOW should the odds change direction -towards the matched 2.20 THEN thats when I need a CONTRA BACKING @2.20x10- just to cancell the initial LAY bet.

1) Which odds? There are three possibilities: back odds, lay odds or last price matched. Which of these do you want to trigger your back bet?

2) When the back bet is triggered at what odds should it place the bet? 2.20, back odds, lay odds or last price matched. If it's back odds, lay odds or last price matched should it be offset by a number of ticks to get a better chance of being matched?

Sorry to be blunt, but if you cannot answer these two questions I cannot tell you if BA can satisfy your requirements or not.

[Cash56]

Hi Cash56

I see that you have recently joined, so welcome to the forum.
I don't really follow your example; but have you tried setting up the situation you wish to achieve using the Conditional Bets feature ?
I use it all the time,it's a very versatile and powerful tool.

Chaser

Chaser

Thanks a lot-I am gonna try the Cond Bets. Seams my story is hard for everyone to follow. I can not explain better than this.

Please pass me anything about the Condional Betting

Thanks
Cash 56

[GaryRussell]

I am sorry if you think I am being unhelpful, but my questions are not unreasonable. I like to give precise answers. When you use the conditional bets facility you will see what I mean, you will have to choose which price it should be monitoring.

Please look at the user guide Here and view the conditional bets section.

Here is a demo video of conditional bets.

[chaser]

Hi Cash56
Have been away for a few days so just caught up with your posts.

You place a LAY bet £10 at 2.20, when the odds of your selection are lengthening. Presumably you have a target price, if the odds continue to drift out, at which you will place a BACK bet, and 'green-up' to secure a profit ?

Your concern is if the drifting odds don't reach your target and reverse back past the odds of your LAY bet. So set up a conditional bet say :-
'If the back odds <= (say) 1.90, then BACK bet at the back odds for £10 which limits your liability. Is that what you want to achieve ?

What I don't understand : You place a LAY bet £10 at 2.20, and you then talk of placing another LAY bet at 1.01 at £12 (your liability). This gives you another liability of £0.12, when it looks as if the selection is almost certain to win.

As I only trade horse racing markets, perhaps there is something about the volatility of Financials/Snooker/Tennis, that I am not familiar with.

regards
Chaser

[Ian]

If you want to lay @ 1.01, can't you just put a bet for both sides as soon as the market goes in play ?

[Cash56]

Hi Cash56
Have been away for a few days so just caught up with your posts.

You place a LAY bet £10 at 2.20, when the odds of your selection are lengthening. Presumably you have a target price, if the odds continue to drift out, at which you will place a BACK bet, and 'green-up' to secure a profit ?

Your concern is if the drifting odds don't reach your target and reverse back past the odds of your LAY bet. So set up a conditional bet say :-
'If the back odds <= (say) 1.90, then BACK bet at the back odds for £10 which limits your liability. Is that what you want to achieve ?

What I don't understand : You place a LAY bet £10 at 2.20, and you then talk of placing another LAY bet at 1.01 at £12 (your liability). This gives you another liability of £0.12, when it looks as if the selection is almost certain to win.

As I only trade horse racing markets, perhaps there is something about the volatility of Financials/Snooker/Tennis, that I am not familiar with.

regards
Chaser

Chaser

Finally have solved my problem after more than 20 days(Gary is going to pinalise me coz I still have not used the BA and only 7 days left)

Today I am going to test my strategy using the Conditional bets. I am sure from what you said it will work.

I ll keep you guys posted as to how am doing.

By the way, when does the Conditional Bets trigger? Can I trigger it whenever I want it to??

Again thank you so, so, so much. I am now very hopeful.
cash56

[GaryRussell]

By the way, when does the Conditional Bets trigger? Can I trigger it whenever I want it to??

It triggers when the criteria are met and not before the time specified in the "Trigger after" column.