Stop-loss funtion

[bmann13]

Hi Gary and everyone in this great forum,

I know this can probably be done in excel, but here goes anyways. I am looking for a stop-loss function to use in-running for laying and backing purposes.

Now, if I am laying a horse at say 3.0 but it goes on to win, I would like to place a stop-loss say 4 ticks a way to limit my losses. I know I could use the trading function but so many times I will wait to see if the odds will drift out again only to lose. By using a stop-loss function, the trade is completely taken out of my hands. It would be great if this function could be put on a new version instead of trying to do it from excel.

I know there are some excel wizards in this forum, but a man should now his limits and I must admit I am a dumb&@$ when it comes to excel or any kind of programming. Any suggestions and help will be much appreciated.

Thanks in advance.

[one cool dog]

Hi there.

This is something that interests me a lot, as I lay in-running and would love some way to at least get some back if I make a error call. I have a brilliant idea the other day which is completely impossible but the stop/loss thing does interest me.

Any working examples etc would be greatly appreciated as I am a dumb ass on Excel as well.

[GeorgeUK]

This is a little difficult to do with just a formula, so putting code into the workbook_change event is probably required.

I was going to look at this as my workbooks became more complete, but things have tailed off somewhat and have not even looked at this.

A stoploss after a bet has been accepted should be fairly simple to do.
The logic:
If selection has betref (then bet has been made)
If current odds <= Sum(bet odds - 4)
then lay odds for x amount to activate stoploss

This would be the basics of what the code would look at, but would you want this to fire automatically?
You would need to be very certain of the rules you were setting up before allowing this to run.
An alternative may be that the selection changes colour when the stoploss should be activated.
You would also need to be careful that the code only fired once, so putting data in another column for that selection may be appropriate so the code can check to see if a stoploss has already been fired for that selection.

You've got me curious now OCD - what's this brilliant but impossible idea??

[BlueBoy]

see

http://www.gruss-software.co.uk/Excel_S ... rigger.xls

[bmann13]

GeorgeUK & BlueBoy,

Thank you for taking interest in my post.

GerogeUK, I would want the order to fire automatically as soon as I lay my selection. This way I will not hesitate when I need to get out. Sure, sometimes the odds drift out and then the bloody horse still goes on to win. I would rather take a small loss then a big one.

BlueBoy, sorry to be a dumb@$$ here but how would I exactly place the orders in the xl sheet? I really would like to test it with small stakes first, say 0.10 to be on the safe side. So suppose I want to lay 0.10p @ 3.0 and place a stop-loss exactly a point away (ie. @ 2.0), how would I do this on the sheet...sad I know . Will the stop-loss be sent as soon as I place the bet when the odds shorten to 2.0?

Thanks for all the help guys.

[Mitch]

Unfortunately you can't fire the stop-loss bet straight away because it will just get matched immediately at best available odds.

Definately do-able though.

[one cool dog]

Hi George

I am, unfortunately, a moron and did not get a simplistic fact the other day, even though I though my idea was brilliant.

Basically, it was insurance that you never lost - that's basically where it falls on its backside. Don't get me wrong, I'm not genuinely thick or am a virgin user of Betfair, I've been using it for years, I just thought it was possible given a few things that happened by accident.

Let me paint my picture. I lay purely in-running as I am a semi-pro racereader and Gary's software as given me a brilliant new angle into this.

I will identify horses in-running who appear to be going poorly and will override a lay at a max of 12.0 on BA. I have made just over £900 in 2 months doing so, but have probably lost 2/3 of that in poor judgement to, so I have been doing some bank repairing recently while I semi-die of flu. I never blew the bank completely, nowhere near, just want to get it back to the level I feel comfortable withdrawing again.

So, let's say I lay a horse early who appears to be not going well - don't do it kids because they are a killer - and I am sitting on a bad bet that is not going to go out anywhere near what I laid at. You have to sit and just hope it finds zilch. Or, a horse just catches you out at a smaller price and you lay it a couple of times - by the way, I don't have verify bets ticked on BA either.


My big plan was to have an amount ready to be triggered at 1.5 to nulify the whole bet. Basically, so it said 0.00 next to every horse rather than greens and reds. Now I was sure, by mistake probably, that I have hit the back button rapidly before when I thought I was going to lose and somehow, once, it had got me all green - my standard override back price on BA is 1.5.

So rather than keep whacking the back button as fast as I could, I thought there might be a way of setting a trigger to back a horse - Id have to do it during the race knowing the potential loss - if the horse I laid went 1.5. All of my logic was completely flawed and my maths sucks. I can handle a horse I laid hitting 1.5 and still losing - which is always easily possible - but laying and not regaining anything does irk me if I get it wrong.

I don't have a massive bank to play with but I do have the advantage of using SIS feed, and they are a massive advantage let me assure you. If I am quick enough, and my judgement is sound, I could potentially make some half-decent money, and I would gladly cut someone in if they had good ideas how to stop whacking losses being taken - after thorough tetsing though. The worst senario is usually when a race effectively becomes two runner, over fences, one looks beat so you lay it, but the other finds nothing and you don't know which way to turn, as you have massive reds on both in the end!

If anyone has any ideas on how it can be achieved or if stoploss is the way, please give me a shout.

[GeorgeUK]

OCD - i'd stick to a stoploss for this. Too much can go wron which would be very expensive.

Say you are laying a horse @ 11 for a libility of 100
it leads and hits 1.5
to cover your loss you would need to back for 200

fair enough - if the horse then wins. You break even for 0.00 profit/loss

If the horse then falls back and loses, you lose 190

Stick to a stoploss and an amount you can live with losing.
At least for me - that would be too risky.

You could even have the stoploss 1 sided so that it breaks even at a certain loss amount, although there is no guarantee you will get the odds you want.

George