Stop Loss help

[tom24]

Hi Gary, I have been trying to use the stop loss facility with a Lay system I am using. I.e., if I initially lay a selection at 9.0, I will set the stop loss at 3.0. I use the odds box for this and set at level loss. Generally it works ok, and if the layed horse reduces to my stop loss price it backs for a small, or sometimes no loss situation.

What has been happening at times (example from tonight) is that I have layed $3.30 at 9.0, the stop loss has kicked in and backed $11.60 at 2.48(just under my 3.0 stop loss), and the horse went on to lose and I lost about $8.30.

Also occasionally, the stop loss has backed at a higher price than the initial lay.
I need to know how best to use the settings as I have read the manual and try to do as it says, but this stop loss problem is niggling me.
I know I can lose via the stop loss, but the amounts seem higher than I would like, and would have expected a more level or reasonable loss rate.

Is there anything I can do with the settings which will help, thanks, Tom.

[GaryRussell]

Sorry, but what you are seeing is normal. Sometimes the price will move straight past the stop loss, it wont always get triggered exactly at 3 in your example. The odds must have gone straight down to 2.48.

It would not have actually placed the odds at a higher price, it just got matched at a higher price (due to Betfair's best execution). This is also down to volatile odds. Next time you see this happen you can check in the transaction log under the account menu to see the odds actually requested.

[tom24]

Thanks Gary, just trying to find the best way to win consistently and minimise the effect of that big winner. Think I need to lower my stop loss figures as most of the selections get matched at the stop loss and lose, regards, Tom.