ARTICLES & TIPS

Using the price direction tool within Multiple Favourites bot


Written by DodgyDog, 1st November 2011


For any questions regarding this article/strategy please use article forum thread and ask DodgyDogdirectly!

As we have seen from previous updates of the V2 Multi Bot there is always something new and interesting to get to grips with. Now and then we look at the list of new functions and something always seems to stand out. On a most recent update the one new function that stood out to me was the percentage price direction tool. This one tool opened up new possibilities for betting on in running or in play markets with the Multi Bot. If used correctly and with a little bit of thought in certain markets we can increase our chances of been in profit at the end of the each event.

Today we will see how we can use this tool in football markets and hopefully put ourselves in a good position to win or break even. I will use the correct score markets as an example, most notably the 0-0 score market. I chose this market because of its one directional price movement in play, namely downwards only. When a goal is scored the market closes. I will start by laying the 0-0 score line with the user bet function. Then I will use the price direction tool to counter trade or back the score line in play with the main Multi Bot itself. I am hoping that the hedge back bet will not trigger, but if it does I will use the same stake value as lay bet so we still have a chance of breaking even if a goal should occur. Outlined below are the screenshots of the set up for this simple yet effective strategy. It can be used on many markets from horses to tennis. The one condition is that the event must go in play. I will of course be using the Multi Back/Lay Favourites Bot and will be dividing it into two:

  • User bets for staking lay bet before start time
  • The main Multi Bot itself for placing the back bet hedge if needed in play


Setting "User bet"

As we can see in the screenshot below we have loaded the correct score market 0-0 for Stoke V Newcastle on the 31/10/11. We then tick our 0-0 score in favourite's column and again tick lay box for same market. The options window for placing User Bets is open and we have staked £5.00. As this window deals with bets before the start time we have set it to place our lay bet 10 seconds before the start the of event. When all settings are inputted we press save and move on to our main Multi Bot window and set it up to back the same score line but this time in play. We will again be using the same stake value of £5.00.
User bets settings


Record Min/Max price "Tools->Settings"

This screenshot shows our settings for recording Max/Min prices. It is set to record 5 seconds before start time only. This tool will help us with our percentage direction later on. Please insure all clocks are set correctly as the bot works from internal computer clock.
Record Min/Max price Tools->Settings


Multiple Favourites bot settings

This screenshot shows our main Favourite Settings form. You will note straight away that we are setting up to bet only once the game goes in play with advanced time settings. We are also using the price direction % tool. This I have set to 60% downwards. This is my own preference and can be changed to whatever you are comfortable with. I have also asked bot to place our hedge bet if triggered at a 20 tick lower price which guarantees our hedge bet is matched in play. You will find this tool handy for faster moving markets like horseracing. This you can open up as much as you like as our hedge back bet is set to the same stake value as our initial lay bet. I have also ticked " only place bot bets on runners that I picked by using FAV column ". This setting is vital because if it is not ticked bot will place a back bet only on a 1st favourite that trades 60% shorter in running. No Bot bet will enter the market if it isn't ticked in favourites column. Other settings on this page are self explanatory.
Multiple Favorites bot settings


Favorite by position

In this screenshot below we have first favourite position ticked to tell bot to only back our ticked favourite (0-0) in the user bet window. Any box ticked in user bet favourite column becomes our 1st favourite so we are not confined to just one bet per market. We can have multi bets by just loading markets and using the same settings. This again could be more than useful in horse racing markets. I could add the 0-1 correct score market and use the same strategy as I used for the 0-0 market. Favourite by position settings


Market monitoring settings

And last but not least we have our market grid settings. Just remember to monitor the correct number of markets you are betting on to the correct length time of the event in question. This would be a good set up for many markets. It has no guarantees of profit but I am sure you may find it of some use. It might be the start of something good for you and may trigger other idea's you have. And just one more note on recorded prices before start time. This will freeze when market goes in play and price direction will work from this point. This is why clocks need to be correct as you are trying to get price frozen as close to start time as you can possibly can. And that is that. We are of course hoping that the second back bet hedge is not triggered but at least if it is we still have a chance to break even. If we do have a loss we lose the difference in prices to stake value. You may decide to have a higher back bet stake like £6.00. But this guarantees loss if hedge is triggered. Market monitoring settings


Result

Here is how the final result would have looked. Newcastle scored after 12 minutes so no hedge was needed and bet wins full stake value of £5.00 less 5% commission £4.75. All bets are in Sim Mode unless indicated for article purposes only.
Betting results General Settings


Other uses

Other uses for this strategy:

  • Back to Lay with price direction upwards
  • Back to Lay with price direction downwards
  • Lay to Back with price direction upwards

All of the above can be manually fired in running using pause/resume button to enter first initial bet when you choose to into live market. This is great if watching the event live and you feel the market is going to go your way.



Good Hunting,
Dodgydog


Written by DodgyDog, 1st November 2011


For any questions regarding this article/strategy please use article forum thread and ask DodgyDogdirectly!