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General discussion about Bf Bot Manager v3 software for Betfair, Betdaq and Matchbook betting exchanges
By SSRMY
#28750
Hi all,

I'm new to the concept of automating trades on the sports exchanges. My initial idea -- which I imagine is fairly basic -- has been to lay 5th runner by favourite status on the Horses (where races have at least 7 runners. This obviously means that I ought to win most trades for small profits, and, without an effective stop loss, would likely lose significantly (i.e. the full liability) every so often -- whenever the 5th favourite wins.

My idea was to set up a stop-loss, so that the Bot would close position for a relatively small loss, whenever the loss was exceeding 10% of the maximum liability. The idea being to have many green trades, with the odd red trade (reduced to a minimum loss by the stop-loss).

Based on my first few trades, the stop-loss I set up seems to have worked in some instances (-0.76 red), and completely failed in others (-14/ -15 , which was the full liability).

I was just wondering if anybody else had experienced this, and knows what I'm missing. I think it may have something to with the ratio of back book & lay book %, but if i'm being honest I really have no clue at all. It seems when the trade begins to go the wrong way, the bot is unable to fulfil a close-out bet before the loss accumulates.

Image

Thanks in advance,

SSRMY
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By BfBotManager
#28755
It appears that you are trading during in play and prices can change very fast during in play, so it is not possible to close your position in some cases or it is only possible to close it at much worse odds resulting in higher loss.
By SSRMY
#28758
Thanks for that! I suppose i've been assuming that Horse prices would be stable for long enough, over the course of long distances (relative to greyhounds, for example), for the strategy to work. I don't think the strategy translates well to the pre-start period, as price movement is unlikely to be kinetic. Back to the drawing board!