Forum

[raldridge]

What do you suggest is the required bank size for the trading bot if using the default settings of the bot and using the minimum Betfair betting size unit which here in Australia is $5?.
Robert

[BfBotManager]

Hi Robert,

There are no "default" settings that we recommend. You need to configure bot by your strategy, so that all work is done automatically by bot.

Betting bank size depends on your strategy and the way you are betting. You should always have enough available funds in your Betfair wallet so that bot can place bets properly without exceeding your available balance.

More on trader bot strategies can be read in members section and V2 sub forum.

Regards,
Rade

[raldridge]

Ok, here are the settings that were set up in the trader bot when I first used it ( I took these as being the default settings )
bet size $4
max profit $50
max loss $50
min back odds 1.5
max back odds 6.0
min lay odds 1.5
max lay odds 6.0
max back overround 115.0%
min lay overround 85.0%
use back and ratio 15%
loss pot recovery 50%
loss amount to recover 100%
settings off tools menu
get matched/unmatched in interval 3 seconds
get settled bets in interval 60 seconds

trader bot settings
max number of trades per runner 3
max number of trades per race 3
start trades during in play
start betting before in play 20 minutes
keep betting in play 10 minutes
if possible bets persistence should be - keep

Now if running the trader bot with these settings what size should the betting bank/Betfair account be?.

Robert

[BfBotManager]

Hi Robert,

It is always easier to post screenshots of your settings instead of writing them down. It is easier for everyone if you post screenshot. Following forum thread explains how to do that:
http://www.bfbotmanager.com/phpbb3/view ... ?f=4&t=468

Regarding your settings, if your stake is 4$ and your max price is 6.0 then you must have at least 4$ x (6.0 - 1.0) = 20$ available to place Lay bet at your max price.

If you are using loss pot recovery then even more money might be needed to do the recovery properly.

As the profit and loss can go up and down you should also ensure that there is enough money to cover losses.

You should not start betting with real money and with those settings unless you have clear idea about your strategy and the way how bot should work and what you want it to do. If you do not have any strategy then it is very likely that you will lose money.

I suggest you read following threads before proceeding with betting with real money, it might give you idea how other people use trader bot:
http://www.bfbotmanager.com/phpbb3/viewforum.php?f=10
http://www.bfbotmanager.com/phpbb3/viewforum.php?f=15

Regards,
Rade

[cartex]

Hi robert,
Rade also uploaded an excel sheet to this forum where you can put in your betting bank size,average odds,recovery and inital stake to see how your recovery rises as you bet and how long losing runs your bank can handle. I can't find it right now. But try to search the forum and you might find it. That sheet is useful now and then so get yourself a copy

These are keywords thay might be useful in the search: Back-Lay Losing Sequence Exposure Calculation

cartex