Author Topic: Best method of trading out for a loss  (Read 7312 times)

Tags:
  • All members
  • Posts: 32
  • Gender: Male
Best method of trading out for a loss
« on: 11 Jul 2024, 07:53 »
Hey, I've created a system that places multiple trades on different selections in each event if certain criteria is met. I'm just having problems placing the exit trades for a loss if the market moves against me. My system (back to lay) places a back bet at current price and a lay bet with 2 tick offset but due to have multiple trades at different prices, I can't trade out at 3 tick offset. The only thing I can think of is to create user variables per bet and then place lay bets if the price reaches 3 ticks above the variable but then again I don't know how many bets there will be or how many variables to use.

Anyone know the best way to trade out when you have multiple trades?

  • Moderator
  • Posts: 3640
*
Re: Best method of trading out for a loss
« Reply #1 on: 11 Jul 2024, 12:39 »
Hi
This depends on how exactly you want to trade out i.e. 3 tick loss per each losing back bet, or a loss against multiple bets per selection, or overall p/l in the market. Here are a few suggestions and you can see which best fits your needs.

https://marketfeeder.co.uk/learn/triggers/greening-up-on-multiple-positions-with-a-target-profit/

https://marketfeeder.co.uk/learn/triggers/collective-greenup/

or use a trigger action: match unmatched lay bets, with conditions as needed. e.g.
selections lay price is equal or greater than r_ticks(bu_layavp, 3)

so in the above condition all unmatched lay bets on a selection will be matched at best available price if the current lay price is 3 ticks higher than average unmatched lay price of lay bets on the selection.

try these in test mode and see if any do what you need
   
Please read the following disclaimer with regards to the information you may request and obtain on our forum. This specifically concerns trigger files and various instructions as to how to implement a strategy.

  • All members
  • Posts: 32
  • Gender: Male
Re: Best method of trading out for a loss
« Reply #2 on: 11 Jul 2024, 19:01 »
Hi
This depends on how exactly you want to trade out i.e. 3 tick loss per each losing back bet, or a loss against multiple bets per selection, or overall p/l in the market. Here are a few suggestions and you can see which best fits your needs.

https://marketfeeder.co.uk/learn/triggers/greening-up-on-multiple-positions-with-a-target-profit/

https://marketfeeder.co.uk/learn/triggers/collective-greenup/

or use a trigger action: match unmatched lay bets, with conditions as needed. e.g.
selections lay price is equal or greater than r_ticks(bu_layavp, 3)

so in the above condition all unmatched lay bets on a selection will be matched at best available price if the current lay price is 3 ticks higher than average unmatched lay price of lay bets on the selection.

try these in test mode and see if any do what you need
   

  • All members
  • Posts: 32
  • Gender: Male
Re: Best method of trading out for a loss
« Reply #3 on: 11 Jul 2024, 19:03 »
Hey,    I will be trading as the price bounces and I've set it up so that it calculates the back and lay stake to make a profit. So say the odds are 2.02 then ill enter with a back bet at 2.04 and a lay bet at 2.00 so the stakes are determined by the profit target and the current price. If the prices swings up let's say then ill want to trade out on that trade with the minimum loss so if it rises to say, 2.10 then ill wanna trade out at that price with minimal losses.    I'm aiming to do this 3 times per race so if the price is static then towards the start of the race, I could potentially have 3 unmatched back bets and 3 unmatched lay bets. I'd obviously cancel all bets if this was the case but I could end up with 2 matched back bets, 1 unmatched back bet and 3 unmatched lay bets. If this is the case I wanna cancel bets and trade out for minimal losses. Cheers.

  • Moderator
  • Posts: 3640
*
Re: Best method of trading out for a loss
« Reply #4 on: 12 Jul 2024, 14:36 »
Hi
Need to see the trigger but: 

To trade out an individual trade for a 3 tick loss evenly spread across all selections:
DISTRIBUTE LOSS BETWEEN SELECTIONS
based on ticks. stop-loss ticks 3
cancel unmatched first ticked
against last matched bet ticked
once per selection
plus any conditions that you need

To trade out a selection with any number of matched or unmatched bets e.g. 30 secs before the off:
TRADE OUT
cancel unmatched first ticked
once per selection
conditions:
markets minutes before the off is less than 0.5
and selections trigger expression tradeout_net is less that 0 

(the last condition confirms the selection is in loss) 

 
Please read the following disclaimer with regards to the information you may request and obtain on our forum. This specifically concerns trigger files and various instructions as to how to implement a strategy.

 

Please note, BetFair is seems to be currently OFFLINE