Formula Help

bp = lp/(1 - P*(lp-1)/(1-commission))

ba = lp*la/bp

Where: 

bp = back price
lp = lay price
ba = back amount
la = lay amount
P = profit percentage/100

See the example attached.

Hi @Oxa

Can you please help me understand how can I can calculate the next valid odd? This is especially true with odds of 2.00+ as the tick increment changes.

Example: lay odd 2.60, attempting to get 10% profit on a 5% commission market using the bp = lp/(1 - P*(lp-1)/(1-commission)) formula

2.60/(1-0.10*(2.60-1)(1-0.05)) = 3.126582 (back price)

Since there is no 3.12 odd the only near "valid odds" are 3.10 or 3.15.
I have tested and confirmed that MF will correctly calculate the valid odd (3.15= when placing a bet but this has an impact placing the correct amount to hedge using "ba = lp*la/bp" formula as the bp used to calculate was 3.126582.

Thanks

Hi

Any suggestion on how to achieve that?

I couldn't find a rounding function or something related to that. Perhaps using b_tick?

Thanks

The standard green-up trigger action is better at handing these errors, so it's better to use it rather than manual backing/laying. The easiest way to get a 10% with 5% commission in mind is to factor that commission into the profit percentage (see the example trigger attached).

Hi Oxa,

Thanks for your reply.

I thought about using the green-up trigger as well. But as I mentioned in the first post "the "attempt to green up" trigger will do the math for the stake and not liability". So it's great for a back-first trade but not for a lay-first.

I even thought about placing a standard 2 bet just to check what the odd would be and then place a second bet with the reaming hedge amount.

Do you see any other viable option for this?

Thanks

Hi Oxa,

Thank you very much. It works as planned.