Author Topic: FORMULA FOR LAYING AT SP!  (Read 1246 times)

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FORMULA FOR LAYING AT SP!
« on: 08 Aug 2019, 12:23 »
My head is spinning guys I have tried all the (TR) options on example triggers, searched everywhere on the forum but this simple formula is not easily found.

After backing a selection at multiple prices i need to simply lay the selection at SP taking the profit or loss. What is the formula that allows for the minimum £10 liability
(The liability is always more than £10 )

Using any other method  (distribute loss green up etc )does not give a price advantage that SP gives but after a pile of sweat for 3 weeks i thought MCbee could come to my rescue on this !
Here's hoping ::)

Thanks 
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Re: FORMULA FOR LAYING AT SP!
« Reply #1 on: 10 Aug 2019, 10:58 »
Hi betfair winner

Could you use an IF statement to ensure the lay at SP amount is always above the min liability?

IF([your current trade out formula]<10.00, 10.00, [your current trade out formula])

for example, if you wanted to simply lay the total back matched amount at SP:
LAY AT SP, Liability: IF(back_matched<10.00, 10.00, back_matched)
 
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Re: FORMULA FOR LAYING AT SP!
« Reply #2 on: 14 Aug 2019, 16:26 »
Hi Mark V 
Many thanks for replying to my dilemma. I can confirm that when i try this formula the liability is equal to the stake as opposed to the back payout. This under hedges the trade.

If for instance i have back trades at £25 at 4.5 and £15 at 5.5 and the sp is 6 the formula you suggested places a liability of £40 at an sp of 6 means the effective stake is £7.27 leaving a big exposure if the selection loses . The potential payout is £155 so this has to be the liability.

Sorry but i already tried this kind of thing and this was why i needed your help .
Any other suggestions appreciated Cheers Mark :) 
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Re: FORMULA FOR LAYING AT SP!
« Reply #3 on: 14 Aug 2019, 18:22 »
as the bsp is not known only other suggestion is rather than using LAY AT SP action:

LAY, amount: back_matched, option match at sp
price: your choice of near sp, far sp, or r_ticks(bm_backavp, -x), or just to match at sp 1.01

this will lay off your back liability for either profit or loss, which if you wish you can hedge immediately inplay    
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.

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Re: FORMULA FOR LAYING AT SP!
« Reply #4 on: 31 Aug 2019, 06:48 »
Hi MarkV 
I am still struggling with a lay sp trigger that will give the similar result to the excelllent "trade out" trigger 

I know the sp is unkown so to get a prefect hedge on a back bet to the correct liability is a guestimate however within reason this can be done.

i have been using this formula but it over hedges (bm_backp*back_matched)*back_price-1
lets assume i place £20 back at 6 and the price before and after the bsp was also 6, the lay sp  trigger should get a 0 result ?

This happens with the tradeout trigger but has no ability to take BSP 
Do you know the formula used in the trade out trigger so i can put that formula into the lay sp trigger?
Thanks Mark V
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Re: FORMULA FOR LAYING AT SP!
« Reply #5 on: 31 Aug 2019, 17:41 »
Happy to confirm that i have cracked it !
The formula for a lay at SP that should be close to an even hedge assuming there are no major price changes just before the off is this
 (lay_price-1)*((back_matched*bm_backavp-lay_matched*bm_layavp)/lay_price)
you can bias this hedge depending on how good the original back is by putting a *0.9 etc at the end if you feel the original bet is strong. Alternatively hedge heavier if the original is drigting badly with a *1.1 or varient.
Hope this helps all those who need a level lay sp hedge of a back bet, where there is a price advantage longer term. ;D
Andy  
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