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  • #1 by betfair winner on 08 Aug 2019
  • 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 
  • #2 by MarkV on 10 Aug 2019
  • 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)
     
  • #3 by betfair winner on 14 Aug 2019
  • 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 :) 
  • #4 by MarkV on 14 Aug 2019
  • 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    
  • #5 by betfair winner on 31 Aug 2019
  • 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
  • #6 by betfair winner on 31 Aug 2019
  • 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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