Author Topic: how to use loss recovery to recover total loss  (Read 1910 times)

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how to use loss recovery to recover total loss
« on: 04 Mar 2021, 16:26 »
I am creating a trigger using the loss recovery variable current_bet+current_lss. There is a problem when the following occurs.
1st bet results in a loss of £1 so 2nd bet will try to recover the loss of £1 plus the stake.
2nd bet is running late so there is no result yet and the 3rd event is about to start.
3rd bet checks that the "last" profit/loss was £1 loss so it will also try to recover £1+current stake.
The 2nd bet result comes in late and it is a loss of £10.
The 3rd bet result comes in and it is a win of £2 (which was the £1 loss+current stake).
The 4th bet is about to start, but it just looks at the last profit/loss which was the £10 win so it won't try to recover anything. Instead it just bets the current stake. So we are unable to recover the £10 loss since the result was too late to be counted.
How can I use loss recovery to recover the total loss rather than the last loss?

1st bet = £1 loss
2nd bet = £10 loss (but result comes in after 3rd bet is made)
3rd bet = £2 win (but 3rd bet was made before results of 2nd bet were known so it only recovered 1st bet loss)
4th bet (will only bet with stake since the 3rd bet was a win so it assumes there is no loss to recover eventhough total loss is now at -£9)

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Re: how to use loss recovery to recover total loss
« Reply #1 on: 04 Mar 2021, 21:35 »
Hi
The standard way for resolving this situation is to wait until the previous market has been settled. In probably all the staking plan example triggers you will see this condition block in the betting trigger:

AND
     previous triggered event's status is settled
     or trigger <name of betting trigger> number of runs in the market is equal to 0 (overall ticked)

With this the trigger might skip betting in the odd market after a late settled market but the loss recovery will work correctly.  
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Re: how to use loss recovery to recover total loss
« Reply #2 on: 04 Mar 2021, 22:13 »
Thanks Mark. I did consider this option but I thought there might be another way. Sometimes there might not be a result for most of the day which could mean missing out on all the subsequent events, but I guess it's best to be safe than sorry.

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Re: how to use loss recovery to recover total loss
« Reply #3 on: 04 Mar 2021, 23:42 »
You could try adding some kind of correction for bet 4 using 'total_won' or 'last_pl' (maybe 'stake - last_pl - last_won' > 0) depending on your setup - maybe having a trigger run every so often to compare 'total_won' with a starting bank constant.

If the markets are 'finished' but unsettled then you could probably set up something to anticipate the settlement (combining market_min_pl with selections price under X to presume the loss) and correct the next bet accordingly.

If the markets are overlapping in running then it may be worth trying pre-emptive loss recovery, where you'd make the next bet based on the price of the previous one. For example, if the 2nd bet hadn't settled and has £10 liability at odds of 2.0, you'd get the 3rd bet to act as if there was a £5 loss, or an £8 loss backing at odds of 5.0, a £2 loss if laying at 5.0, etc (i.e. liability*probability of losing = loss recovery amount for bet 3).

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Re: how to use loss recovery to recover total loss
« Reply #4 on: 05 Mar 2021, 06:26 »
Sometimes there might not be a result for most of the day which could mean missing out on all the subsequent events
In this case you can set a time limit for waiting for settlement after which the trigger will move on and bet in the next market. Add this condition to the previously mentioned condition block:
or previous triggered event's minutes since last suspension is greater than x  
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Re: how to use loss recovery to recover total loss
« Reply #5 on: 05 Mar 2021, 06:36 »
Here is something very similar to Purity's suggestion in this topic
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Re: how to use loss recovery to recover total loss
« Reply #6 on: 05 Mar 2021, 11:22 »
thanks for the link mark. i'll definitely be incorporating that into my trigger.

 

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