Author Topic: stop loss alternative  (Read 1803 times)

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stop loss alternative
« on: 04 Jul 2014, 23:44 »
Hi,
I am currently using a stop loss trigger based on ticks.
I am using backing triggers and the stop loss will lay the
outsider of two which will lose equal amounts if either win.
The problem is the old chestnut of thin markets and may end up laying at 5 or 7 to 1
I would rather back the new favourite where there is more liquidity.
How can I substitute laying the 2Fav and backing the Fav instead for the same outcome.
 Help appreciated
Many Thanks
R
My grandma taught me not to run downstairs and never back odds on.

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Re: stop loss alternative
« Reply #1 on: 05 Jul 2014, 08:36 »
Hi
I think in any event Betfair's cross-matching virtual prices would be available on each selection. Any advantageous under or overround would be taken by Betfair themselves when they put up the virtual bets.  https://api.developer.betfair.com/services/webapps/docs/display/1smk3cen4v3lu3yomq5qye0ni/Virtual+Bets

or you could try and work something yourself using the following formulae:

At 100% book to calculate the opposite lay price to a back price:
1 / (back_price -1) +1
To calculate the opposite back price to a lay price:
1 / (lay_price -1) +1

replace back_price or lay_price with bm_backp or bm_layp

example:

backed player A at 2.50
stoploss lay at 3.00
1/(3-1)+1=1.5
therefore stoploss = back player B at 1.50
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Re: stop loss alternative
« Reply #2 on: 05 Jul 2014, 09:47 »
Thanks Mark,
I will tinker with it now.
R
My grandma taught me not to run downstairs and never back odds on.

 

Please note, BetFair is seems to be currently OFFLINE