Author Topic: Stop loss trigger, need a little guidance  (Read 1841 times)

Tags:
  • All members
  • Posts: 6
  • Karma: +0/-0
Stop loss trigger, need a little guidance
« on: Sun, 28 April, 2013, 22:35 »
Hi! I think I understand what I'm doing (to a degree) but I wanted to run my trigger and what I've put together so far by someone who actually knows what they're doing.

I would place the first lay bet manually. I then want my trigger to remember the price of my lay, and to pull the trigger if the price drops by 30% - however, I want it to calculate the stop loss based on a price drop of 40% since I'd be using it in-play and would want to ensure that it had a good chance of filling.

So my first trigger is remember bm_layp with no conditions. My second trigger is to set the variables of triggerprice with the value of bm_layp -30% and stoplossprice with the value of bm_layp -40%. Both of these are set as individually for each market just in case I am betting on two markets at once. Again, no conditions on these either.

My next trigger is the one to engage the stop loss, to which I've set the condition of Selection's Back Price is equal or less than triggerprice. But I don't know what to use in the formula editor - using distribute loss between selections will just fire a bet at the triggerprice variable rather than the stoplossprice, won't it?

Would appreciate any help, thanks

  • Moderator
  • Posts: 2823
  • Karma: +232/-0
*
Re: Stop loss trigger, need a little guidance
« Reply #1 on: Mon, 29 April, 2013, 10:08 »
Hi
Inplay prices can move in a flash and you might miss the stop loss difference of 10%. I would suggest activating the stoploss at your chosen % loss, but placing the stoploss bet at the best available price. This way you have a much better chance of getting the stoploss matched. You can adjust the activation loss % in the Constant. Please try the attached in test mode.
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.

  • All members
  • Posts: 6
  • Karma: +0/-0
Re: Stop loss trigger, need a little guidance
« Reply #2 on: Mon, 29 April, 2013, 10:26 »
Hi Mark,

Thanks for that but I don't understand - I appreciate the speed with which inplay prices move and I thought if I had a stop loss kick in for a lower value once a set value had been reached (30 and 40% are test figures and I'm okay with changing them if they're wrong) there would be a much better chance of it being matched than trying to take the best available price at the time?

e.g so I place a lay at 6. The price drops 30% to 4.2, so the stop-loss is placed at 3.6 (which is a 40% drop). The stop loss won't distribute exactly equally as I won't know the exact price I'm getting (somewhere between 4.2 and 3.6), but it will still be a stop loss.

  • All members
  • Posts: 6
  • Karma: +0/-0
Re: Stop loss trigger, need a little guidance
« Reply #3 on: Mon, 29 April, 2013, 10:41 »
Actually I think I've got it, simple mathematics. Set a back to trigger at the triggerprice with the following equation starting lay price / stoplossprice * initial stake value

  • Moderator
  • Posts: 2823
  • Karma: +232/-0
*
Re: Stop loss trigger, need a little guidance
« Reply #4 on: Mon, 29 April, 2013, 10:44 »
Hi
I've done the same, this time using a back trigger action.
The price I am asking for is 1.01 but it will be matched at the best available price (you can also use "best" in here without quotes - it does the same thing).
The formula in the amount box "reds up"

If you want you can set a formula for the price box which asks for 40% loss
hope this makes sense

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.

  • All members
  • Posts: 6
  • Karma: +0/-0
Re: Stop loss trigger, need a little guidance
« Reply #5 on: Mon, 29 April, 2013, 10:46 »
That's absolutely perfect Mark, thanks very much!