Stop loss at x - place the bet at Y

[Tarmac]

Hi. Like many others, I find that my stop losses don't get filled on lay bets, and I find myself picking up the tab (for a winner) when I had intended to bail out at half the lay odds. Is there any Excel trigger to do the following (assuming a lay at 4.0 I want to stop at 50%)

If the odds go to 2.5, place the stop back bet at 1.01 (just to make sure I get some kind of stop)

Thanks for any response

NG

[GaryRussell]

The Beta version has a "chase" facility. If the stop loss bet is not matched then it cancels the bet and replaces at the current back odds. It repeats this until all matched.

See http://gruss-software.co.uk/forum/viewtopic.php?t=6250 for download link for Beta version.

You can use LAY-SL50P-SLC1

-SL50P - sets stop loss at 50%
-SLC1 - stop loss bet will be cancelled and replaced every second until matched

[GaryRussell]

Sorry, just realised my reply is incorrect. The chase facility only works if you have specified level loss therefore the trigger I specified is not valid The following trigger is valid.

LAY-SL50P-L-SLC1

This means that the back stake will not be the same as they lay stake. It will be calculated to spread the loss across the other selections. This may not be what you wanted.

[Tarmac]

Gary - thanks for responses. Unfortunately you're right. This is not what I want. I am in the in-running markets so, using "chase" I'd probabaly chase it to the winning line before I got filled. Anyway, I take it there is no Excel modifier to stop at odds and place the stop at different odds? Any intention of adding it in the future? NG

[GaryRussell]

There isn't an option to place the stop at different odds. There may be in a future release though.

[mak]

Gary
Can you clarify if the following is right? (Haven't used this trigger yet)

49. Added new stop loss option: “Chase if unmatched”. If the stop loss bet is not matched then it will wait the number of seconds set in “Chase delay” and then cancel the bet and place again at the current best odds. It will repeat this process until the cancel request fails to cancel any of the unmatched stake. Each time it calculates the stake required to produce a level loss based on the bets placed so far. This option currently only works when level loss is specified.
The Excel trigger modifier for this option is -SLCn where n is the chase delay.
eg. BACK-T1-SL5-L-SLC1 (back bet with 1 tick offset, 5 tick level stop loss and stop loss chase with 1 second delay)

In other words, do we have 2 "chase" triggers?

[GaryRussell]

Gary
Can you clarify if the following is right? (Haven't used this trigger yet)

49. Added new stop loss option: “Chase if unmatched”. If the stop loss bet is not matched then it will wait the number of seconds set in “Chase delay” and then cancel the bet and place again at the current best odds. It will repeat this process until the cancel request fails to cancel any of the unmatched stake. Each time it calculates the stake required to produce a level loss based on the bets placed so far. This option currently only works when level loss is specified.
The Excel trigger modifier for this option is -SLCn where n is the chase delay.
eg. BACK-T1-SL5-L-SLC1 (back bet with 1 tick offset, 5 tick level stop loss and stop loss chase with 1 second delay)

In other words, do we have 2 "chase" triggers?

There is only one chase trigger. How are you interpreting the above?

[mak]

Couldn't find it in help section, and search for it here...

http://www.gruss-software.co.uk/forum/v ... gger+chase

[GaryRussell]

Couldn't find it in help section, and search for it here...

http://www.gruss-software.co.uk/forum/v ... gger+chase

It's because it is only in the Beta version, but it will be in the new user guide. The description you have quoted is correct though.

[mak]

thanks
m

[gizzard]

This looks as though it's close to solving an ongoing problem that I have too.

I have a stop loss in place but sometimes the market moves rapidly and misses my stop-loss trigger. If it does then I have a "catch-all" stop-loss set to take SP but still this can provide large losses especially as the stake at SP can't be levelled as the odds aren't known.

What I'm trying to do is to use a (Back following an initial Lay) Stop Loss that doesn't slide and to leave it in place in the hope that the market price will bounce back and take the Stop Loss. I'd like to have a safety feature that cuts in (before SP is taken in-play) so that if the price falls to a specified level (perhaps 5 ticks below the original stop loss) then another attempt to take a Stop Loss is made and this one should level the loss and keep trying (by sliding and chasing) until a match is made or the market goes in-play.

I don't think that BA offers this at the moment but what would be the best solution?

[gizzard]

I had another healthy profit turned into a considerable loss today because of this problem so would really appreciate a response.

[GaryRussell]

Sorry BA doesn't offer this. The only solution available to you at the moment is to manage the placing of the stop loss bet yourself.

I'd like to have a safety feature that cuts in (before SP is taken in-play) so that if the price falls to a specified level (perhaps 5 ticks below the original stop loss) then another attempt to take a Stop Loss is made and this one should level the loss and keep trying (by sliding and chasing) until a match is made or the market goes in-play.

You could use CANCEL-ALL trigger to cancel the unmatched stop loss bet and then use LAY to place the stop loss bet yourself. See http://www.gruss-software.co.uk/forum/v ... php?t=4659 for an example spreadsheet that calculates the stake required to green up from MyBets.

[gizzard]

I'm finally getting around to trying to program this but am a bit confused. If I use a CANCEL-ALL then that works against the selection. the Greening Up routine though looks at ALL selections. If I have stop loss bets that have yet to be matched against other selections then they won't be cancelled (as the CANCEL-ALL isn't triggered against them) but will the Greening Up routine consider these unmatched offsets?

[GaryRussell]

No, it doesn't take into account unmatched bets. The green up example calculates the stake required to green up the individual selections, it's not based on the overall position so you can just green up the selections that you used CANCEL-ALL against.