Stop Loss @ SP

[gizzard]

I have a couple of questions regarding the Stop Loss.

1. I'm using the triggers: "-SLFn-SL" with the intention of having a sliding stop loss that is placed at a specific odds value of n.
Although I have specified the value, the Stop Loss is often not placed at that value if the market has jumped too far. You might think, "Of course, it IS a Stop Loss and so the bet should be placed ASAP at whatever value to prevent further loss."
However, as the loss has been rapid the market must have moved very quickly and I'd prefer to wait to see if it bounces back leaving my Stop Loss in place at the value that I requested rather than being taken.
Any ideas?

2. Following on from this, if the Stop Loss ends up not being taken by race start time I want to take SP for it.
That means having the original bet NOT at SP but the Stop Loss at SP.
Is it possible to place such a bet? If not, can the bet be altered to "Keep"?
If still not, is that something to look at including?

[GaryRussell]

1) Was your initial bet a back bet? This would make sense as a stop loss lay bet will not be fired if the odds are more than double. The stop loss is designed to fire at the current best back odds plus 1 tick when the stop loss bet is a lay bet. Are you saying you would prefer it to place the bet at the odds you specified in the hope that the odds come down? I can make this a feature.

2) The stake for an SP bet specifies the liability, not the stake so is not workable. You can append "-IPC" to the trigger to keep the stop loss bet in play.

[gizzard]

No, the first bet was a lay bet.

[GaryRussell]

It should have fired then. What odds was the lay bet matched at, what odds did you specify in your trigger and have you got an idea of roughly where the odds dropped to?

[GaryRussell]

Also can you clarify if you saying that no stop loss bet was placed at all or just not at the odds you would have liked?

[gizzard]

A stop loss was triggered in each case just not at the odds that I expected. For example, when using a 1 tick stop loss for a lay bet at 10 with "-SLF10-SL" I would expect the stop loss bet to be entered at 1 tick below 10, that is, 9.8. I had an example today where it was accepted at 9.4 and another where the lay bet was 4 (-SLF4-SL) and the stop loss back accepted at 3.6 which is 8 ticks away.

If I append "-IPC" as you suggest will this work for stop loss? The way that I read the new guide (thanks, it's brilliant) it only applied to the offset bet and I didn't realise that it applied to both offset and stop loss.
The problem would be that many markets don't go In-Play.

Thanks for your help with this one.

[GaryRussell]

The stop loss works the way it was intended, but not the way you expected. The odds you specify are the odds that will trigger the stop loss, ie. if the odds go beyond those odds then the stop loss will be placed at the current odds so in a fast moving market they may not be what you wanted. I could add another trigger to specify that you want it to place the bet at your supplied odds. I will see what I can do.

Yes, IPC also applies to stop loss. I will amend the user guide.

[gizzard]

Thanks Gary, I think it could be a useful option.

What about the point I made about being able to take SP if the stop loss is not taken when going In-Play? That is, the original bet is NOT SP but, if triggered then the stop loss is taken at SP if it hasn't been triggered before then. A trigger that allows you to change the status of a bet from/to take SP would be sufficient.

[GaryRussell]

You can use -SPC instead of -IPC which will convert the bet to an SP bet if not matched before the market goes in play. If the stop loss bet hasn't been placed before the market goes in play then it will not place the bet at SP, it will be placed at current odds if the odds go beyond the stop loss limit (as before in play)

[gizzard]

-SPC.....it looks perfect, just what I was looking for when using markets that have the SP option. Another one for the guide, I couldn't see it mentioned.

Thanks for your help.