Hi, Trialling Bet Angel and like it so far, especially the graphing. Before I subscribe I need to understand how offsetting is implemented. I experimented for hours today, and searched the net, but cannot seem to get offsetting to work as I'd like.
What I require is a fill-or-kill with partial fill of offsets.
ie. If I make a $500 back bet with a fill-or-kill of 60 secs, and it's instantly matched for $490, I don't want to wait for 60 secs to lodge the offset. Also I don't want both bets to fire simultaneously - If I lay I expect the market to drift, so having a back bet fire, without a match by the initial lay, is suicide.
Hopefully it's just a misunderstanding on my part, as I did find some of the user manual a litle difficult to understand (offset settings an example).
Thanks in advance for any replies.
Partial fill of offsets
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MarketTrader
- Posts: 118
- Joined: Wed Mar 18, 2009 12:34 pm
- Location: UK
The only way around this would be to use a shorter kill delay. The offset always waits until the allotted time has passed. I'm fairly sure this is standard behaviour and the definition of fill/kill.
Imagine your $500 is matched $0.10 at a time. I don't know of any software that would monitor and submit hundreds of $0.10 bets.
I might be wrong though.
Imagine your $500 is matched $0.10 at a time. I don't know of any software that would monitor and submit hundreds of $0.10 bets.
I might be wrong though.
Some Betfair apps have partial fill of offsets and I wouldn't use anything without it anymore.
To force an immediate offset (in the direction of the anticipated market move!), or to not offset until the fill-or-kill time is up, are not viable options for me.
Nice graphing though.
To force an immediate offset (in the direction of the anticipated market move!), or to not offset until the fill-or-kill time is up, are not viable options for me.
Nice graphing though.
If you order is partially matched it will wait till the fill or kill delay is over before sending in the second part of the trade. It does this to try and get the maximum fill possible. It's easy to implement partial fill or kill, which we have in the development edition, but it's proved generally impractical from our experiance. We have looked at other apps and they suffer exactly the same problems that we have encountered when trying to implement it. If you want to drop a note to support and detail your request we can look at our current implementation, others and put it forward as an update on a future release.
Thanks for the reply, but I don't understand the reasoning.
How can waiting for the fill-or-kill time make it easier to get maximum fill? I want the offset in ASAP so it can get filled ASAP (but not before the offset amount has already been matched in case the market goes against me). In fact this often allows me extra trades before the market changes.
And what difficulties do you refer to with other apps?
I do like Bet Angel, however I now consider partial offsets essential.
How can waiting for the fill-or-kill time make it easier to get maximum fill? I want the offset in ASAP so it can get filled ASAP (but not before the offset amount has already been matched in case the market goes against me). In fact this often allows me extra trades before the market changes.
And what difficulties do you refer to with other apps?
I do like Bet Angel, however I now consider partial offsets essential.