I can't for the life of me see what I am doing wrong. I am trying scalping using the BetAngel Pro Ladder format without much success. I am only using $2 while I learn. I am Backing High and Laying Low by 1 tick but when I check the the Profit"/Loss for the race I find the bets return $0.
Such as below.
I have placed a bet at 4.2 for $2 for a loss of $2. Placed the LAY Bet at 4.1 for $2 for a profit of $2. Hence no profit. Í have watched and read all the advice I can but can not find what I am doing wrong.
I think I hedged all bet correctly.
Is it because my $2 is too low?
Please excuse my incompetence. Any help appreciated.
Scalping gone wrong
-
- Posts: 194
- Joined: Wed Sep 26, 2018 7:55 am
You need to lay £2.04 at 4.1
Back £2 @ 4.2
Lay £2.04 at 4.1.
Then you get trouser the £0.04 whatever happens, or in this case, £0.08 if it wins ( because of the rounding)
Back £2 @ 4.2
Lay £2.04 at 4.1.
Then you get trouser the £0.04 whatever happens, or in this case, £0.08 if it wins ( because of the rounding)
I would guess that you haven't greened-up (hedged). £2 back at 4.2 and £2 lay at 4.1 gives you a free bet of £0.20, which means only if the horse wins you win £6.40 and lose £6.20.
Pressing the green-up button should lay the horse for about £0.05, which would guarantee a small profit.
Pressing the green-up button should lay the horse for about £0.05, which would guarantee a small profit.
-
- Posts: 194
- Joined: Wed Sep 26, 2018 7:55 am
Same stake , different odds with seven brothers, still only had a £.08 free bet I think?
It’s the odds x stake that you open at, divided by the odds that you close at, that gives you your closing stake with the greening added.
It’s the odds x stake that you open at, divided by the odds that you close at, that gives you your closing stake with the greening added.
It helps if you think of scalping/trading as a two stage process.
Stage 1: Back High/Lay Low or vice versa to lock in a profit on one runner. As you have done successfully.
Stage 2: Spread that profit across all runners in the field by greening up. Essentially placing another lay bet in the market to spread the profit.
You are missing the second stage.
Good luck, we've all started somewhere.
Stage 1: Back High/Lay Low or vice versa to lock in a profit on one runner. As you have done successfully.
Stage 2: Spread that profit across all runners in the field by greening up. Essentially placing another lay bet in the market to spread the profit.
You are missing the second stage.
Good luck, we've all started somewhere.
Hadn"t noticed it was a free bet that won.TraderFred wrote: ↑Sun Jul 26, 2020 1:30 pmSame stake , different odds with seven brothers, still only had a £.08 free bet I think?
It’s the odds x stake that you open at, divided by the odds that you close at, that gives you your closing stake with the greening added.
Thank you all for your help. I am a little confused about the greening process. So the race is about to start. I have finished my pre race trading on Bet Angel ladder and I need to green up. Do I
[*] The green value at point 1
[*] The open scales at point 2 or
[*] the small green box above every runner at point 2?
Many thanks for your time.
press the [*] The green value at point 1
[*] The open scales at point 2 or
[*] the small green box above every runner at point 2?
Many thanks for your time.
You do not have the required permissions to view the files attached to this post.
- ShaunWhite
- Posts: 9731
- Joined: Sat Sep 03, 2016 3:42 am
Click the green number just to the right of the scales (2)
There's a three part blog series here which might help, it covers greening etc as part of it
https://www.betfairtradingblog.com/betf ... explained/