Betfair scalping for beginners

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Crazyskier
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marko236 wrote:
Me " look at that horse it's been trading within 3 ticks for a while plenty of money matched too looks a great chance for some scalping, great scalped this 4 times now and still looking good for more" :)

If the market could talk!

Market " well done 4 great trades done, i think i'l just move quickly 5 ticks from your postion, how do you like that sir?" :cry:
THIS
Mattlindsay
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Joined: Fri Jul 10, 2015 1:51 pm

See below..... Thank you!!! I'd never have found it. Do you want me to send the P&L for today as well? would that help.

Matt
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Dallas
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Mattlindsay wrote:See below..... Thank you!!! I'd never have found it. Do you want me to send the P&L for today as well? would that help.

Matt
No I dont need that ill be able to see from the file whats wrong with it and let you know
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Dallas
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Here is the amended file with the changes requested
wozza
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Hi Bud

Best advise I can give you is to think long term and be willing to put in the hours.
Stick to pratice mode learn from your mistakes, study/ watch the markets on the ladder interface and how they move and react. Look at what type of race it is i.e a novice/maiden will have bigger market swings than group 1. look at market liquidity (money mated overall)
that is a indicator as to how the prices will react. You need to go through so many markets to be able to put the puzzle together.
wozza
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oh and remember we all have to start somewhere and you will be passing on your advise to someone one day.

wozza
wozza
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I never go into a market with the thought I WILL SCALP THIS RACE, The markets will tell you weather it suits a swing = following a trend where you look to gain larger movements or ticks in the market once you have seen a pattern in the market OR A scalp = small gains i.e 1/2 tick movement in the market which you will normally find in the high liquidity markets.
Mattlindsay
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Cheers Dallas It's greatly appreciated.

Matt
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Mattlindsay
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After going mad for hours I think I may have found the issue the programme didn't have an in play in the condition which I have now added.

Would you mind checking everything else just to ensure I've not missed anything else.

Thanks again for your continued help.

I look forward to hearing from you.

Matt
Mattlindsay
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Hi Dallas,
I've now settled on the file below which lays a fav drifting in running then greens up 10 ticks higher.
There are two lay rules one for odds on favs and one for other favs, both have worked once so far today would you be kind enough to check the file and see if its correct as I have been watching it it has been very slow at placing the lay bets thus either not putting them in the market or they have been unmatched when placed. I completely understand with the nature of what I'm doing not every bet will be taken but can you show me a way or is there a way where more can be matched in running.
The file I sent you late last night I won't need now.
With this above would more trades be matched if it were done on a spreadsheet?

As every I look forward to hearing from you. Hopefully I will leave you alone when this is sorted!!!

Matt
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Dallas
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On each of the lays you have the condition set to trigger higher than the odds your laying at, this is ok but need the price to bounce back down to be matched after its triggered otherwise if it just continues to drift it wont match.

Also you using the conditions "back price" is equal to 16 which means this will only trigger if the back price is exactly 16 anything higher or lower will be ignored so i would change that to greater.
Mattlindsay
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Thanks Dallas, I've updated both back trades to be taken at a greater price as you say the lay side I understand now, I prefer a fixed price as I know what my liability will be I suppose if I programme it to be greater than x price to be lay traded I would have more matched but have more exposure if it came back to win. What would you do?
I've also ticked restrict refresh from 2 secs before the off to 1000 secs after the start time do you think that will make a difference in having more trades matched?
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Dallas
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If your rule is only for IR and your running it on all or most of the days races restricting it the way you have will help if there is two in-play at the same time at least its not cycling through all the other markets not yet in-play unnecessarily

Placing the lay at fixed odds is what ensure you know what your max liability will be, the back condition you where using to trigger it wont effect that - but now it can trigger the lay when the back odds are greater than 16 rather than having to be exactly 16 as it was previously set to do which means it will fire much quicker and more often
Mattlindsay
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Hi Dallas

I hope you don't mind but I've enclosed the file would you mind having a look and see where I'm going wrong.... All i'd like is a lay bet to be put into the market in play after 3 secs at 19.5 then green up when triggered at 21 ticks higher. With a stop loss as well. My only issue is having the trades put into the market after 3 secs. Help!!!!
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Dallas
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Its triggering fine but because your lay it well below the trigger odds it needs to bounce back down to get matched, and as you have noticed when it does bounce back down it can then just as easy continue further down and trigger your stop loss straight after - and if it goes on to win by crashing through your stop loss you ll lose a hefty amount
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