Stop at 80% loss

[BigJ]

Hi

I'm looking to put a stop loss in at 80% loss on my lay selections. I want to automate it for all races / selections but i'm not sure which rule type and condition to use.

Also could I run a rule along side the above this to lay selection at a certain price?

Thanks

[MemphisFlash]

80% seriously, why don't you give me your money instead!!!!

[Derek27]

If you make a slight adjustment to your strategy and stop at 100% loss, you won't need to bother with automation.

It doesn't really make any sense to stop at a loss and then lay the same selection - it's not stopping at a loss but increasing your liability, potentially above 100% of your original liability.

[ShaunWhite]

Seems to be a trend developing here for people asking for help, and getting a critique of what they want to do instead.

[malachii]

Think OP possibly meant when the trade drops to 80% of the money put in (ie 20% loss).

malachii

[BigJ]

80% seriously, why don't you give me your money instead!!!!

?
That would be silly strategy

[BigJ]

Seems to be a trend developing here for people asking for help, and getting a critique of what they want to do instead.

Here here Shaun

[BigJ]

If you make a slight adjustment to your strategy and stop at 100% loss, you won't need to bother with automation.

It doesn't really make any sense to stop at a loss and then lay the same selection - it's not stopping at a loss but increasing your liability, potentially above 100% of your original liability.

Just read my post and it's not 100% accurate. Yes I need a stop loss at 80% i.e if the horse I lay gets to 80% loss of total liability I want to kills it rather take 80% than 100%. There is a lot more to the strategy.

I'm not laying the same selection twice - sorry this wasn't clear in my message. I am looking to set up a pre race and in play price watch automation on my selection if the price isn't where i need it to be initially. For e.g. I want to lay selection A at 2.0 but it's current price is 2.4. I know i can just put the bet on and keep it in play but I want to automate this part. I would then put a stop loss on the selection

Any help appreciated

Thanks

[ruthlessimon]

80% seriously, why don't you give me your money instead!!!!

So long as the laying is consistent, a tiny stop wouldn't make any difference to a huge one. The probabilities will just naturally adjust to maintain the 0 expectancy

[Derek27]

Seems to be a trend developing here for people asking for help, and getting a critique of what they want to do instead.

I appreciate it must be frustrating asking for technical help to implement a strategy and receiving comments on the strategy instead of the help requested, but occasionally it is unavoidable, and perhaps better than no comments at all. The poster can of course ignore any unrequested observations.

[Dallas]

Hi

I'm looking to put a stop loss in at 80% loss on my lay selections. I want to automate it for all races / selections but i'm not sure which rule type and condition to use.

Also could I run a rule along side the above this to lay selection at a certain price?

Thanks

Assuming your backing for £10

You just need to add a rule type 'Green all Selections' and add the following condition
Green All Profit Condition
Is Less than -£8 (or adjust that amount depending on the stake so that your triggering the rule at 80% of it)

Set that to trigger 3 times armed every 3 secs

If your backing more than one runner its the same principal as above but this time use
Rule type - Close trade on selection with greening
Condition - Close trade profit condition with greening

[BigJ]

Hi

I'm looking to put a stop loss in at 80% loss on my lay selections. I want to automate it for all races / selections but i'm not sure which rule type and condition to use.

Also could I run a rule along side the above this to lay selection at a certain price?

Thanks

Assuming your backing for £10

You just need to add a rule type 'Green all Selections' and add the following condition
Green All Profit Condition
Is Less than -£8 (or adjust that amount depending on the stake so that your triggering the rule at 80% of it)

Set that to trigger 3 times armed every 3 secs

If your backing more than one runner its the same principal as above but this time use
Rule type - Close trade on selection with greening
Condition - Close trade profit condition with greening

Thanks Dallas as always super helpful.

[BigJ]

Hi

I'm looking to put a stop loss in at 80% loss on my lay selections. I want to automate it for all races / selections but i'm not sure which rule type and condition to use.

Also could I run a rule along side the above this to lay selection at a certain price?

Thanks

Assuming your backing for £10

You just need to add a rule type 'Green all Selections' and add the following condition
Green All Profit Condition
Is Less than -£8 (or adjust that amount depending on the stake so that your triggering the rule at 80% of it)

Set that to trigger 3 times armed every 3 secs

If your backing more than one runner its the same principal as above but this time use
Rule type - Close trade on selection with greening
Condition - Close trade profit condition with greening

Thanks Dallas as always super helpful.

[BigJ]

80% seriously, why don't you give me your money instead!!!!

So long as the laying is consistent, a tiny stop wouldn't make any difference to a huge one. The probabilities will just naturally adjust to maintain the 0 expectancy

Thanks but i'm not sure I full understand what you mean. I'm currently in profit for the past 3 months using a successful lay strategy but doing it manually. Have back tested the strategy using 4 years worth of data and is been very profitable. I've been playing with stop losses and an 80% stop loss has been working for me, but in all honesty it was a guestimate / trial so I don't know if it's the sweetest spot to place it. Typically, looking at my picks horses that hit 80% tend to go on and win meaning i'm circa 20% better off that if i let the horse run. Like I say it's a guestimate and would definitely tweak it if I was advised of a better place to put it. Is more accurate on longer races.

Having a stop loss works for me I just need to automate it

[BigJ]

Hi

I'm looking to put a stop loss in at 80% loss on my lay selections. I want to automate it for all races / selections but i'm not sure which rule type and condition to use.

Also could I run a rule along side the above this to lay selection at a certain price?

Thanks

Assuming your backing for £10

You just need to add a rule type 'Green all Selections' and add the following condition
Green All Profit Condition
Is Less than -£8 (or adjust that amount depending on the stake so that your triggering the rule at 80% of it)

Set that to trigger 3 times armed every 3 secs

If your backing more than one runner its the same principal as above but this time use
Rule type - Close trade on selection with greening
Condition - Close trade profit condition with greening

Thanks Dallas as always super helpful.

assuming I can just apply the same on the lay side?