HOPING someone can help me - going out of my mind trying to automate a trading idea.
For ease, I'll details in numeric steps what I am trying to do - I have tried four hours and just can't get it to work.
1 Enter a LAY trade 5 ticks off the current price, example if current price is 4, then lay at 3.8 - it will be waiting to be matched
2 When the price is one tick above the lay price from step 1 (3.8), to then place a back bet
The thinking is it's a 'trap'... We lock in an early position at a distant price. As the prices moves towards us (1 tick away) the back bet is placed and the idea is we then have a scalp at the tick drops to 3.8.
I have tried stored value, offset... my theory is right but the execution is way off.
Set the trap
I assume you're targeting a particular runner that you believe will shorten for whatever reason? If that's the case and it's going to shorten why not create a simple automation that places a back bet with say a 95% offset bet? That way you can set it to back at whatever time you wish the offset lay bet is placed automatically once the price shortens you'll be matched and then green up.