close trade profit condition

[pokerhead]

Watch does close trade profit condition do in guardian?am looking to close a trade if a certain loss is met can I do this in guardian?appreciate any help

[Bet Angel]

Green all hedges your position to a profit or loss using that condition. Close trade will close an open position but not hedge your profit across the book. Hope that helps.

[steven1976]

Is it possible to close the trade by offering to the book rather than taking what is on offer? So for example, if I have multiple positions I backed at different prices, say 3.05, 3.10, 3.15, could I close all 3 positions at 3.10 rather than taking what's on offer at 3.15?

[Euler]

If you a trading with a fixed stake you could 'look up' the profit and offer to close with a standard bet?

[steven1976]

Thanks Peter.

[steven1976]

If you a trading with a fixed stake you could 'look up' the profit and offer to close with a standard bet?

Still having trouble with this. When i try and close by profit being xx, I can only get it to offer the money to the market once there is money on offer. Is there a way to look up a profit and offer to the market a net position into a queue rather than wait until the money is there to take?

I guess Im looking for similar to an offset immediately going into the market but on a position of multiple entries?

[kelpie]

The only workaround is to order "Best market price" or to be safe "Second best market price" once the LTP goes below x

This said, what you're experiencing is exactly why I say betfair is not a true exchange because it blocks stop limit orders. Betfair will only facilitate exchanges on assets declining in value...

[steven1976]

Thanks Kelpie ill see if I can get my head around it with LTP.

Is this not a feature from BA that could be introduced for closing a trade in automation rather than BF blocking something? I can offer money immediately on the ladder by offering at a net position rather than taking money on offer, so I presume it could be a feature for automation in the future to close a net position by adding it immediately to a queue rather than having to wait until money is on offer?

[kelpie]

Steven - I hear you, but betfair doesn't want traders to have that option. so they will bump your back upwards to the latest matched price or down the cheapest lay

Like I say, betfair only facilitates depreciating assets. A horse at 2.0 has very different value to one at 30.0 but try placing an order on 2.0...

[steven1976]

Hi Kelpie
Ill try and write up an example of what I'm wanting to do either today or tomorrow as I don't think what I'm looking to do matters about bf. Its probably just me not getting my head around automation.

Cheers
Ste