Bet Angel - FAQ's : Using a Stop Loss and Trailing Stop Loss Order

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Joined: Sun Aug 09, 2015 10:57 pm

Tue Apr 12, 2016 6:01 pm

The purpose of a stop loss is to close out a position/trade automatically should the price move a number of ticks against you. It is a very useful feature of Bet Angel especially for beginners, but is also used by traders of all levels of experience.

For a new trader just one of the ways it will help is by taking the emotion out of accepting losses and not allowing them to spiral out of control.

You can use a Stop Loss while trading on any of the main Bet Angel trading screens or as part of a automation rule when using guardians advanced automation. To use it on any of the trading screens you first need to enable ‘Global Settings’ for that screen by uncrossing the blue cog icon.
** more about global settings here viewtopic.php?f=47&t=12259 **.

With global settings enabled you now have the option of a stop loss in one of two ways – a regular fixed ‘stop’ or a ‘trailing stop’ (details of the trailing stop are in the post below)

From the dropdown menu located at the top left of the main banner you can choose the option of which type of stop you want to use. ** You will also see a number of other options with offset bet and offset bet with greening, for further details on these see this thread viewtopic.php?f=47&t=12597 **

Just to the right of that are two boxes the Stop trigger (ticks) and Place at (ticks) this is where you specify the number of ticks you are prepared to allow the odds to move against your opening position before the stop loss automatically closes for you (See top image).

If you enter the same number for both the Stop trigger ticks and Place at ticks then the stop will be placed at the same odds as it triggers.

For Example
Stop trigger (ticks) 3
Place at (ticks) 3

If you then back at odds of 4.0 should the price drift to 4.3 this will trigger and place the stop at these odds to exit your position.

This will be fine in most instances if the price moves slowly against you or a tick at a time but sometimes even in a slow moving market a large bet can enter the market and move the price several ticks in one go which could go straight through your stop loss resulting in it then remaining in the market at the price it was triggered and placed at as a unmatched bet, to help avoid this you would enter a number for your stop trigger (ticks) then a higher number for the place at (ticks).

The bigger the gap between the two the better the chance of still being stopped out if there was a sudden move
(See middle image)

A back bet has already been placed at 3.70 with the stop loss trigger at 5 ticks (3.95) and place at 10 ticks (4.4) if a big bet came into the market and pushed the price instantly from 3.70 up to 4.1 the stop would trigger as the odds pass 3.95 but rather than place it at these odds and be left as a unmatched bet (because the price has gone straight through) it would instead be placed at 4.4 and because Betfair always match at the best available odds you would be instantly matched at 4.2. So despite the large order and the sudden movement in price Bet Angel was still able to close the position with the stop loss at the best possible price.

If your trading on the ladder screen you also have the additional option of placing a ‘stop’ loss manually simply by clicking the right mouse button on the odds you want to place your stop at, a yellow box will then appear as a visual indication of where this is now set at, you can cancel and move this at any time by re-clicking the right mouse button on the new odds. (See bottom Image).

**If you have applied a stop loss by right mouse clicking and then switch markets it will be cancelled and no longer able to close your position, even if you switch straight back you will need to reset it by right mouse clicking on new odds.
If you have initiated a stop loss by using the global settings method providing you have the market loaded into guardian your stop will still trigger subject to guardian refreshing that market even if you switch to another market/s.**

To see a tutorial video demonstrating the Stop Loss in action on both the ladder and one-click grid screens please click on the links below. ... eqk-OgVoHj ... l&index=13
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Posts: 9932
Joined: Sun Aug 09, 2015 10:57 pm

Mon Aug 15, 2016 9:01 pm

Trailing Stop

This works in the same way as the regular ‘stop’ detailed above in regards to specifying the number of ticks to trigger and place your stop at – the difference with a ‘trailing stop’ is unlike the regular one this one does not stay at fixed odds but instead trails behind the odds if they begin to move in your favour, hence the name ‘Trailing Stop’.

Just like the regular 'stop loss' the 'trailing stop' can be used with or without greening by selecting the required option from the same dropdown list as detailed in the post above.

The advantage of using a trailing stop especially for long term, trend or swing trading is when a trade starts moving in your favour for each tick it moves the stop is also moved one tick which means should the price then reverse you will be stopped out for much less than your original stop loss was set at and if the odds have moved in sufficiently enough you can begin to lock in a profit even if the odds where to turn at some point.

In the top image below you can see I have used the same 'trigger at' 5 ticks and 'place at' 10 ticks as the above example except this time I am using the ‘Trailing Stop’.

The opening back bet has been placed at 4.5 and if you look below in the unmatched bets area you will notice the odds that the stop is set to trigger at 5.0 and be placed at 5.5.

In the middle image the odds have begun to move in my favour and have shortened by 3 ticks but notice in the unmatched bets area the odds that the stop will now trigger and place at have also reduced by 3 ticks and are now at 4.7 and 5.2, should the price turn now the loss is only -£0.43 which can be seen from the profit or loss column on the ladder at these odds.

As the odds continue to shorten even further in the bottom image its now pulled the stop trigger in to a position where even if the odds now drifted back out the stop will be triggered whilst still locking in a profit of 0.23p at odds of 4.4

To see a video tutorial on using a Trailing Stop Loss see link below
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