Bet Angel - FAQ's : What is Reverse Greening and How to use Reverse Greening

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Dallas
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Tue May 23, 2017 4:34 pm

What is ‘Reverse Greening’?

Put simply ‘Reverse Greening’ means instead of using the current market price to green up you offer your bet at the reverse market price to try and exit your position.

It's no different from placing a regular bet at current or reverse odds except you’re now placing a green up or closing trade instead. Therefore depending on your strategy and in certain situations it could be more beneficial to use ‘Reverse Greening’ and get better odds by offering your greening up bet to the market rather than taking the current odds on offer with a ‘Regular Green Up’ order.

Normal Greening/Close Trade = Take ‘Current’ best price to exit your position.
Reverse Greening/Close Trade = Offer at the best ‘Reverse’ price to try and exit your position.

The biggest advantages of using the ‘Reverse Price’ when greening/closing a trade comes in either in-play or illiquid markets or whenever there is gaps between the prices - If someone else is rushing to get in or out of a position they may just be willing to take your offer rather than you taking someone else’s. So, you can often increase your profit (or reduce your overall loss).

However, with this upside comes some downside, by now offering a price to the market the chances of it being matched are significantly reduced and if the price is moving away from you then you could end up having to place the bet several times as you chase the price – meaning it might have been better taking the original green up in the first place.

If you look at the image below were a back bet has already been matched at 5.7, right now I can green up normally by taking the money already waiting at 6.0 which would give me a loss of -£0.50. Whereas if I were to use ‘Reverse Greening or Close Trade’ I Could instead offer my bet at the Current Reverse Market price of 5.5 and hope it gets matched – if it does I will of made a £0.36p profit (instead of a -£0.50p loss).

Reverse Market Green Up.jpg

The risk is of course as described above if it doesn’t get matched at 5.5 and the price then begins to drift, you could of course attempt to issue another ‘Reverse Green Up’ order which will get placed at whatever the current reverse price now is but if the price continues to drift and ends up passing odds of 6.0 than in this situation I would have been better using the regular green up option and just taking the price of 6.0 to begin with.


How to use Reverse Green Up or Reverse Close Trade

When trading manually (on the ladder or one-click trading screens) it is only possible to use Reverse Green Up or Reverse Close a Trade by assigning some short cut keys to issue the command. This is done using the ‘Keyboard Shortcut Editor’ see this link for full details on assigning keyboard shortcuts http://www.betangel.com/forum/viewtopic ... 47&t=12404

Shortcut Reverse Greening.jpg

Once you have created and saved your shortcut keys the simply press your assigned key whenever you want to place a ‘Reverse Green Up’ and the software will place your order, if your using ‘Close Trade on Selection’ then whichever selection your mouse cursor is currently hovering over at the time you press your shortcut key is the one that the order will be placed on.
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User avatar
Dallas
Posts: 8166
Joined: Sun Aug 09, 2015 10:57 pm

Tue May 23, 2017 4:38 pm

Reverse Greening With Automation

When ‘Greening up’ or ‘Closing a Trade’ the option of using the ‘Reverse Market Price’ (reverse greening) has now been added to Advanced Automation

Whenever you select one of the following rule types;
Green All Selections
Close Trade on Selection
Close Trade on Selection with Greening

The ‘Parameters’ tab will give you the option of using the ‘Current Market Price’ or ‘Reverse Market Price’.

Reverse Green Parameters.JPG


Profit Conditions with Reverse Greening

If your using a profit condition with one of the rule types above this will continue to look at and use the current market price.
For example, if you have selected the rule type ‘Green All Selections’ and have chosen to use ‘Reverse Market Price’ with a ‘Green all Profit Condition’ is greater than £2 the rule will still trigger when the profit at the current market price is greater than £2 (irrespective of what the ‘Reverse Market Price’ is – obviously the ‘Reverse Market Price’ will always be better than the ‘Current Market Price’).

So, the image below the rule would now trigger because the current green up profit is £2.20 @ odds of 4.1, but your ‘Reverse Green Up’ bet would be placed behind the £122 waiting at 4.6 to give a profit of £3.06 if matched (an extra 84p profit)

Green up 1.jpg
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