Hi folks,
does anyone of you have experience using the trigger/stop loss feature when laying horses inrunning?
What i want to know is whether the stop loss is triggered when i set the trigger to let`s say 30 ticks and the stop loss at for example 100 ticks laying a potentially dead donkey: for stop loss to kick in, is it vital that that exact price of the trigger is being touched or is it sufficient that the price traded is below the trigger so that the stop loss bet is reliably fired into the system?
Thanks
trigger/stop loss inrunning
Hi,
maybe it is my English but I don't really 100% understand your question
As far as I know the basic idea behind the stop loss function is that it shoots your bet in the market as soon as there is no volume available exactly one tick above your set price.
E.g.
You have put a lay order at lets say 1.40 hoping the price will rise. You have also put a stop loss marker on the back side @ 1.20 for the worst case scenario. So if the unexpected happens and the price comes down your bet will be shot in the market as soon as the the last pound on 1.21 is taken.
BUT! And here is the sad part - it is possible that there is not enough volume sitting on 1.20 when your sl order is launched into market for your order to be fully matched. In that case your order will take what is available and the rest will become a simple back order WHICH MAY NOT BE TAKEN by anyone if the price moves down really fast! This happens time to time so you should preferably have your sl trigger on a price with as much volume available as possible, because it can be pulled out from the market at any moment.
Basically your strategy is gambling because:
1)you will often get your stop loss order kicked in even though the horse does not win in the end just because of the fluctuations
2) the stop loss may not be able to save you if the price shoots through it too fast
I've tried this strategy in the very beginning of my betting journey and it has brought me nothing but misery and I'am glad I quit it soon enough.
M
maybe it is my English but I don't really 100% understand your question
As far as I know the basic idea behind the stop loss function is that it shoots your bet in the market as soon as there is no volume available exactly one tick above your set price.
E.g.
You have put a lay order at lets say 1.40 hoping the price will rise. You have also put a stop loss marker on the back side @ 1.20 for the worst case scenario. So if the unexpected happens and the price comes down your bet will be shot in the market as soon as the the last pound on 1.21 is taken.
BUT! And here is the sad part - it is possible that there is not enough volume sitting on 1.20 when your sl order is launched into market for your order to be fully matched. In that case your order will take what is available and the rest will become a simple back order WHICH MAY NOT BE TAKEN by anyone if the price moves down really fast! This happens time to time so you should preferably have your sl trigger on a price with as much volume available as possible, because it can be pulled out from the market at any moment.
Basically your strategy is gambling because:
1)you will often get your stop loss order kicked in even though the horse does not win in the end just because of the fluctuations
2) the stop loss may not be able to save you if the price shoots through it too fast
I've tried this strategy in the very beginning of my betting journey and it has brought me nothing but misery and I'am glad I quit it soon enough.
M
Hallo thanks for the replies....to clarify what i meant: i am just laying horses that imo have no chance of winning very late in the race and wanted to use the trigger option on the one-click screen in case it should regrow new legs and go on to become a serious contender...in this case i wanted to set the stop many ticks from the trigger in order to have chances to get matched...for example set trigger at 20 ticks and the actual stop loss bet at let`s say 100 ticks....and my question was if the stoploss bet at 100 ticks will get fired into the system only if that exact trigger set at 20 ticks is traded or immediately Betangel notices that the Last traded price is below that trigger...because it would then make no sense to use that trigger option if it doesn``t work when the trigger is "jumped"....hope that was clearer