Betfair scalping for beginners

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magwitch78
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Joined: Wed Sep 30, 2015 8:26 pm

Dallas wrote:
magwitch78 wrote:this just offsets the stake only once fully matched. is there no way to offset it as the initial bet is being matched bit by bit? e.g back bet 100 10 is matched so 10 is offset etc..
Yes thats what the "Offset Batches" box is for just to the right, If you entered 10 in there and used a £100 stake each time £10 was matched that amount would be offset, if you used 4 in the batches box then as each £25 is matched that amount is offset
ahh right thanks. always wondered what that was for. If i wanted to literally do it penny for penny could i use decimals?
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Dallas
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I've Never tried pennies but if doing that or even using single pounds with a large stake keep a eye on your transaction counter - if its nibbled in small amounts it could soon rack up the number of transactions per hour

viewtopic.php?f=47&t=11378
threedogs
Posts: 79
Joined: Mon Jan 20, 2014 10:24 am

I have to say thats the best advice i have seen so far .. as a beginner i seem to have some good days and then even though i should not do it i sometimes fall into chasing a loss into in play and all the previous profit is gone.. I have tried a stop loss but its restrictive and seems to spoil good trades so I struggle with having a mental stop loss. I know that there is a big opportunity there in the horse racing market but its a struggle to get everything right at once haha Thanks for your excellent advice.
marko236
Posts: 737
Joined: Fri Jul 12, 2013 11:54 am

I'v never got to grips with scalping and it looks so easy, this is the way things tend to go.

Me " look at that horse it's been trading within 3 ticks for a while plenty of money matched too looks a great chance for some scalping, great scalped this 4 times now and still looking good for more" :)

If the market could talk!

Market " well done 4 great trades done, i think i'l just move quickly 5 ticks from your postion, how do you like that sir?" :cry:
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Dallas
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marko236 wrote:I'v never got to grips with scalping and it looks so easy, this is the way things tend to go.

Me " look at that horse it's been trading within 3 ticks for a while plenty of money matched too looks a great chance for some scalping, great scalped this 4 times now and still looking good for more" :)

If the market could talk!

Market " well done 4 great trades done, i think i'l just move quickly 5 ticks from your postion, how do you like that sir?" :cry:
I have a bias scalping bot im about to upload to the library hopefully later today, just something a little different from the usuall range ones used
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Crazyskier
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marko236 wrote:
Me " look at that horse it's been trading within 3 ticks for a while plenty of money matched too looks a great chance for some scalping, great scalped this 4 times now and still looking good for more" :)

If the market could talk!

Market " well done 4 great trades done, i think i'l just move quickly 5 ticks from your postion, how do you like that sir?" :cry:
THIS
Mattlindsay
Posts: 69
Joined: Fri Jul 10, 2015 1:51 pm

See below..... Thank you!!! I'd never have found it. Do you want me to send the P&L for today as well? would that help.

Matt
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Dallas
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Mattlindsay wrote:See below..... Thank you!!! I'd never have found it. Do you want me to send the P&L for today as well? would that help.

Matt
No I dont need that ill be able to see from the file whats wrong with it and let you know
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Dallas
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Here is the amended file with the changes requested
wozza
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Joined: Thu May 05, 2016 12:49 pm

Hi Bud

Best advise I can give you is to think long term and be willing to put in the hours.
Stick to pratice mode learn from your mistakes, study/ watch the markets on the ladder interface and how they move and react. Look at what type of race it is i.e a novice/maiden will have bigger market swings than group 1. look at market liquidity (money mated overall)
that is a indicator as to how the prices will react. You need to go through so many markets to be able to put the puzzle together.
wozza
Posts: 4
Joined: Thu May 05, 2016 12:49 pm

oh and remember we all have to start somewhere and you will be passing on your advise to someone one day.

wozza
wozza
Posts: 4
Joined: Thu May 05, 2016 12:49 pm

I never go into a market with the thought I WILL SCALP THIS RACE, The markets will tell you weather it suits a swing = following a trend where you look to gain larger movements or ticks in the market once you have seen a pattern in the market OR A scalp = small gains i.e 1/2 tick movement in the market which you will normally find in the high liquidity markets.
Mattlindsay
Posts: 69
Joined: Fri Jul 10, 2015 1:51 pm

Cheers Dallas It's greatly appreciated.

Matt
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Mattlindsay
Posts: 69
Joined: Fri Jul 10, 2015 1:51 pm

After going mad for hours I think I may have found the issue the programme didn't have an in play in the condition which I have now added.

Would you mind checking everything else just to ensure I've not missed anything else.

Thanks again for your continued help.

I look forward to hearing from you.

Matt
Mattlindsay
Posts: 69
Joined: Fri Jul 10, 2015 1:51 pm

Hi Dallas,
I've now settled on the file below which lays a fav drifting in running then greens up 10 ticks higher.
There are two lay rules one for odds on favs and one for other favs, both have worked once so far today would you be kind enough to check the file and see if its correct as I have been watching it it has been very slow at placing the lay bets thus either not putting them in the market or they have been unmatched when placed. I completely understand with the nature of what I'm doing not every bet will be taken but can you show me a way or is there a way where more can be matched in running.
The file I sent you late last night I won't need now.
With this above would more trades be matched if it were done on a spreadsheet?

As every I look forward to hearing from you. Hopefully I will leave you alone when this is sorted!!!

Matt
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