As we have seen on previous pages, placing or changing an order on the ladder interface is quick and easy with the mouse. If you have opened a position and it looks like it is heading for a loss, you can use your mouse to quickly drag and drop the bet to close your position.
You can also click on a bet; holding the mouse button down in anticipation of dragging it to cut out of a position. Then either drop it to the new price or just drop it off the screen if you want to make no change to the bet (pressing 'Esc' on the keyboard will also discard the change).
If you'd like Bet Angel to manage the exit, you can use an automatic stop loss. Using an automated exit removes some of the emotion of exiting for a loss and it can execute quickly in a fast moving market.
To set a stop loss on the ladder, simply right mouse click on the back or lay side of the ladder.
If you have an open Back position (and so need to place a Lay bet to close the position), then you will be looking to right click on the lay side at a price at least one tick higher than the current lay price in the market. If you were allowed to click lower than that, the stop loss would be triggered immediately.
If you have an open Lay position (and so need to place a Back bet to close the position), then you will be looking to right click on the back side at a price at least one tick lower than the current back price in the market. If you were allowed to click higher than that, the stop loss would be triggered immediately.
Bet Angel will automatically work out your net trading position in the market when the price touches your stop loss and what closing trade is required to remove you from the market.
To cancel a stop loss, just right mouse click on it.
To move a stop loss, just set a new one, the old stop loss will be cleared automatically.
In the screenshot below, I have an open lay position on the second ladder, I am looking to exit at a much higher price, but have placed a stop order by right clicking on the back side of the ladder at 3.1. If the price drops to this level, Bet Angel will automatically exit the market by placing a closing trade at 3.1.
On the enhanced ladder interface we can see more details of the stop loss order. Here we can see the price and the stake details in the profit calculator area of the enhanced ladder.
If you set a stop on the wrong side or have hedged your position or closed your trade, Bet Angel will have nothing to do and in the enhanced ladder display will show the stop loss with “0.00” as the stake.
When using the stop loss on the ladder, if you change to a different market, the stop loss setting will be cleared. This is so there is no risk of having a hidden stop loss active in the background.
Video Tutorial
