Trade Profit Calculator (Cash Out)
Concept
The trade calculator can be used in any market to quickly and easily exit your positions. You can close your position for an immediate exit, offer a closing bet on the reverse side of the book to scratch or improve the price of your trade, or you can close for a nominated target price (and see the profit that will provide). You can also automatically hedge and ‘go green’ on your open market positions on a selection, all with one click of your mouse.
General usage
To use the trade calculator you need to click on the trade calculator icon or look in the enhanced ladder where it is present. You can open and use three trade calculators simultaneously on different selections within the same market.
It is important to note that in order for the trade calculator to function correctly it needs to work out your net position on a selection within the market. It can only do this if you have backed or laid that selection in isolation. If you have used bookmaking, dutching or a similar tool on a market Bet Angel will not be able to work out your net stake and you will not be able to use the trade calculator reliably. The trade calculator can be ‘pinned’ to the top of the screen to ensure that all the relevant trade information and the ability to exit your trade is available all the time in an area convenient to you. You can ‘pin’, ‘unpin’ and move the calculator where you wish on the screen. Use the pin option on the top right of the trade calculator to do this.
Using the trade calculator
When you first start up the calculator or you have no positions in the market the trade calculator will be blank. Clicking on the pick list will show you a list of all available selections in that market. Use the pick list to choose which selection you would like to use the trade calculator on.
When you have an open position in the market, the calculator will immediately show you your net position in the market if you chose to close your position at that moment. Bet Angel will also display the required stake and price required to close your position. At this point you would chose how you wish to close the position and press one of the available buttons.
In this example you can see there are three buttons which you can use to close your position.
- Current Close allows you to close the position immediately at the best market price. If you have previously backed the selection, it will lay it at the current lay price; if you have laid the selection, it will back it at the current back price to close your net position.
- Reverse Close allows you to take the best available price on the opposing side of the book. If you have backed to open your trade it will try to lay at the current back price to close. You gain the advantage of a better price (at least one tick), but as you are offering the bet to the market you will have to wait for another market participant to match against your bet. Therefore you gain additional profit for the risk of the bet possibly not filling. Used appropriately, this is a great way to reduce a potential loss or scratch your trade if your position is going against you.
- Manual Close allows you to nominate a price which you wish to close out at. You can use this to assess future profitability, a potential loss or to put a price in the market that will be met at some point in the future. Use the saved bets option (or Keep All) to automatically re-introduce this bet into the market if you wish to be matched at some other time.
If you tick the ‘greening’ option on the trade calculator, the calculator will automatically hedge your position on this selection in the market when it places your closing position, regardless of which button you chose to close it. This means you can place a trade with only one click that will automatically place the correct stake and at the correct price to spread the profit you have made across the entire book. It will perform this task whether you have made a profit or a loss and it does not need to place multiple bets to achieve this.
A good way to experiment with the trade calculator is to use it on an ‘in-play’ event. This is because the odds move quickly and you will see the immediate impact of this on the trade calculator. Try laying a small stake in a horse race before the off and use the trade calculator to close this position in running.
