Article

Comments ( 14 )

• ruipedrosilvasousa

  18.9.2015 2:20:49

  if there were a bot : "Place Bet and Close Selection Bet Position at odds(Profit and loss)"

   

• Betfair Bot

  18.9.2015 11:05:46

  What do you mean by “market value”?

• ruipedrosilvasousa

  18.9.2015 12:09:06

  market values = odds

• Betfair Bot

  18.9.2015 12:56:04

  Please, rephrase your question so I know what you exactly want to do.

  
  Terms: open bet position, close bet position, selection bet position or selection profit balance, back or lay best offered price (price is odds in this context.) The above terms say something about a selection.
  Market bet position means a bet was placed on one or more selections and a bet is matched.

  
  If you placed bets on a market but none of bets is matched, then we cannot say about market bet position. When a market bet position is open, a market profit balance says about a current profit or loss you can close your market bet position on.

  
  The same can be said about selection.

  
  To close a selection bet position means to place opposite bet to the opening one and depending on a stake amount we can say that we hedge our bet position receiving equal profit or loss. If a bet position is closed by NET stake amount (so by the same stake amount as the opening bet stake amount), then depending on a profit balance you closed your bet position on, you have got zero, or profit/loss depending what is the event outcome.

  
  When knowing what you actually want to achieve I will prepare video tutorial.

• ruipedrosilvasousa

  18.9.2015 13:21:09

   

   

  Example

   

  Open bet Position (back ,odds 1.99)

  close bet position (odds 1.86) or close bet position (odds 2.20 )

   

  Possible solution:

  -Place bet back odds 1.99 

  - 

   

  Chain Execution( botname: PlaceBet;If Then Else )

  -

• ruipedrosilvasousa

  18.9.2015 13:34:08

  not resulting my solution

• Betfair Bot

  18.9.2015 14:52:51

  You should use the bot: Close Selection Bet Position At Odds, and your trading bot setup by Chain Execution bot, such solution makes sense because you want to start your bot to close your bet position only when bet placed at 1.99 is fully matched.

  
  If you set the parameter Odds to 0, the bot Close Selection Bet Position At Odds, closes your bet position at current offered price/odds.

  
  In my video I showed another useful feature. If you set your bot category to: My Ladder Bot, then such bot is added to the ladder context menu. You can prepare a lot of such bots for general use, for instance hedge bot setting or close bet position by NET stake, and so on.

• ruipedrosilvasousa

  18.9.2015 16:24:27

  

  1,86 and '2.30' right?

  Thank you so much. I'll try

• Betfair Bot

  18.9.2015 16:37:47

  It does not matter what price values you set it is up to. I think you still do not understand something. As said: Close Selection Bet Position At Odds with Odds set to 0.0 closes bet position, if valid, immediately at current offered odds. In your solution the bot: If Then Else only executes the hedge bot when set LastPriceTraded fulfils set criteria.

  
  So in your solution, the key is how the Close Selection Bet Position At Odds with Odds works. Do you understand it?

• ruipedrosilvasousa

  18.9.2015 17:59:09

  thanks :)