Lay favourite with my staking plan. -10

Hi Stefan:

How should I set the robot to stop when profit reaches € 10, or € 10 loss?

I tried several configurations, but always appears: "Your target profit has been reached:0:00". See screenshot.

I'm testing this robot: Lay favourite with my staking plan,  following the article of Stefan:



Comments ( 5 )

  • Edumadrid
    26.11.2015 18:24:59

    Why does not work this setting?

  • Betfair Bot
    5.11.2015 13:02:18

    It would be really great if you mention which bot you are using, and if you refer to some article on forum, then add link to this article.

  • Betfair Bot
    5.11.2015 13:09:59

    Please translate to Spanish what it means “Entry Criteria”.

    Those parameters, if set then refer to the current market ProfitBalance, so your action bot will continue its execution only if current Profit Balance on the market is greater or equal 10, that means that on this market you already placed bets and your current profit balance is >= 10.

  • Edumadrid
    6.11.2015 19:06:09

     Hi Stefan:

    A few days ago I lost € 240 with a stake of 1 €, I used the robot "Lay favorite with my staking plan. -10"

    I had four straight losses and did not stop when the robot lost 10 €.

    Please, Stefan, how can I do so that the robot stops when it reaches the established loss?

    It would be possible to divide the bankroll into several parts and using only a part and if anything is unsettles, which lost only one of the parts and not all parts?

    Thanks in advance.

  • Betfair Bot
    8.11.2015 16:11:08

    Eduardo, I am sorry to hear that you lost some money just because you did not understand what staking plan you actually execute with your strategy and what maximal liability could be reached by your bot settings.

    I think you used some of bot triggers from My Staking Plan series, describing how to program a bot trigger with a custom staking plan:

    The staking plan was implemented by Eric’s requirements for his betting strategy:

    If there is a loss, double my stake and add previous loss to my stake.
    If there is a loss and my previous bets are in profits, then double stake only.
    If there is more than 3 consecutive losses then bet with default stake. 

    So the bot trigger implemented two parameters: Stake and NumberOfRecoveryBets. Depending on what betting strategy was executed, we do not know if his action bot placed back or lay bets on selected horses and at what average odds range, only he knew what could be his maximal labiality on his final bet placed at the recovery plan.

    Knowing what you actually do and what could be maximal liability bet when executing any staking plan is absolutely crucial for any successful strategy.

    The worst case scenario is when all goes well when testing and without aware of the risk you switch to execute your strategy with real money too soon. That is a price you paid to learn that you must test weeks and not days to test your strategy.

    Here are my answers to your original question:

    First of all, you already used a bot trigger with staking plan implementation, so if you wanted to add some stop criteria for your action bot, for instance when total target loss is reached then such criteria should be added to the bot trigger code.

    You tried to use “Execute Till Target Profit” bot setting the bot parameter: TargetProfit to -10.0 (minus ten), hoping that such bot setting will stop your action bot execution when loss is reached.

    Such settings cannot definitely work, and there 2 reasons why it cannot work.

    The bot implementation works only with profit, if bot would implement target loss then you could find it in bot parameters listing, for insistence the parameter would be named: TargetLoss.

    The bot checks if target profit is reached by comparing the current profit with the target parameter value. When current profit is bigger or equal to set target profit then action bot execution is stopped.

    In school we learned that zero or positivity value is bigger than any negative value, right? Even minus one is bigger than minus two, therefore your bot stopped action bot execution at first execution, as 0 is bigger than -10.

    I can update the bot: “Execute Till Target Profit” to work with a target loss in my next bfexplorer release.