Case Study 32 - Laying The Draw Bot

From Bet Angel forum:

I have been very suprised last week with a big loss on a LTD trade with my bot although i was in position for banking a profit, because of the betfair system fails.

here's my bot, it’s been implemented for doing the following :

* Laying the draw before KO

* checking during the 50 – 65 min timeframe if my stop loss is reached (my stop loss is 1 point loss), if so, it will close the trade.

* From the 65min, it will check the Lay odds, if its greater than 25, stay in the trade (meaning that there is probably 2/3 goals difference between the 2 teams). If not it would trade out by closing the trade.

The score was 3-1 after the 51 minute of the game and then come the 4-1 goal at the 59th minute. During this goal the market wasn't suspended althought the market was managed, and at the previous goals the market was suspended as well. Consequently, it generated instable prices on the markets during a time and its where the bots relying on odds where lost and people sitting other there took advantage of that fail stealing easily your money. The bot detected at this time that the current price was 1.2 so detected my stop loss was reached and closed the trade.

Conclusion : I lost 3 pts from my bank instead a 1 pt profit although i had a 1 pt stop loss.

So guys , i would ask if somebody other there have some ideas for avoiding this to happen again, if i can put another layer of protection ? The problem is that we can't access to the current score and the only way is to interpret the odds. Very tricky if we can't rely on the current odds either, and the bot is unable to know where the odds should be.

Bfexplorer Solution: 

To avoid such problems when trading on football markets we can use safety feature of "Close Selection Bet Position" bots which offer two parameters: CheckingLastPriceTraded (true or false) and CheckingLastPriceTradedDifference (x ticks). When this option is active then bot checks if offered odds are really traded by other traders, in set odds range (CheckingLastPriceTradedDifference).  

Even when using the above setting, bot can be trick by other's faults as well, therefore the best way to avoid such problems is really check the match score, so we should use Football Bot and set the trigger for match time and/or exact score. 

"Football Bot" allows using multiple scores for Score parameter, for instance: 0 - 0;1 - 1;2 - 2;3 - 3