How to test a strategy?
Well, first we should start by placing bets and watching for profit/loss patterns which could be utilized to run fully automated betting or trading strategy. It is a good idea to place such bets in practice mode, so no real money is in risk.
Let’s say we place dutch bets on horse racing. What is a dutching bet? Dutching is placing more bets on event selections, so when any of our selections won we won the same amount.
In bfexplorer app we can place bets manually using Bet Wizard tool, click on Market / Bet Wizards / Back Dutching, or we can place bets automatically by using bot: “Place Dutching Bets”, or by custom built bots, like I use in my short video.
We can spend hours placing bets manually, or just setting bot up and run in automatically using Bot Executor tool. After day/s of automated bot running we can just check total results: profit or loss, and when there is any profit in total results, we can continue analyzing market data to find even better way to make a profit with the strategy.
Bfexplorer saves a lot of data internally and those data can be accessible by writing script. In my video I show such script which exports data to Bfexplorer Spreadsheet. The script: AnalyzeMyHorseRacingStrategyData exports following data:
Racecorse, Race Distanace, Race Type, Number of Runners, Bets Book Value, Profit, Win, Total Profit, Winner, Maximal Price Traded
In my spreadsheet I created chart showing total profit. Data can be saved to CSV format and analyzed by other tools. I have used Tableau Public to create following reports: