My trial has ended and I never managed to get my idea to work (I'm not a programmer), but I am wondering if it is possible for the bot. If I back/lay a few horses in the same race at a range for example between 5 to 1 and 10 to 1, is it possible for the bot to keep track of only the odds of the backed/layed horses and initiate a reverse trade of the same horse(s) if the odds for that horse(s) drop/raise by a preset percentage? I understand the concept of initating a bet, but not tracking the odds on the backed horses and acting accordingly.
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Betfair Bot
There is no need to program anything, and I actually really wonder why you think you need to have programming skills to execute such strategy with bfexplorer.
To automate your betting or trading strategy you need to use a bot strategy, in this it is named / called:
“Close Selection Bet Position”
You need to set the parameter ProfitLossType to Percentage, and set your Profit and/or Loss target (set Loss to 0, if you do not want to close your bet position/ hedge it in loss)
Now you can execute your bot strategy on all selections on which you placed your bets. Or you can use the bot: “Execute on Selections”, to execute your “Close Selection Bet Position” on all selections.