Execute Till Target Profit

When editing the Execute Till Target Profit bot, under the Profit/Loss header, what is the definition for ResetStakingPlan and MartinggaleStakeFactor? and what do the numbers represent when entering them in?


Comments ( 20 )

  • dnx444
    16.8.2020 7:57:48

    Thank you for the video, I only realised you put it there once reading your email. I tried yesterday again and had the same issue, but just realised a small difference in the way yours is setup. You TargetLoss is set to 0, is there where mine is going wrong? I set mine to 1000

  • Betfair Bot
    16.8.2020 9:00:41

    The TargetLoss parameter stops bot execution when required loss is reached. It means that no bet will be placed.

    In your previous comment you said: “…but im unsure why im getting the results im getting. if i win the lay bet after losing a lay bet it takes my sum to breakeven, which i dont believe should be right? if my initial stake is $10 and it loses, then ill be down x amount of dollars but if the next bet wins it should stake accordingly to cover the loss plus add the additional stake …”

    So I made that video showing that staking plan is correct, as you can see in my video that third bet was losing on, loss -3.28, and the next bet won 5.28, so it means the lay bet was placed with stake amount: 5.28, so it covered previous loss 3.28 and added original stake 2.0. It means that staking plan is working correctly, and not the way you think/said, it works!

  • dnx444
    16.8.2020 11:49:24

    Yes the way yours is working in the video is exactly how I want mine to perform. But it's not for some reason. Could you please send screen shots of both the general bot settings and action bot settings? Just so I can double check where mine is going wrong 

  • Betfair Bot
    16.8.2020 12:41:36

    What did you set for StakeType? That is the only problem you could make, because when you set StakeType to whatever else the Stake, your lay bet payout is different value, that is common sense.

  • dnx444
    16.8.2020 13:04:17

    So these are my parameters set..

    Place bet bot:

    BetType: Lay

    MinimumOdds: 1.01

    MaximumOdds: 1000

    PlaceBetInAllowedOddsRange: true

    Stake: 11

    PlaceBetAtTime: -00:0020

    SortSelectionBy: Last Price Traded

    ExecuteOnSelection: 1


    Execute Till Target Profit Bot:

    BotName: lay fave $11 (name I called it)

    TargetProfit: 10

    TargetLoss: 1000

    ResetStakingPlan: 7

    MartingaleStakeFactor: 1

    ExecuteAtTime: -00:00:30

    StopExecutionAtTime: 00:01:00

    SortSelectionsBy: Last Price Traded

    ExecuteOnSelection: 1

  • Betfair Bot
    16.8.2020 15:14:09

    “Place Bet” bot settings:

    You actually mentioned a lot of parameters which have no meaning for your strategy, but you did not list the one I asked, so I believe you left default settings for StakeType, which is Stake by default, and you must use this setting in your strategy.

    Another default parameter is OfferMyBet which is set to True (checked), so your bot offers your bet, does not take what is offered.

    You run your strategy by Bot Executor, right? So in fully automated mode, then PlaceBetAtTime settings is redundant.

    “Execute Till Target Profit” bot settings:

    ExecuteAtTime is redundant. Yes, StopExecutionAtTime makes sense in this settings, because if previous bet is still not yet settled, it does not makes sense to continue waiting for bet settling after some time. On the other hand what you set there? And on what markets you run this strategy?

    I believe you mentioned greyhounds racing, and well you set StopExecutionAtTime to 00:01:00, so 1 minute after official race start time, and we both know that greyhounds racing are not in-play markets.

    SortSelectionsBy and ExecuteOnSelection do not make sense in your settings. This bot executes the action bot, what is “Place Bet” bot in your case, and this bot is already instructed to place lay bet on the favourite.

    So my question again, what you set for the parameter: StakeType? This is the only parameter settings which can influence stake amount. For instance if you set it to Liability, then your stake amount is calculated: stake / (price - 1.0)

  • dnx444
    17.8.2020 7:27:49

    Sorry, forgot to write that. My StakeType is set to: Stake

  • dnx444
    17.8.2020 9:09:20

    So I have another issue. I cant understand why its not working, so thought it may be becasue I was doing it in practice mode and maybe that had something to do with it. Tried it in normal mode, with a stake of $5. Practiced it twice and both times the first bet was $51.20 and $56.40. I've got no idea why the stake would have been this large? Both of the first bets lost, and the second bet worked like it should and was the amount lost in the first bet + $5

  • Betfair Bot
    17.8.2020 11:26:26

    The only requirements for action bot are to use StakeType: Stake option.

    Did you restart bfexplorer?

    Because bot “Execute Till Target Profit” records all results, and what you describe seems to be like bot used all previous results profit/loss not resetting previous results.

    For now, please do run strategy in practice mode only, to better understand what is going on. I think the Stake requirement is clear.

    As I mentioned before if you did not test this martingale strategy before for a longer period, then you should be aware of risk taken, because for couple days you can get fine results, but then will favorites start will in row and you can take big losses.

  • Betfair Bot
    17.8.2020 14:44:59

    I have just extended "Execute Till Target Profit" bot to be able to use "Place Dutching Bets" bot as the action bot.

    I have open results data to be accessed by console script, something like here:

    Save Market Data or Your Trading Results