Forum Article

Automation for scalping

Hello, I am very new to trading and new to this software. Is there a way I can get scapling done via automation? I am unsure of how I can do this on the sofware. I am looking to make sensible % profits each time and gradully build my bank. Can I get the exact instructions on how to set this up please? 

Thank you :)

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  • Admin
    2.5.2019 13:00:14

    First you need to define what you mean by term “scalping”?

    Basically, the word describers manually trading on betfair, so the activity when man using its knowledge on how prices/odds will move, or how the market (so rest of people and bots on betfair) will react on market price changes, and using this knowledge to place back or lay bets, either by offering bets, and or taking what is offered.

    The aim of this strategy is to create very short position on betfair market taking just couple ticks profit when market moves in favor or just accept loses, again in couple ticks. Trade is made by placing opposite bet type then opening one, so lay when back first and wise versa.

    A tick is price/odds difference between back/lay odds, as betfair odds on non  handicap markets is defined in price groups, so for instance in odds/price range 2-3, it is 0.02, but in odds 3-4 it is 0.05 and so on, then between 2.12-2.14 we have got 1 tick difference as well as between 10-10.5.

    That is the basic of trading on betfair.

    When man trades on betfair a different techniques are used, you even place fake bets to force market react in your favor, in such cases you need to know what you are doing, as what you offer in such fake/trap bets, can be value for others.

    To automate this process we are using betfair bots, so small programs which could automate manual part of your daily routine on befair markets, it is clear that such bots do not think, and are limited only by preprogrammed parameters.

    In bfexplorer app you can find following bots which can be used for scalping:

    Place Bet

    Be the First in Queue

    Fill or Kill

    Close Selection Bet Position

    Close Selection Bet Position at Odds

    Place Bet and Close Selection Bet Position

    Tick Offset

    Scratch Trading

    Trailing Stop Loss

    Close Market Bet Position