Blog Article

Horse Racing: Dutch favourites and close bet position by hedging

In my previous tutorial I showed how to dutch 3 tipster's favourites, and now I will show you how to close these dutch bets by hedging.

To close bet position on market you must use bot: Close Market Bet Position. I set my profit target to 3 Euro, and no loss target (0). I named this bot setting: Take 3 Euro profit on market

In my previous tutorial I created the bot setting to dutch tipster's favourites with the name: Dutch 3 favourites

Now I want to create a trading bot that will place dutch bets and then when profit target is reached close bet position of these dutch bets by hedging, so what I need is to chain execution of the above bots. I can do so by using the bot: Chain Execution. I set the parameter BotNames:

Dutch 3 favourites;Take 3 Euro profit on market

And name my new trading bot: Dutch 3 favourites and then take 3 Euro profit

I tested this bot on the same market you can see in my video, 8-9 minutes before race start, at around 5 minutes to the race start my bot closed bet position with 3.5 Euro profit.

I again rerun my test in practice mode around 4 minutes before race start. As you can see on my video tutorial the favourite had been heavily backed, but my two other horse were in loss.

After the race started first and second favourite were travelling nice, but loss on my 3rd horse was too big, so I decide to close bet position on this horse manually by clicking on selection hedge button, it is pity that I did not do so earlier otherwise my “Take 3 Euro profit on market” would close my bet position sooner.
As the race was in its final stage my second horse had started to lose, at that moment I closed the bet position on this horse manually and finally my favourite reached the target profit of 3 Euro covering loses on my two dutch-ed horses as well, so my bet position was closed for 3.23 Euro profit, my horse lost, but trading session ended with profit.

If you make more tests and be selective with race types and horses you want to dutch then this trading system could be a profitable one. From what you could watch in my video, there is one idea for automating the close bet position process for horses losing their position in race, and executing Trailing Stop Loss bot on horses in profit, so maximizing possible profit.

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