User Comments

Do you understand what multiplication means in mathematics?

If your stake is 10, and you want to add 10% to new stake then 10.0 * 1.1 = 11.0

If you set that parameter to 10.0, then 10.0 * 10.0 = 100.0

Any MartingaleStakeFactor > 1.0 gives you stake bigger than previous loss, and as the winning lay bet payout is equal to your stake it is really up to you what that factor value you set.

Sir, I have got really bad feeling that you actually do not know what is your strategy about. Do you know what risk martingale strategy involves?   

English is foreign language for me. I speak Slovak as my native language, I understand Czech, Polish, Russian and English, so from English dictionary – factor

A number or quantity that when multiplied with another produces a given number or expression.

"an amount that exceeds it by a factor of 1000 or more"

So translating MartingaleStakeFactor is the number you can multiply by your total loss giving the stake amount in the next martingale bet.

As 1 * 1 = 1, the default value for MartingaleStakeFactor means that your next stake is increased by your loss amount only.

ResetStakingPlan means that after x losses in row (the default value is set to 3) the martingale staking plan is reset to original bet stake amount placed by your action bot.

I actually attached illustration image found on the Internet, to illustrate what your strategy looks like in used staking plan, it is called: martingale.   

When selecting above parameters in the Add/update bot dialog, the following descriptions are displayed.

For MartingaleStakeFactor : Add previous loses to my stake. The default value is 1.0

For ResetStakingPlan: Reset the staking plan after loses. The default value is 3.

What cannot you understand from above sentences?

Yes, you can do so. Always create “Execute Till Target Profit” settings with unique name for each strategy you will execute.

Yes, you can execute this strategy using “Place Bet” bot, and “Execute Till Target Profit” bot, create two bot settings using “Execute Till Target Profit” and name them differently, because it is clear that this bot must check your results, and it creates result service/s by assigning them name of the bot to distinguish among different result market queues.

To execute your strategy in full automated mode use the tool: “Bot Executor”.

You must clearly express your intention.

Is your profit target meant to be generated by closing bet position on one market, so trading?

Or is it your target profit generated by continues betting or trading on more markets?

You instruct bots to automate your strategy by setting bot parameters, or just by putting more bots in continue execution. Just a common sense dictates that computers do not think yet, only execute set of exact instructions. You do not declare exact instructions yet from your description.

There are maybe zillions of different betfair strategies one could execute, but it does not mean that for any such betfair strategy you need dedicated bot, program executing such strategy.

Just think about it what does it mean lay favourite?

We know that lay bet will be placed.

We know that the lay bet must be placed on the favourite.

Bfexplorer offers general bot named “Place Bet”.

What such bot can do, just by judging from its name?

Well, of course it can place bet, set by parameter: BetType.

In our case we need to set this parameter to Lay.

We need to place such bet on the favourite, so setting the parameter SortSelectionsBy to “Last Price Traded” will sort market selections by price/odds, the favourite will have index 1, the second favourite 2, and so on.

As we are instructing the “Place Bet” bot to do what we want in our strategy, what is missing?

Of course the selection on which the lay bet will be placed, and the parameter to set is: ExecuteOnSelection. As the favourite has index 1, we set the parameter ExecuteOnSelection to 1.

And that is all we need. Of course all bfexplorer bots where the above parameters make sense, so BetType, SortSelectionsBy and ExecuteOnSelection have such parameters.

Now we can save the bot settings naming it: “Place lay bet on favourite”. Naming the bot settings and saving it, adds the bot to the list of “My Strategies / Bots to Execute”, and such bot settings become general use for any case we need to lay favourite on the market.

Of course bfexplorer bots offers a lot of different parameters, each of them just from naming suggests for what they can be used, and there is parameter description provided as well, so just read the screen.

The above bot settings does not define any entry criteria, so if your strategy have any such criteria you can set them on Entry Criteria of the bot settings dialog.

When I mentioned “general bot settings” or “action bot” settings I mention in many blog posts, then even if your strategy is super complicated trigger, or machine learning algorithm triggering bet placing, then any time in such complicated strategy you need just simple “Place Bet” bot.

Well yes, I said simple “Place Bet” bot, but it actually is not so simple program, as it manages bet placing and updating not matched bets when odds moves and odds are still in allowed odds range to place a bet, or cancel unmatched bet when bet placing is not allowed at in-play, the parameter: AllowPlacingBetInPlay, and so on.

There is no need for any programming if your strategy can be executed by setting pre-built bfexplorer bots:

http://bfexplorer.net/Products/Feature/23#My%20betfair%20bots

If your bot strategy needs programming up to 30 – 60 minutes of my time, then I do such bespoke bot scripts for free. On the forum you can find a lot of such scripts:

http://bfexplorer.net/Articles/ByTag?tag=Case%20Study

And of course for more complicated bot strategies you must pay for my work, it starts from 150 GBP, what represents 5 hours of my work.

The OfferedAmountToLay takes 3 best offered prices and calculates sum of offered volume. The BestOfferedAmountToLay takes just bets offered price volume. It is similar for ToBack properties.

http://bfexplorer.net/Articles/Search?text=drip feed

Sir, you edited previous text, are you really serious? My comment to this post then make no sense, no attached video. I cannot believe that.

In the application toolbar there is button: “Use Bet Event Trader”, clicking on it switches your user interface between ladder one and market grid view.

In bfexplorer terms we call ladders UI (User Interface): “Bet Event Trader” view and grid is simply: “Bet Event” view.

Now you can resize or reorganize your views like you want to, switching off not used views or switching on all views you want to use, and then save your layout clicking on View menu item: Workspaces / Add.

This way you can create different named views - workspaces, for instance I have got “Bot” and “Trading” workspaces. Yes, the trading workspace has ladders, so “Bet Event Trader” view, as the main UI to show market data.

In my blog you can see different workplaces for football or tennis trading. You can switch between saved workspaces using View / Workspaces / My Workspaces / and selecting one you want to use.

Last used workspace is automatically loaded when you restart/reopen bfexplorer app.

Install the latest version of bfexplorer, I have just added Home/AwayNumberOfRedCards and CornersDifference to Football bot Start/StopCriteria parameters.

I can understand only what is asked, not what you think.

Just common sense when we are talking about number of api calls to betfair api, to minimize you need to monitor as less as markets as needed using reasonable update interval.

I do not know on what markets you run your strategy, or what exactly you do, so how could I advise?

Graf, asked:

“It could make some sense not to make so many calls until the first goal is scored and there is no active bet and most of all if the match ends 0-0. Am I right?”

So I can only understand that he executes his strategy on football/soccer markets.

Bfexplorer does not implement adjustable update interval, I mean feature that bot will automatically switch update interval for some markets that is the role of bespoke betfair app developed exactly for customer needs.

In this post:

http://bfexplorer.net/Community/BlogContent/525

I described such tool for football trades who use match details, score, time, some statistics to decide if they open market/s, and trade on them.  

This tool updates market data only for in-play markets in 5 seconds interval.

Graf, this discussion was about how any bot operates on a market when bets are placed, not about exact strategy and how to execute it as effective as possible.

Bot manages any action, so when executed every 10 seconds, setting any time parameter in the bot settings lower than update interval does not make sense.

No, I already explained that, any bet operation is separated from market data update. It is totally different betfair API method call.

I have just added to your post short video that could help you understand the bot execution in the “Strategy Bot Executor” tool.

I selected two markets and set the start execution time 5 minutes before official event start, and the update interval to 10 seconds.

The bot to execute was: Test of ReportMarketDataChanged, just simple bot trigger script to report total matched volume on the market, or text: “No update!” when no data change or update was detected by bot.

When clicking on Open button the “Strategy Bot Executor” loaded those two markets, and in Output view we could read:

Strategy/Bot Executor: The next strategy/bot execution is scheduled to: 10. 6. 2020 12:40:00

And exactly at: 10. 6. 2020 12:40:00

We can see the message: “The bot Test of ReportMarketDataChanged has been started.”

And after 10 seconds, in the next bot execution cycle:

10. 6. 2020 12:40:10 Total matched: 52.54

And so on every 10 seconds.

Later I had double-clicked on selected market in the “Strategy Bot Executor” view, what means the market had been open in the “Bet Event” view, and as the bot was still active, it started to report:

10. 6. 2020 12:40:47 Total matched: 114.72

10. 6. 2020 12:40:47 No update!

But of course not in 10 seconds interval but 250 milliseconds one, I use for the active market update.

When your “BeTheFirstInQueue” bot executes bet placing operation this operation is executed immediately.  

Now depending on in-play status of the market, placed bet is inserted to betfair market immediately (50 – 150 milliseconds, depending on your connection latency to betfair server), or if market is in-play, after in-play delay time expires (on football markets the in-play delay for bet placing is 8-10 seconds).

Yes, if your bot is executed by “Strategy/Bot Executor” tool, and you set update interval to 10 seconds, then your bot “BeTheFirstInQueue” is executed each 10 seconds, so also update of bets is done in this interval when “BeTheFirstInQueue” needs to update your bet, but any bet operation is executed immediately.

I would suggest testing it yourself. Open bfexplorer app and execute your strategy using “Strategy/Bot Executor” tool. Then manually open market in Bet Event view, and just watch how your bets are updated.