Cymatic Trader Community

[Lavenham]

Hi Gavin

I wanted to clarify something concerning the above.

Suppose I place a Tick offset bet with the stoploss on. I realise that when the bet is matched, the stoploss is then placed and the offset bet placed.

If the offset bet is then matched,does this automatically cancel the stoploss? Likewise, if the stoploss bet is matched does the offset bet cancel automatically?

I had a look in the manual and video and it seems this is the case but wanted to confirm this.

Thanks

[Gavin]

Hi Lavenham,

Yes that is all correct.

Note that the stop loss is actually just a marker at a trigger price, not an actual bet. So if the market touches the trigger price then the stop loss is effected by the offset bet simply being moved to the stop loss price (without changing its stake because the 'green' setting of the offset feature is not recalculated when the offset bet gets moved to the stop loss price - so your position might be left a tiny bit imbalanced afterwards, but you can always click to send another bet afterwards to spread the loss completely evenly across all outcomes).

UPDATE (03/10/2015) - the stop loss now works with the green check box, which determines whether the stop loss will have a green stake or a level stake.

Kind regards,

Gavin

[totschillaci]

Hi Gavin,

My issue is when scalping the races I offset one tick with my stop at 5 ticks. The offset is also set to green to save and extra manual step on my part. That is all fine except when the loss is triggered.

I notice that in times when the market moves rapidly against me the stop gets taken out but instead of spreading the loss evenly, it leaves me with a fat red figure for that horse and then I have to manually click the green up button. This could cost me several ticks in a rapid price movement and caused me a substantial loss the other day as the race didn't go in-play and didn't have a chance to green up.

Similarly when laying first, and the stop loss is a back bet, it leaves all the green on the one horse and red on every other runner.

This is causing me a few heart in mouth moments.

Cheers in advance.

[Gavin]

Hi totschillaci,

I have moved your post to this existing topic thread, which already discusses the issue.

Please note that I am planning to also add a completely separate stop-loss feature in the near future, that is not tied to the offset feature and thus is not affected by the size or green value of the offset bet.

The reason for the current implementation (i.e. the stop-loss is effected by simply moving the offset bet to the stop-loss price if that price is reached), is that it is the quickest way to perform a stop-loss. It is the quickest way because it only requires one API order, which is the order to move the bet to a new price (called a 'replace' order in Betfair lingo).

Whereas if the stop-loss bet was effected by sending a new bet at the desired stop-loss price, then we'd need two actions. One action to cancel the offset bet and the second action to send the stop-loss bet. Therefore the time taken would be double and this would probably reduce the chances of getting the stop-loss bet matched at the desired price in fast moving markets.

Generally speaking, you might prefer to not use the green feature (when using the combined offset and stop-loss) unless the stop-loss is close to the offset price, because the imbalance becomes greater when the two prices are further apart. Or you only use it when you know that you have time to green (red-up) manually afterwards.

UPDATE (03/10/2015) - the stop loss now works with the green check box setting, so it can either have green stakes or level stakes. There is also now an independent stop loss that works by right-clicking in the ladder. Please see the user manual for full details and my post below.

Kind regards,

Gavin

[Gavin]

I am pleased to announce that the independent stop loss (right click on ladder) has now been implemented. The stop loss also now respects the setting chosen in the 'green' check box.

I have now released the new version 4.13.0.0 which includes the changes. The software automatically updates to the new version when you open it.

Here is the updated section of the user manual, that explains how the stop loss works now:

User manual - stop loss section.

Kind regards,

Gavin

[adenlark]

Hi Gavin

Good work on the independent stop loss. It works perfectly when implemented as shown in your video, but not quite as I expected when placing the stop loss after the bet. Consider the following scenario:

I place a Back bet at 3.2, and then a stoploss at 3.4. My back bet gets matched, so I place a Lay at 3.15. The market goes against me and the stoploss triggers at 3.4, but the Lay at 3.15 is not cancelled.

Would it be possible for the stoploss to cancel the unmatched bet, where the bet is placed before the stoploss?

Cheers

[Gavin]

Hi adenlark,

Thanks for the feedback. Yes that is correct, existing unmatched bets are not cancelled when using the separate stop loss

As soon as I get time, I will add an option in the settings to make it cancel other bets when a stop loss is triggered.

Kind regards,

Gavin

[mark]

Gavin, is the 'cancel unmatched bets on stop-loss' function still on your 'to do' list, or am I not seeing it? Kind regards, Mark

[Gavin]

Hi Mark,

Yes I'm afraid that is still on my to-do list.

Kind regards,

Gavin

[jason]

Hi Gavin,

Is this still on your 'to-do' list?

Kind regards,
Jason